零售业上市公司高管团队特征对盈利能力的影响研究

发布时间：2018-04-21 01:30

本文选题：高管团队 + 零售业　；参考：《湘潭大学》2017年硕士论文

【摘要】：作为公司最重要的人力资本,高管团队特征一直受到学术界的关注。我国零售业虽然兴起的时间比较长,发展也比较成熟,但是随着经济环境的日益复杂,目前零售业的发展也存在着一些问题,如高管团队的构成结构和管理机制还不够完善等。高管团队的结构和团队间机制的设计是否合理,往往直接影响着企业的绩效。因此,准确认识高管团队特征对零售业上市公司盈利能力的影响,对促进零售业的进一步发展具有非常重要的意义。论文以零售业上市公司为研究对象,采用文献研究和实证分析相结合的方法,对高管团队特征与公司盈利能力的关系进行研究。在人力资本理论、高层梯队理论、委托代理理论和盈利能力理论等理论的指导下,论文选取高管团队的背景特征(年龄、教育背景、任期)和激励特征(薪酬水平、持股比例)两个方面的五个指标作为解释变量,现金流量净额/营业支出、公司总资产、总资产周转率、营业收入增长率、有形资产比率等作为控制变量,用因子分析法提取综合盈利能力指标作为被解释变量,借助统计分析软件SPSS18.0对2011-2015年所选的365个样本数据进行实证研究。实证结果表明:(1)高管团队特征中年龄均值与公司盈利能力存在显著的正相关关系;(2)高管团队特征中教育背景均值与公司盈利能力存在显著的正相关关系;(3)高管团队特征中任期均值与公司盈利能力存在显著的正相关关系;(4)高管团队特征中薪酬水平与公司盈利能力存在显著的正相关关系;(5)高管团队特征中持股比例与公司盈利能力的相关性不显著。最后,基于论文的实证结果,论文进行具体的探讨和分析,并结合我国零售业上市公司的实际情况,提出三点对策建议:第一,优化高管人员的选拔标准;第二,提高高管团队的内部运作效率;第三,优化高管团队的激励机制。论文可为我国零售业上市公司优化高管团队结构进而增强盈利能力提供经验数据,对促进我国零售业上市公司的整体发展具有指导价值。
[Abstract]:As the most important human capital of the company, the characteristics of the executive team have been concerned by the academic community. Although the retail industry of our country has been rising for a long time and its development is more mature, with the increasing complexity of the economic environment, there are some problems in the development of the retail industry at present, such as the structure of the executive team and the management mechanism are not perfect enough, and so on. Whether the structure of the executive team and the design of the inter-team mechanism are reasonable often directly affect the performance of the enterprise. Therefore, it is of great significance to understand exactly the influence of the characteristics of executive team on the profitability of the listed companies in retail industry and to promote the further development of the retail industry. This paper takes the retail listed companies as the research object, using the method of literature research and empirical analysis, to study the relationship between the characteristics of the executive team and the profitability of the company. Under the guidance of human capital theory, high-level echelon theory, principal-agent theory and profitability theory, the paper selects the background characteristics (age, education background, tenure) and incentive characteristics (salary level) of the executive team. The five indicators in two aspects are taken as explanatory variables: net cash flow / operating expenses, total assets, turnover ratio of total assets, growth rate of operating income, ratio of tangible assets, etc. The factor analysis method is used to extract the comprehensive profitability index as the explanatory variable, and the 365 sample data selected from 2011-2015 are empirically studied with the help of the statistical analysis software SPSS18.0. The empirical results show that there is a significant positive correlation between the average age and the profitability of the company in the characteristics of the executive team. (2) there is a significant positive correlation between the average educational background in the characteristics of the executive team and the profitability of the company. There is a significant positive correlation between the average term of tenure and the profitability of the company in the team characteristics. (4) there is a significant positive correlation between the salary level and the profitability of the company in the characteristics of the executive team. The correlation of profit ability is not significant. Finally, based on the empirical results of the paper, the paper makes a specific discussion and analysis, and combined with the actual situation of China's retail listed companies, put forward three countermeasures: first, optimize the selection criteria of senior executives; second, Improve the efficiency of the internal operation of the executive team; third, optimize the incentive mechanism of the executive team. This paper can provide empirical data for China's retail listed companies to optimize the structure of the executive team and enhance their profitability. It is of guiding value to promote the overall development of the listed retail companies in China.
【学位授予单位】：湘潭大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.51;F272.91

【参考文献】