A Study On The Influence Of Executive Team Characteristics On Profitability In Retail Listed Companies

As the company's most important human capital,executive team characteristics have been the subject of academic attention.Although the development of retail industry in China is relatively long,the development is relatively mature,but with the increasingly complex economic environment,the current development of the retail industry there are some problems,such as the composition of the executive team structure and management mechanism is not perfect and so on.The structure of the executive team and the design of the team mechanism are reasonable,often directly affect the performance of the enterprise.Therefore,it is very important to understand the impact of the characteristics of executive team on the profitability of retail listed companies and to promote the further development of retail industry.This paper studies the relationship between the characteristics of executive team and the profitability of the company by using the method of literature research and empirical analysis in the retail industry listed companies as the research object.Under the guidance of theories such as human capital theory,high-level echelon theory,principal-agent theory and profitability theory,the paper selects the background characteristics(age,educational background,tenure)and incentive characteristics(salary level,shareholding ratio)The two indicators are used as explanatory variables,net assets yield and operating margin as explanatory variables,net cash flow operating expenses,total assets of the company,total asset turnover,operating income growth rate,tangible asset ratio,etc.As a control variable,365 sample data selected from 2011 to 2015 were studied by means of statistical analysis software SPSS18.0.The empirical results show that:(1)There is a significant positive correlation between the age of the executive team and the profitability of the company;(2)There is a significant positive correlation between the educational background and the profitability of the company;(3)There is a significant positive correlation between the salary level of the executive team characteristics and the profitability of the company;(4)The proportion of the holdings in the executive team characteristics the proportion of the senior management team characteristics of the term and the profitability of the company has a significant positive correlation;(5)And the company's profitability is not significant correlation.Finally,based on the empirical results of the paper,the paper makes a concrete discussion and analysis,and puts forward three suggestions on the actual situation of listed companies in China's retail industry: first,optimizing the selection criteria of senior executives;Management team internal operation efficiency;third,optimize the executive team incentive mechanism.The paper provides empirical data for the optimization of the senior management team structure and the profitability of listed companies in China,which is of guiding significance to the overall development of China's retail listed companies.