Research On The Correlation Between The Leader's Human Capital Stock And The Scale Of Private Enterprise's Financing

In the era of knowledge-driven economy, the key to enterprise's success in the severe competition is person with ability. The human capital stock of the superior leaders has determinative effect on enterprise's performance and its stabilization. Investment on human capital is going to be the chief factor of enterprise's development. At present, private enterprises in China are in the trouble of financing in common. Private enterprises' scale of financing and theirs contribution to the economic development of the country is comparatively asymmetric. Obviously, the causes are various. Does the upgrade of human capital level of private enterprise's superior leaders' have effect on the enterprise's scale of financing, positive or negative? Can it be an initiative and tentative way to break the plight of private enterprise's financing? That is just on what this study put great emphasis.On the basis of introducing the background of the research and relative concepts, this thesis reviews the literatures on the researches on private enterprise's financing and human capital home and abroad at first. In subsequence, the thesis analyzes on the status quo of private enterprise's financing in China. Then, on the basis of the data of our field survey on 113 private enterprises, using the multiple linear regression model, the research studies the effective factors of private enterprise's scale of financing, and have put great emphasis on comparing and analyzing the correlation between human capital level of private enterprise's superior leaders' and private enterprise's scale of financing. The empirical analysis shows that the scale of the corporation is still the first factor in private enterprise's financing, human capital stock of the enterprise's superior leaders' has positive effect on financing, and its degree and significance are far higher than the indexes of the enterprise's performance. In the process of commercial banks' loan to private enterprise, the bad phenomenon of paying too much attention to the scale of corporation while neglecting its performance still exists in some extent. The communication between commercial banks and private enterprises has obstacle, and the information between them is lack of openness. At last, according to the theoretic analysis and the result of empirical test, the thesis has put forward a tentative way to break the plight of private enterprise's financing and corresponding suggestions, and has pointed out the deficiency and what may ameliorate in the research.