上市高新技术企业高管人员持股与企业绩效关系实证分析

An Empirical Analysis of the Correlation between Senior Manager Stockholding and Corporate Performance of Listed High-tech Enterprises

选取高新技术企业中颇具代表性的信息技术行业上市公司作为研究对象,采用分类比较和回归分析的方法,对其高管持股与公司绩效关系做实证分析。分析结果表明,公司经营绩效与高管持股比例之间呈二次方曲线关系,当高管人员持股比例低于27.93%时,公司经营绩效与高管人员持股比例正相关。提出现阶段我国高新技术企业应积极实施股权激励。

This article made an empirical analysis of the correlation between senior manager＇s stockholding level and corporate performance of the listed companies in the information technology industry of china with the methods of sorting comparison and regression analysis. The results show that there is a quadratic nonlinear relationship between senior manager＇s stockholding le,level and corporate performance, which is positively correlated when the senior manager＇s stockholding level is lower than 27.93%. Therefore, at present it is necessary to enforce stock incentive for china＇s high-tech enterprises.