Research On The Impact Of Human Capital Of Senior Executives On Corporate Innovation Performance

Under the guidance of the national innovation-driven development strategy,the innovation power of Chinese enterprises has been continuously enhanced,but at the same time,technology-based enterprises represented by Huawei concept stocks are facing a severe international environment.How to improve innovation performance in the current complex market environment has become a practical problem faced by enterprises.As the main body of corporate strategic decision-making,senior executives have the right to allocate resources such as innovation input,which can further exert a significant impact on corporate development and innovation performance.In view of this,based on the research sample of Huawei concept stocks,this paper takes innovation input as the intermediary variable to explore the impact and mechanism of executive human capital on corporate innovation performance.After mastering relevant domestic and foreign literatures,this paper combines human capital theory,upper echelon theory,resource-based theory,principal-agent theory and innovation theory to select three dimensions of homogeneous human capital: educational level,professional title and academic background;one dimension of heterogeneous human capital:heterogeneity of executive professional background.Then the balanced panel data of sample companies from 2012 to 2020 are used as the research object to deeply explore the impact of executive human capital on corporate innovation performance,and further explore the mediating effect of innovation input.Besides,based on the enterprise life cycle theory,this paper explores the impact of executive human capital on corporate innovation performance in different development stages.The empirical results are as follows:(1)The executive educational level,professional title level and academic background are all significant driving factors for corporate innovation performance,while the heterogeneity of the executive professional background has no significant impact on corporate innovation performance.(2)Innovation input plays a significant mediating role in the influence of executive educational level and academic background on corporate innovation performance,that is,executive educational level and academic background can further improve corporate innovation performance by increasing innovation input;innovation input plays a "masking effect" in the process of the influence of executive professional title level on corporate innovation performance,that is,the negative impact of executive professional title level on innovation input will partially offset the promotion effect of professional title level on corporate innovation performance.(3)From the grouped regression results of the enterprise life cycle,the promotion effect of executive homogeneous human capital on corporate innovation performance is more significant in the corporate growth period;the executive heterogeneous human capital has an inhibitory effect on the innovation performance of enterprises in the growth stage,while it has a promoting effect in the mature stage.Based on the above research conclusions,this paper puts forward four suggestions for corporate innovation development: attaching importance to talent cultivation and strengthening the construction of senior management team;improving the governance structure,optimizing senior management supervision and evaluation mechanism;increasing innovation input and enhancing the innovation vitality of enterprises;planning the development path of enterprises reasonably,adjusting business strategy flexibly.