The Influence Of Managerial Ability On Company Performance From Multiple Perspectives

The report of the 19 th National Congress of the Communist Party of China pointed out that ‘talent is a strategic resource for realizing national rejuvenation and winning international competition’.The comprehensive national competition in today’s world is the competition of talents.Only by people oriented,advocating knowledge and respecting talents can we win the great victory of socialism with Chinese characteristics in the new era.With the development of behavioral accounting and echelons theory,the academic community began to pay attention to the impact of managerial traits on company performance.But the research on managerial ability is still not mature,especially the analysis of the mechanism of managerial ability is not in place.There are only a handful of theoretical studies.Based on this,this paper takes the 2011-2016 GEM listed company as a research sample,and empirically analyzes the impact of managerial ability on company performance from multiple perspectives.Firstly,we propose the ‘radar chart’ of managerial ability based on BP neural network.The research finds that in the comprehensive index of managerial ability,the salary has the greatest impact,followed by age,gender,team size,and finally education background.Secondly,the paper analyzes the impact of managerial ability on company performance.The results show that managerial ability has a significant positive impact on the company’s financial performance and market performance.For financial performance,the conclusion shows better robustness on the regional dimension and the property attribute dimension.But the market performance of the eastern region and non-state-owned enterprises is more prominent.On this basis,this paper analyzes the mechanism of the economic consequences of managerial ability from the perspectives of discretion,monitoring and responsibility.First,management discretion has a positive adjustment effect on the relationship between managerial ability and corporate financial performance,and shows strong robustness in the eastern region and non-state-owned enterprises.But this regulation effect on enterprises market performance is not established.Second,under strict market monitoring,higher management discretion can promote the improvement of managerial ability on the company’s financial performance and market performance,and this conclusion has a higher significant level of financial performance than the market performance.Third,the positive adjustment effect of corporate social responsibility on managerial ability and corporate financial performance exists and is significant,even has good robustness in the regional dimension.But this regulation effect does not hold on market performance.In short,exerting the managerial ability to be influenced by internal discretion,external market monitoring,and social public responsibility.Financial performance has a stronger explanatory power than market performance.In summary,according to the research idea of ‘one center,two attributes,and three perspectives’,this paper focuses on solving the problem of the influence of managerial ability on the company’s financial performance and market performance from three different perspectives of discretion,monitoring and responsibility under the regional attributes and the property attributes.The study found that if enterprises want to develop,decentralization is the key,supervision is the guarantee,and responsibility is the carrier.The so-called ‘planting the phoenix tree,attracting the phoenix.’ The article puts forward the construction of the ‘decentralization + supervision + responsibility’ environmental system.Enterprises,markets and governments must share the same direction,resonance,synergy and complementarity,creating a good environment for talent cultivation and development.The research conclusions further enrich the theoretical research on managerial ability,support the government’s strategy of ‘talented country’ and ‘talented enterprises’ from an empirical perspective,and have practical guiding significance for ‘optimizing the talent team and strengthening the environment for talent development’.