Listed Companies In The Relationship Between Cost And Chairman Of Human Capital Characteristics Empirical Research

The study on high class's agent action in listed companies has been always the focus of attention of scholars for a long time, but there are not many single studies on the chairman of the board in core position. As the agent of shareholders in the company, chairman of the board always directly monitor the performance of manager level entrusted directly by shareholders. As the most important operator representative in a company, he is finally responsible for the plan and strategy, organization, performance and response of environment change of an enterprise, and is considered to be the most influential person in the enterprise power center who commands and controls the forwarding to the goal of enterprise organization.What effect the manpower capital of chairman of the board takes on the agent cost of the company and which manpower capitals characteristics have prominent influence on the agent cost of the company. This study is based on the point to try to seek the characteristics of chairman of the board in order to do some goods to the perfection of operator selection and the establishment of application mechanism from the empirical study between the characteristic relation between agent cost and manpower capital of chairman of the board in listed company. From the influence mechanism of company's agent cost of the chairman of the board, based on the company's governance theory, agent cost theory and manpower capital theory, the paper divides the chairman of the board into two types: operator with direct ownership and operator without direct ownership. And make empirical study on operators who gain the salary with direct ownership (A type) and without direct ownership (B type).The result showed that: after excluding the influence of company's scale and financial state, there is no correlation in statistics between education extent and company's agent cost in the personality of two types of chairman of the board. Sex, age and the agent cost of enterprise of A type has some correlation relationship; term of office has no prominent influence on the agent cost in the occupational characteristics of manpower capital of chairman of the board. One of the posts and if do part-time job has the correlation relationship with the agent cost in enterprise of A type; shareholding ratio of chairman of the board has not obvious relationship with the agent cost of enterprise of A type. The paper combines the actual state of the current listed companies in China and analyzes the statistics result and proposes the related policy suggestion, which means absorbs actively excellent managers to join the superior operation teams of the company and appoints the managers with some prestige to be chairman of the board and encourages chairman of the board to be the social post outside the company as well as giving up general manager, etc.