| In recent years,the haze problem,the eutrophication problem,groundwater pollution,acid rain,black and odorous water problem exited in our country.Those problems were harmful to public health and reduced the quality of people's life.Our country's various pollutant emissions were at a very high level,the problem of environmental pollution had became the bottleneck of the development of the overall well-off society in our country.Our country has paid more and more attention on the problems of environmental pollution.The government payed a lot of attention to the environmental issues,and a series of policies were conducive to the accelerated development of Chinese environmental protection industry.This paper aimed to study the influence of CEO characteristics on corporate value,R&D and technological innovation,and to explore what kind of CEO is conducive to the future development of Chinese environmental protection industry listed company.First,this paper selected age,tenure,education background as CEO characteristics,studyed its effect on corporate value by building Stochastic Frontier Model.The results showed that CEO's age is negative to corporate value,while CEO's tenture is positive.Then we added degree,shareholding ratio,working experience,internal elections,autonomy and openness as CEO characteristics,studyed its effect on R&D.The results showed that CEO's degree,shareholding ratio are positive to R&D,while the educational background of economic management is negative.In the aspect of technological innovation,CEO's tenture,working experience,autonomy are positive to technological innovation,while age is negative.Then this paper studyed CEO's openness for futher resarch,the results showed that CEO's openness is positive to technological innovation,but has little effect to corporate value and R&D.At last,according to the result,we provided some suggestions to the environmental protection industry listed company about how to select CEO. |
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