Research On The Influence Of Entrepreneur Human Capital To The Corporate Performance

In the era of knowledge economy, human capita l as the concentrated expressionof knowledge resource, has become the ma in driving force of econo mic develop ment.Entrepreneur human capita l, as the highest level of human capital, is one of the mostscarce resource of human society, and thus is also one of the most active and criticalcompetitive element in the enterprise. To some extent, the development of enterprises isdue to the comprehensive effect of entrepreneur human capital, the competition amongenterprises is actually the competition of entrepreneurs, so a study on entrepreneurhuman capital has practical significance. This paper attempts to use empirical researchmethods to reveal the effects of entrepreneur human capital on corporate performa nce,so as to provide new emp irical evidence to improve enterprise performa nce.Firstly, by using enterprise resource basis theory, the principal-agent theory and thetheory of human capital property right, the writer analyses the impaction on corporateperformance disclosure by entrepreneur human capital from the theoretical angle. Secondly,based on the annual data during2009-2011in China A-Share listed companies, this paperempirically tested the influence of characteristics of entrepreneur human capital oncorporate performance. Empirical results show that: First, the entrepreneur salary isimpacting significantly to corporate performance, the proportion of entrepreneurownership is positively related to corporate performance, but it doesn‘t pass the empiricaltests, thus is because the shares hold by the entrepreneur is low and the effectiveness ofequity incentive plan in Chinese listed companies is not very operated; Second, the age ofentrepreneur is positively related to corporate performance, entrepreneurship educationand tenure also influence the corporate performance but not obviously. Lastly, bathed onthe theoretical analysis and empirical findings, the paper proposes some suggestions: A.Establishing and perfecting the entrepreneur training system. B. Perfecting the incentivemechanism. Improve the annual salary system in enterprises, and gradually establish along-term incentive system including equity incentive. C. Establish an effectiveentrepreneur selection and training system, considering the characteristics of entrepreneurs,such as age of entrepreneurs, entrepreneurship education and entrepreneur tenure. D.Improve the corporate governance structure.