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Entrepreneurial human capital, equity concentration and firm performance: Evidence from companies listed on China's Growth Enterprise Market

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  • Jitao Hu
  • Longying Hu
  • Mingzhu Hu
  • Antony Dnes

Abstract

In this work, a sample of firms listed on China's Growth Enterprise Market (GEM) is employed to investigate the impact of human capital and equity concentration on firm performance. It shows that entrepreneurs' education level, industry experience and technical professional background have a positive impact on firm performance. Moreover, the higher the equity concentration, the better a firm's performance. Entrepreneurs with rich industry experience and a technical professional background tend to collect and condense equity, thereby increasing equity concentration. These findings reveal the relationship between entrepreneurial human capital and ownership concentration and enrich research on firm performance.

Suggested Citation

  • Jitao Hu & Longying Hu & Mingzhu Hu & Antony Dnes, 2023. "Entrepreneurial human capital, equity concentration and firm performance: Evidence from companies listed on China's Growth Enterprise Market," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 187-196, January.
    • Handle: RePEc:wly:mgtdec:v:44:y:2023:i:1:p:187-196
    DOI: 10.1002/mde.3673
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