Study On The Impact Of Enterprise Growth Of The Listed Company From The Entrepreneur Human Capital

Whether a company can obtain the sustainable and stable growth in the fierce market competition is the most basic and objective criterion to examine its capacities of holding existence and development. In the process of a company's growing and development, the entrepreneurs are the soul of the company, the human capital contribution of the entrepreneurs plays an important role on the growth of the company.The thesis chooses the 675 listed companies in the year of 2009 as the samples. Firstly, the paper studies the factors which influence the growth of the company and establishes a model about the growth of the enterprise. Then, it views the CR (human capital return on investment) as the index which is used to measure human capital contribution of the entrepreneurs; finally, the thesis tries to analyze the impact of enterprise growth from the entrepreneur's human capital, gives a relative analysis based on the results of the investment value of listed companies, reflects the value of the entrepreneurs'human capital. According to the study, the thesis mainly draws the following conclusions:(1)The thesis can compute the enterprise's growth through establishing a model. The model is founded at the basic of 5 aspects consist of 18 indicators. The 5 aspects are: potential of development condition, assets operating performance, solvency position, return on investment conditions, profitability condition.(2) By examining the overall comparison between the CR and the average of the same industry, the thesis analyzes the relative value of CR and study the impact of enterprise from the CR. The paper proves that CR has a significant positive effect to the growth capability of enterprises, via establishing a model and the empirical research.(3) The thesis extracts a number of listed companies as the samples whose CR are higher and lower remarkably, then analysis the samples'development at the first two quarters of 2010. The results showed that the listed companies whose CR is top-ranking have a larger ROE and EPS. No doubt that it is more worthy for us to invest to such companies. On the country, the last listed companies'ROE and EPS are getting lower and lower, even face a trend of being ST or *ST. It fully illustrates that human capital of entrepreneur is so important to the growth of a company.