A Study On The Relationship Between The Characteristics Of Evaluation Executives?Political Connection And The Performance Of Evaluation Institutions

In the late 1980 s,China's asset evaluation industry was born under the background of foreign investment in China and the reform of state-owned enterprises.With the advancement of state-owned enterprise reform,China's asset evaluation industry has gradually developed and expanded.The business scope and service field of asset appraisal have been gradually expanded,and the practicing standards and abilities of valuers have been steadily improved,and the social influence of evaluation institutions has been gradually enhanced.Asset evaluation industry has developed into an indispensable part of the market economy,China's economic and social development has played an important role.For the assessment of the organization,the company's development in addition to the overall level of development of the industry,associations and industry legal sophistication and other factors,the most important thing is inseparable from its own valuer.Among the appraisers,the greatest impact on the assessment of the company than the partners.The partners are directly involved in assessing the company's strategy and decision making.Their behavior directly affects the future of the company and the ability of the partner to develop the right strategy is influenced to some extent by the characteristics of his team.At the same time,China's asset appraisal industry can not develop without government support.The original purpose of the evaluation industry is to serve the reform of state-owned enterprises.The evaluation institution's political background will also influence the performance of the appraisal institution.This paper tries to study the relationship between the characteristics of senior executives,the relationship between political affiliation and the performance of the evaluation institutions through the annual income data of the rating agencies published by China Assets Appraisal Association.Compared with foreign countries,China's asset evaluation industry started late,the development of asset valuation theory is not rich enough.Therefore,this paper,after combing the literature,decided to apply the scholars' research on the characteristics of executives,political connections and enterprise performance to the evaluation institutions.After finishing the analysis of related literature,we find that there are high-level theory,human capital theory and property right theory in the study of executives' characteristics,political connection and enterprise performance of listed companies.Therefore,this paper,combined with the characteristics of the evaluation agencies,after theoretical analysis,put forward the article's hypothesis.The empirical research part firstly introduces the acquisition,screening,variable design and model building of the sample data.Then,a preliminary test was conducted by descriptive statistical analysis and correlation analysis.The results of the preliminary test show that some of the variables in the characteristics of the evaluation partners are indeed related to the performance of the evaluation institutions.Subsequently,random effect model regression analysis was conducted to test the robustness of the model.According to the results of the regression analysis concluded that the article's conclusions:(1)high education does not mean high performance.In the characteristics of the evaluation team,the average educational level is not related to the performance of the evaluation institution.(2)evaluation experience is more important.There is a significant positive correlation between the duration of the practice and the performance of the evaluation agency.(3)The longer the term of service,the better the performance of the evaluation institution.(4)The gender structure of the partners has a significant impact on the performance of the evaluation institutions.The higher the proportion of women in the partner team,the greater the performance of the evaluation organization.(5)China's asset appraisal industry is highly competitive.There is no significant correlation between the evaluation institution's political connection and the performance of the evaluation institution,and the evaluation institution relies more on self-evaluation of the service quality to expand the market share and improve the performance.Finally,the following suggestions are put forward:(1)Evaluation agencies need not to pursue highly educated talents such as doctoral students blindly,but still need to maintain a certain academic level in order to deal with the emerging assessment business.(2)Evaluation agencies need to assess experienced partners and assessors.(3)The evaluation team structure needs to be further optimized.When the partner changes,the female appraiser and the appraiser with longer term are given priority.The research innovation of this paper mainly has the research angle of view and the research method innovation.The study on the relationship between the characteristics of the top executives,political connections and the performance of the evaluation agencies is innovative in the field of asset evaluation.At the same time,this paper adopts the random effect model to carry out the empirical analysis and has certain innovation.