Executives "Background" And Firm Performance

Gem listed companies in our country after the listed are widespread declines and executives frequently employee turnover, has brought the development of the gem market in China is extremely adverse effect, also seriously affected the efficient operation of financial markets in China. Executives as enterprise development strategic decision and the executor, to enterprise’s development and the company’s performance has a crucial role, and the gem company is at the initial stage of company development, this period executive’s personal resources and professional ability is more important to the development of enterprises. And the existing gem listed company executives "background" relationship with the company’s performance study is less, so the gem listed company performance and executive research has important theoretical and practical significance. This paper respectively from the executive’s political background, professional background, education background, age, background and so on four Angle to look at the background of executive’s relationship with the company’s performance. On the basis of relevant theories and research, selecting266samples of the gem companies, the gem listed company executives "background" relationship with the company’s performance has carried on the empirical research. Want to in the economic transformation under the background of the development of enterprises to provide empirical data and suggestion. Based on the2009-2012in shenzhen gem listing the actual control of man-made266listed companies of the individual research samples, the multivariate linear regression analysis and robustness testing. The results showed that: the listed company’s political background, education background, professional background and company performance was significantly positive correlation between the proportion of the senior management team has the political background personnel is higher, the better the company’s performance, executives from the higher level of education, the better the company’s performance, senior management team has a higher proportion of main business professional background, the better the company’s performance. And the age of executive background no significant relationship with the company’s performance.In this paper, the first part is introduction, mainly elaborated the research background and significance, this paper summarizes the current research status at home and abroad. Current situation of the second part analyzes the gem performance of gem listed company performance and executive feasibility analysis background correlation. The third part is the theoretical analysis of executive background and company performance. The fourth part is the variable selection and model building,2012by the end of the266listed on the gem background characteristics data of the listed company executives and the performance of the company, and executives will be further defined into the political background, industry expertise, education background, age, selected the company’s performance on behalf of the company profit ability index, the total return on assets, return on equity, and sales net profit margin, the control variables are selected with total assets scale, asset-liability ratio, equity concentration, to study the relationship between firm performance and executive background. Fifth part can build a for integrated interpretation of the company’s performance and executive background panel multivariate regression model of quantitative research, on the panel data analysis of the stability, then test model, and finally this article conclusion, Suggestions are put forward.