摘要：Different from the separation between ownership and corporate right of control in traditional companies, human capital and the invisible assets under its control contributes more to the corporate value in high-tech companies than the visible ones. There are many differences between the corporate governance in high-tech companies and the standardized ones, some of which are even essential differences. Such differences come mainly from the value of human capital and collective cooperation in high-tech companies. An empirical study can be conducted here on senior managers’ characteristics and performances of high-tech companies by SPSS software. The results indicate that in the heated competition among high-tech companies there is a significant positive correlation between ROE and Tobin’s Q, and between ROE and the summation of proportion of stocks held by senior managers, and also between ROE and the average salary of senior managers. It is suggested that high-tech companies should well select the managers, increase the proportion of stocks held by them and improve the salary system for them, and all of these will lead to the reduction of the agency cost and also the improvement of company’s performances.
关键词：high-tech company;senior managers;corporate governance;SPSS software;empirical study
