管理水平、职业经理人与企业绩效--来自中国A股高校上市公司2001～2004年的实证检验

通常研究高新技术企业成长更关注企业创新能力,我国高校上市公司连接着技术与资本市场这两个现代经济发展最重要的要素,有着技术创新的先天优势,然而其企业绩效却差于其它非高校的高新技术企业。本文用实证的方法研究了高校上市公司与非高校上市公司的企业绩效与管理水平关系,并进一步研究企业高管层是否引进了相当比例的外部职业经理人对企业管理水平、企业绩效的影响,认为要提高高校上市公司绩效应适当引进外部职业经理人、引入股权激励,完善其公司治理水平。

Management Level、Professional Manager and Firm Performance--An Empirical Test of Listed Company of College and University in China between 2001～2004

In general,the firm innovative power should be stressed in studying high-tech enterprises' growth.However,in China connecting the two important factors of technology and capital market in modern economy,the listed companies of college and university show worse performance than non-college and university high-tech enterprises.The paper studies the relation of firm performance and level of management empirically between college and non-college listed companies.Moreover,by studying whether invite outer professional manger makes effect to firm level of management and performance,the author argues that inviting outer professional manager,taking equity option plan and perfecting corporate governance can raise performance.