A Correlation Study Between The Senior Executives' Characteristics Of Gem Company And Corporate Performance

With the continuous improvement of China's economic development and multi-level capital market system,gem companies have developed rapidly,playing an important supporting role in the national innovation and development and the construction of modern economic system,and playing an important role in China's capital market.However,due to the short establishment time of gem market in China and the relatively low market access conditions,there are still some problems in the overall development trend of gem companies,such as relatively single main business,management level and urgent improvement of enterprise performance.The existence of these problems is not only related to the social and economic environment of enterprise development,but also inseparable from the management decision-making behavior of gem company management.From the existing literature at home and abroad in recent years many scholars have conducted a lot of research on this question,but most of the existing research can reflect enterprise choose one aspect or some aspects of financial performance indicators as dependent variable,the senior management team characteristics index of single function are mostly from different perspectives on executive studies the characteristics and the correlation of enterprise performance,pertinence and practicability of the research achievements in the aspect is still some deficiencies.Based on this,this paper,on the basis of the existing research results,combined with the reality of gem companies in China,further deepen the research on the correlation between the characteristics of senior executives and corporate performance,which is of great practical significance.Based on the top step theory,social identity theory,decision theory and other related information theory as the foundation,to our country the gem listed companies as the research object,select the gem companies related data in 2013-2017,using the principal component analysis(pca)to build the gem companies comprehensive performance index system,and the methods of multivariate linear regression and nonlinear regression,respectively from the executive team heterogeneity,seniormanagement team characteristics at the point of view of the average,the gem of our country company executives characteristics and the correlation of enterprise performance is analyzed.On this basis,the paper further explores the heterogeneity of the senior management team,the specific manifestation of the correlation between the average level of the senior management team and the corporate performance,and the mechanism of its influence.The study found that there was a significant positive correlation between the age heterogeneity of senior management teams in gem companies in China and corporate performance,and the improvement of age heterogeneity had a positive impact on corporate performance.There was a non-linear relationship between the average educational level of senior management teams and corporate performance,and the correlation was positive within a certain degree range.Based on the research conclusion,proposed further attaches great importance to the construction of TMT heterogeneity,heterogeneity and executive education continuously optimize age structure,establish a scientific mechanism of manager selection,use,management,training,and create a good environment for communication,reduce the communication disorders such as countermeasures,so as to so as the gem of the company's senior management team and management,give some reference to further improve the corporate governance structure.