Human Resources,Institutional Environment And Enterprise Value

Discussing the internal determinants and external influencing factors of listed new energy vehicles can provide theoretical basis and experience for the government to formulate relevant policies and measures,improve resource layout and create enterprise value in the new energy vehicle industry.This paper introduces the theoretical basis and literature study,on the basis of the new energy automotive industry human resources,the relationship between institutional environment and enterprise value for the analysis of the system,and further to the human resources,institutional environment and enterprise value has carried on the quantitative,then using the sample data to the new energy automotive industry system of human resources,environment and analyses the relationship between the enterprise value.The main research results and conclusions are as follows:(1)Based on the characteristics of listed new energy automobile companies and the existing research results,nine enterprise value indicators were selected and the principal component analysis method was used to construct the enterprise value evaluation model scientifically,and the enterprise value of China's new energy automobile industry was quantitatively evaluated.The study found that:the comprehensive enterprise value evaluation of listed new energy vehicle companies in China is generally good,with good performance in value index,poor performance in profitability index and growth index.(2)Based on the existing theories,the human resource index was quantified,and the human resource correlation model was constructed.Then,the correlation between human resource and enterprise value was analyzed and tested by using multiple regression analysis.The results show that executive compensation,employee scale,employee educational background,per capita operating income and the proportion of technical personnel are significantly positively correlated with enterprise value.(3)This paper analyzes and measures the institutional environment of each province in China,and empirically tests the mechanism of institutional environment on human resources and enterprise value of new energy automobile industry.The research found that:in the areas with good institutional environment,the executive compensation,the number of employees,per capita operating income and the proportion of technicians were significantly positively correlated with the enterprise value.In regions with poor institutional environment,executive compensation and per capita operating income have significant positive effects on enterprise value;employee size and ratio of technicians have significant negative effects on enterprise value;employee education background is negatively related to enterprise value,but not significant.The research results of this paper further enrich the relevant research contents of human resources,institutional environment and enterprise value,and have certain practical guiding significance for the creation of sustainable development environment in the field of new energy vehicles in China.