Empirical Study on Senior Managers and Performances in Companies of High-Tech based on SPSS Software Regression Analysis

摘要

Different from the separation between ownershipand corporate right of control in traditional companies,human capital and the invisible assets under its controlcontributes more to the corporate value in high-techcompanies than the visible ones. There are many differencesbetween the corporate governance in high-tech companiesand the standardized ones, some of which are even essentialdifferences. Such differences come mainly from the value ofhuman capital and collective cooperation in high-techcompanies. An empirical study can be conducted here onsenior managers’ characteristics and performances ofhigh-tech companies by SPSS software. The results indicatethat in the heated competition among high-tech companiesthere is a significant positive correlation between ROE andTobin’s Q, and between ROE and the summation ofproportion of stocks held by senior managers, and alsobetween ROE and the average salary of senior managers. Itis suggested that high-tech companies should well select themanagers, increase the proportion of stocks held by themand improve the salary system for them, and all of these willlead to the reduction of the agency cost and also theimprovement of company’s performances.