| China's economy has shifted from a high-growth phase to a high-quality development phase,with emphasis on industrial transformation and upgrading.Changes in the macroeconomic environment will inevitably require companies to improve their technological innovation capabilities and product competitiveness.This means that industries must shift from low-competitive labor-intensive industries to high-tech capital-intensive industries and technology-intensive industries.Many industries will be in a mature or even recession period which cannot meet the requirements of transformation and upgrading,and there will also be many industries that meet the requirements of the development of the times in a rapid growth period.The changes in the industrial environment mean that companies in labor-intensive industries and mature industries have reduced demand for senior executives and competition is fierce.On the contrary,companies in capital-intensive,technology-intensive industries and mature industries have high demand for senior executives.Increase,welfare benefits will be greatly improved.Therefore,this paper takes the uncertainty of the external industrial environment as the starting point to study the impact of the industrial environment changes on the company's executive appointments,and then adjusts the corporate performance through the background characteristics of senior executives.This has important theoretical and practical significance: Helping China's industrial structure upgrade and improving economic growth data,micro-level help companies and senior management to properly match according to their own characteristics.Under the special circumstances of the type of industrial factors and the uncertainty of the industrial life cycle caused by China's economic transformation and upgrading,this study takes the listed companies' micro enterprises as the research object and uses quantitative research methods to explore how companies in different industrial environments can collaborate.Executives with different background characteristics,i.e.,whether there is an optimal matching relationship?Can this type of company with different industry types properly match the executives with different background characteristics,can it improve corporate performance?Can this type of company,which is in a different industrial life cycle,properly match the executives with different background characteristics,can it improve corporate performance?Based on the theory of resource dependence,contingency theory,and high-gradation theory,this paper follows the research thinking of “industry environment-high-level management characteristics-corporate performance” and takes the background characteristics of senior executives as the adjustment variables and classifies the industrial factor types into technologies by adopting XX.In intensive industries,capital-intensive industries,and labor-intensive industries,the industry's life cycle is divided into industry maturity periods and growth periods using the firm's net entry rate method,output growth rate method,and feature analysis method,and different types of industry elements are constructed.The relationship between corporate characteristics and executive background characteristics of the industry life cycle,and the theoretical model of the impact of the relationship on corporate performance and put forward the corresponding theoretical assumptions.This article also quantitatively examines research hypotheses and theoretical models through quantitative analysis methods such as descriptive statistical analysis,linear regression,logistic regression,and hierarchical regression.The main research contents and conclusions of the paper include:Firstly,theoretic exploration of industrial environment and senior executives' background characteristics and their impact on corporate performance.Through combing the theory and literature related to the domestic and foreign industrial environment and combining the special circumstances of China's industrial transformation and upgrading,on the basis of previous research,we have put forward relevant theoretical hypotheses: Relative to capital-intensive industries and technology-intensive Industry,senior executives in labor-intensive industries are older;relative to industrial growth,senior executives are more mature in industrial maturity;capital-intensive and technology-intensive industries are more important than labor-intensive industries.Corporate executives have higher degrees;relative to industrial maturity,senior executives in industry growth have higher academicqualifications;relative to technology-intensive industries,executives in labor-intensive industries and capital-intensive industries have political capital.More;Relative to the industrial maturity period,business executives in the industry's growth period have more political capital.Secondly,in the context of China,quantitative analysis of the matching relationship between executives of different industry types and different background characteristics.In this paper,we use linear regression and logistic regression equations to perform a regression analysis on a total of 1590 effective observation of217 listed companies from 1992 to 2014.The empirical results verify the theoretical assumptions,that is,different industry types and industry life cycles,and match the characteristics of senior executives.There are significant differences: Compared with labor-intensive industries and capital-intensive industries,executives in technology-intensive industries have more output-oriented work backgrounds;relative to industrial growth,there are more corporate executives in mature industries.With a productive work background,compared with capital-intensive industries and technology-intensive industries,executives in labor-intensive industries have more background in production-oriented work;compared with industrial maturity,business executives in industrial growth More has a productive work background;compared with labor-intensive industries and technology-intensive industries,executives in capital-intensive industries have more peripheral work backgrounds;they are in industrial growth compared to the mature industrial life cycle.Corporate executives have more peripheral work backgrounds.Thirdly,in the context of China,quantitative analysis of the appropriate matching of senior executives with different industry types and different background characteristics can improve corporate performance.This paper uses a hierarchical regression method to conduct a regression analysis of a total of 1590 effective observations of 217 listed companies from 1992 to 2014.The empirical results verify the theoretical assumption that companies in different industry types have high matching background characteristics.Management can improve corporate performance: Relative to labor-intensive industries and capital-intensive industries,the output-related functional background in technology-intensive industries is morepositively related to corporate performance;relative to capital-intensive industries Technology-intensive industries and labor-intensive production-based functional backgrounds Higher positive correlations between executives and business performance;Relative to labor-intensive and technology-intensive industries,capital-intensive peripheral functional background The positive correlation between executives and corporate performance is even greater.Fourthly,in the context of China,a quantitative analysis of the appropriate matching of executives with different industry life cycle and different background characteristics can improve corporate performance.This article uses a hierarchical regression method to conduct a regression analysis of a total of 1590 effective observations of 217 listed companies from 1992 to 2014.However,the empirical results are inconsistent with the theoretical assumptions,that is,companies in different industrial life cycles have high matching background characteristics.The management has no influence on the performance of the company: Compared with the industrial growth period,the executives of the output-oriented work background have a positive but not significant effect on the company's performance in the industrial mature period;relative to the industrial maturity period,the production and external work background the executives' influence on the corporate performance in the industrial growth period is positive but not significant.In the final part of the study,the conclusions of the research were concluded and summarized,the theoretical contributions of the study were refined,and the practical implications for the company's practice and the executives themselves were pointed out.Of course,due to limitations in personal knowledge,abilities and energies,this study has certain limitations and needs continuous improvement and improvement in future research. |
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