【摘要】：近幾年來,上市公司特別是中小板與創(chuàng)業(yè)板涌現(xiàn)出了大量的CEO離職案例,逐漸成為市場關(guān)注的焦點(diǎn),因?yàn)槠髽I(yè)的CEO關(guān)系到企業(yè)的正常運(yùn)營以及戰(zhàn)略決策的制定。但是,目前很多學(xué)者都將CEO的離職與企業(yè)的經(jīng)營業(yè)績聯(lián)系起來,認(rèn)為是企業(yè)經(jīng)營業(yè)績下滑導(dǎo)致了CEO的離職,而對于近年來出現(xiàn)的CEO離職套現(xiàn)的說法,并未進(jìn)行系統(tǒng)的理論及實(shí)證研究。 本文從CEO角度出發(fā),將CEO按是否持股進(jìn)行分類,研究CEO特征對持股和不持股CEO離職的影響,并分析這些影響特征的異同點(diǎn),為我國在現(xiàn)階段制度環(huán)境和文化環(huán)境中如何更好的開展人才戰(zhàn)略、挽留核心人才提供了理論借鑒和實(shí)踐指導(dǎo) 本研究采用了文獻(xiàn)綜述、數(shù)據(jù)搜集和統(tǒng)計(jì)分析等方法。首先,本文綜述了與CEO離職相關(guān)的研究理論和成果；其次,從國泰安公司開發(fā)的數(shù)據(jù)庫以及深交所官網(wǎng)、和訊網(wǎng)對研究所需的上市公司財(cái)務(wù)數(shù)據(jù)和CEO相關(guān)情況進(jìn)行搜集；第三,在文獻(xiàn)綜述和數(shù)據(jù)搜集的基礎(chǔ)上,總結(jié)了影響CEO離職的因素,提出了持股及不持股CEO離職的研究假設(shè)；第四,采用SPSS統(tǒng)計(jì)軟件對搜集的數(shù)據(jù)進(jìn)行描述性分析和相關(guān)分析,并分別建立持股和不持股CEO的離職模型,進(jìn)行Logistic回歸分析,得出相關(guān)結(jié)論。 研究發(fā)現(xiàn),對于持股和不持股CEO而言,CEO薪酬差距、企業(yè)經(jīng)營績效和CEO兩職合一均顯著作用于CEO離職,系數(shù)為負(fù)值。不持股CEO的任職年限與離職之間是負(fù)相關(guān)關(guān)系。對于持股CEO而言,CEO的持股比例與離職之間關(guān)系為正U型,股票價(jià)格與離職呈顯著的正相關(guān)關(guān)系；CEO受教育水平與離職之間呈負(fù)相關(guān)關(guān)系。但是CEO的年齡與持股及不持股CEO離職都不相關(guān)。
[Abstract]:In recent years, a large number of CEO turnover cases have emerged in listed companies, especially in small and medium sized boards and gem, which gradually become the focus of market attention, because the CEO of enterprises is related to the normal operation of enterprises and the formulation of strategic decisions. However, at present, many scholars have linked the turnover of CEO to the operating performance of enterprises, and think that the decline in business performance has led to the departure of CEO, and the theory that CEO quit to cash out in recent years. No systematic theoretical and empirical research has been carried out. From the point of view of CEO, this paper classifies CEO according to whether it holds shares, studies the influence of CEO characteristics on the turnover of shareholding and non-shareholding CEO, and analyzes the similarities and differences of these characteristics. It provides theoretical reference and practical guidance for how to better develop talent strategy and retain core talents in the current institutional and cultural environment of our country. This research adopts literature review, data collection and statistical analysis. Firstly, this paper summarizes the research theory and achievements related to CEO turnover. Secondly, it collects the financial data and CEO related information of listed companies from the database developed by Cathay Pacific and Shenzhen Stock Exchange. On the basis of literature review and data collection, this paper summarizes the factors that affect the turnover of CEO, and puts forward the research hypotheses of stock holding and non-shareholding CEO turnover. Fourthly, using SPSS statistical software to analyze the collected data descriptive analysis and correlation analysis. The exit models of shareholding CEO and non-shareholding CEO are established, and Logistic regression analysis is carried out to draw the relevant conclusions. It is found that, for both shareholding and non-shareholding CEO, CEO pay gap, corporate performance and CEO both play a significant role in CEO turnover, and the coefficient is negative. There is a negative correlation between the tenure of CEO and the turnover. For the shareholding CEO, the relationship between the share holding ratio of CEO and the turnover is positive U-type, the stock price has a significant positive correlation with the turnover, and the education level of CEO has a negative correlation with the turnover. But the age of CEO has nothing to do with the stock holding and the departure of the non-shareholding CEO.
【學(xué)位授予單位】：南京師范大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F272.92;F832.51;F224

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