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1、暨南大学硕士学位论文中国创业板上市公司高管辞职动因实证研究AbstractAsof2013December,theestablishmentofthegemhasbeenmorethanfouryears,andChinagemisalsofrequentlyappearedallkindsofspecialphenomenon,oneofwhichistheGEMlistedcompanyexecutivesturnover.InviewofthespecialnatureofChinesegemmarket,domest
2、icscholarsalsoexplainstheimpactofresignationoftheenterprisesthroughthestockintheshorttermchangesbeforeandaftertheresignationofseniorexecutives.DuetotheGEMmarketopeningsoon,thispaperisstillconcernedabouttheproblemofexecutivestoresign,hopingthatmaycometodifferentconc
3、lusionsfromanewperspectiveonthespecialphenomenonoftheGEM.Thispaperinunderstandingtheexecutivestoresignbasedonthetheoryofcashandtheresignationofthegemexecutivesoftherelevantdataforin-depthanalysis,foundthatexecutivestoresignisnotthegeneraltheorythatthesimpleresignat
4、ionforcashtoexecutives,butthereexistmanyfactors.Thispaperfromtheperspectiveofactiveabdication,fromOctober2009toDecember2013ChinaGEMlistedcompaniesasasample,deeplyresearchesfromthecorecompetenceoftheCorporation,governancemechanismofenterpriseincentivemechanismandext
5、ernalsystemarrangementoffouraspectsofexecutiveresignation,anddrawstheconclusion:GEMlistedcompaniesannualaveragecorecompetence,executivesshareholding,executivesstockmarketsalaryratioandexecutiveturnoverpassengersasignificantnegativecorrelationrelationship.Theresigna
6、tionofindependentdirectorsandthenumberofexecutiveturnoverpassengerssignificantpositivecorrelation;stockaveragereturnrateonexecutiveturnoverpassengershadnosignificanteffect,theassumptiondoesnothold.Theresultsshowthatthegemexecutivesquitphenomenonistrade-offsandgameb
7、etweentheenterprisecoreability,governancemechanismandincentivemechanism,ratherthansimplytoresignforcash,whichisexecutivestaketheinitiativeandrationalchoiceresultsinthispaperconcludes.Theinnovationofthispaperistheresignationofseniorexecutivesresignfromtheperspective
8、ofmotivationfromtheanalysis:thevariableintothecorecompetenceasoneofthemainreasonstoexplaintheexecutivestoresign;forthefirsttimetotheresignationof