高管团队背景特征与券商效率的相关性分析

Correlation analysis between background characteristics of executive team and securities firms efficiency

利用我国2010年12月31日之前在A股上市的17家上市券商2011~2017年的面板数据构建计量模型,研究高管团队背景特征对券商效率的影响。研究结果表明:高管团队背景特征与券商效率存在相关性关系。具体来说,高管团队成员的平均年龄、在本公司内或者金融行业的工作经历对券商效率都有促进作用;高管团队成员的平均学历水平对券商效率具有抑制作用;高管团队成员性别构成与券商效率并不存在相关性关系。

This paper constructs a regression model by using the panel data of 17 listed securities firms listed in a-share market before December 31,2010 in China,and research the influence of background characteristics of executive team on securities firms efficiency.Empirical results show that there is a correlation between the background characteristics of senior management team and the efficiency of securities firms.Specifically,the average age and the working experience of the senior management in the company or the financial industry all contribute to the efficiency of the securities firms.The average educational level of the senior management has a restraining effect on the efficiency of securities firms.There is no correlation between the gender composition of senior management and the efficiency of securities firms.