| CEO plays a core role in enterprise top management team. CEO’s comprehensive qualities, social capital, management capacity to some extent influence the success or failure of an enterprise. There are increasing amounts of listed companies in Shanghai and Shenzhen stock exchange markets, which separated management from ownership. To December31st,2012, enterprises which separated management from ownership reached77%. On the one hand, value of CEO became more and more prominent. On the other hand, agency risk, which might arise from information asymmetry and interests confliction of owners and managers, cannot be avoided. Accessing CEO human resource value by third party is a hot issue in academia and business community. By making CEO value transparency, we can reduce the information asymmetry of owners and managers and the risk that resulted from improper choice of CEO. So reduced the agency costs. Thus building a scientific and practical CEO human resource value comment system is not just a theoretical problem, but also a practical problem that need to be solved urgently.This paper started from the definition of human resource value, and defined the CEO human resource value. On the basis of previous researches, we summarized the key features of CEO human resource value, which can impact corporate performance. Based on three principles, which are data availability, evaluation system scientificity, results replicability, we constructed the CEO human resource value comment system. The index system mainly consisted four dimensions:CEO demographic characteristics value, capacity value, social capital value and business ethics value. Taking715listed companies from Zhejiang, Jiangsu, Shandong and Guangdong as empirical samples to be evaluate. With the SPSS19.0statistical software, we systematically evaluated the CEO human resource value of four provinces. The main results are as follows:(1)The human resource value of Xuguang Tan of Weichai Power was the highest among all samples;(2) From the perspective of province, only the score average of CEO human resource value of GuangDong listed companies was lower than the overall level of four provinces. CEO human resource value of ShanDong listed companies was the highest, followed by ZheJiang and JiangSu;(3) From the perspective of industry, CEO human resource average value of eight industries were higher than the overall level of four provinces. Cultural entertainment industry was the highest, followed by financial industry. Accommodation and catering industry was the lowest;(4) From the perspective of governance structure, the human resource value, population characteristic value and social capital value of CEO, who also served as chairman, were higher than those not, however, the remaining factor scores were lower than those not. |
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