Research On The Impact Of Top Management Characteristics On The Growth Of Listed Companies In GEM

With the continuous optimization of China’s economic structure and continuous improvement of the capital market,GEM is developing rapidly,It has played an important supporting role in promoting scientific and technological innovation and building a modernized economic system.In the GEM,The proportion of listed companies in the manufacturing industry reached 96 percent.Its healthy growth is not only related to the healthy development of the GEM,It is also related to the important guarantee of "Made in China" can realize "China intelligent manufacturing","manufacturing country" can become "manufacturing power".There are many factors that affect the growth of a company,among them,senior managers as the core of the enterprise human resources,directly affect the company’s strategic decisions and day-to-day operations.The demographic,social and economic characteristics of the executives will affect the company’s daily operation and management mode by influencing their values and behavior,and then decide the future development speed of an enterprise and the level of the company’s growth.Therefore,learning the effect of executive characteristics on firm growth has a very important significance to promote the growth of GEM manufacturing enterprises and achieve healthy and sustainable development.Therefore,this paper is based on the Upper Echelons theory,Principal-agent theory,Human Capital theory and Enterprise Growth theory,China’s GEM manufacturing companies as research objects,selecting the relevant data from 2016 to 2020,the growth of manufacturing enterprises on the GEM is analyzed.And study the demographic characteristics of executives,social characteristics of the growth of GEM manufacturing enterprises.The results of the study are as follows:(1)The academic background of the executive has a significant positive correlation with the growth of the company;(2)There is a significant positive correlation between the executive’s overseas background and the company’s growth;(3)There is a significant positive correlation between the characteristics of executive compensation and the growth of the company;(4)There is a significant positive correlation between the seniority and the growth of the company;(5)Executive age and executive education have no significant relationship with company growth.Therefore,the paper makes recommendations:(1)Attract and cultivate expert executives;(2)Cultivate executives with international vision and market thinking;(3)Optimize the incentive mechanism of executive compensation;(4)Optimize the selection and evaluation system of senior managers.With a view to the growth of GEM manufacturing enterprises to enhance the selection and management of executives to provide a certain reference.