Ownership Property, Highly Educated Talents’ Employment And Enterprises’ Efficiency

By using data of Chinese listed firms from 2008 to 2013, this article, based on ownership property, attempts to explore the influencing factors and economic consequences of enterprises’ recruitment of highly educated talents from micro perspective. The results show that, compared with private enterprises, state-owned enterprises hire more highly educated talents and pay higher salary. Further analysis finds that central state-owned enterprises and local state-owned enterprises hire more highly educated person, and the local state-owned enterprises pay much higher salary for them. However, compared with state-owned enterprises, hiring more staff with high degree can improve the performance of private enterprises. There is no evidence that talents’ recruitment has a positive effect on the performance of central state-owned enterprises and local state-owned enterprises. Considering of regional segmentation and human capital stock, compared with state-owned enterprises, hiring more staff with high degree can improve the performance of private enterprises in eastern region. No evidence shows the same result in the middle and western regions.