This paper seeks to examine the relationship between chief executive officer (CEO) duality and firm performance. We also investigate whether the duality-performance relationship is affected by firm characteristics, including the family ownership, firm complexity, and industry. We discuss whether the agency problem could be mitigated for a company of the combination of the position of CEO and director has independent director and supervisor system. We propose and test hypotheses with a sample of 3,619 public companies in Taiwan. Our results indicate that after consideration of the combination of the position of CEO and director, and the second-degree relatives or the marriage relationship of CEO and the chairman of the board, the relationship between duality and firm performance become significant. Our results indicate that when family ownership is high, the combination of two roles is beneficial to the firm, and the combination of two roles is also beneficial to the firm of the electronic industry. And, agency problem could be mitigated for a company of the combination of the position of CEO and chairman has independent director and supervisor system.