Research On The Influence Of Entrepreneurial Human Capital On The Performance Of Listed Companies

With the increasingly fierce market competition and internationalization,entrepreneurs are the most scarce resources in economic development.In the process of economic restructuring in our country,entrepreneurs have a mainstay role for the listed company,which has a profound impact on entrepreneurial human capital on firm performance.This paper attempts to GEM listed companies as the object of empirical research,demonstrates the mechanism of internal influence of entrepreneur human capital on enterprise performance,to realize the importance of entrepreneur human capital,and finally puts forward the incentive for entrepreneurs,the entrepreneurs in the company can play better.Firstly,this paper introduces the research status of entrepreneur and entrepreneur human capital,and then draws the research status of entrepreneur human capital and enterprise performance.Secondly,this paper discusses the theory of entrepreneur,human capital,resource-based theory and principal-agent theory.Thirdly,through the literature reading,the paper clarifies the influence factors of enterprise performance.From the 3 aspects of the choice of investment returns,profitability and solvency status,asset operation.Divided into 9 financial indicators,the 419 listed companies in2015 gem financial statements as the research object,through the method of factor analysis,screening out the eigenvalue greater than 1 of the 4 factors as the common factor,using the correlation coefficient matrix evaluation model is established,using 4factors to describe the relationship between the financial indicators mainly reflects,factors of enterprise performance,provide the basis for the following.The research on the influence of entrepreneurial human capital on firm performance relationship,this paper selects 531 listed companies of gem's financial statements as the research object,using SPSS17.0 data analysis into the initial data.Secondly,the explanatory variable corporate performance(ROA)and three variables to measure the entrepreneur human capital of entrepreneur salary(SAL),entrepreneur education(LEV),the age of entrepreneurs(AGE),as well as the size of the two control variables of enterprise(SIZE)risk,enterprise(RIS)by regression analysis.It is verified that the positive relationship between the annual salary of the entrepreneur and the performance of the enterprise,the positive influence of the entrepreneur's academic record on the performance of the enterprise,and the positive influence of the age of the entrepreneur on the performance of the firm.Finally,we give some suggestions to establish the incentive and restraint mechanism.So that entrepreneurs in the listed companies in the direction of efforts,as much as possible to play its own management and innovation capabilities,to bring higher performance,higher return on assets and other positive financial indicators.