上市房地产企业人力资本与绩效关系

The Relationship Between Human Capital and Performance of Listed Real Estate Enterprises

利用2015-2018年间A股102家上市房企财务面板数据,选取10个主要财务指标,使用因子分析法计算得出企业绩效的综合指标,选取员工教育投资、职工薪酬、创新型人力资本投资及大股东持股比例四个维度作为解释变量。研究发现,房企高管的高薪酬给付、大股东持股比例对企业的综合绩效有正向促进作用;而普通员工的学历层次、薪酬给付及人员流动及研发投入未能对企业绩效起到正向的影响。

Based on the financial panel data of 102 listed A-share real estate enterprises from 2015 to 2018,the paper selects the 10 main financial indicators and uses factor analysis to calculate the comprehensive indicator of enterprise performance,and then selects the four dimensions of employee education investment,employee compensation,innovative human capital investment and shareholding ratio of major shareholders as explanatory variables.The results show that the high salary payment of the executives of real estate enterprises and the shareholding ratio of large shareholders have the positive effect on the overall performance of the enterprises;however,the education level of ordinary employees,salary payment,personnel turnover and research and development investment fail to have the positive effect on the enterprise performance.