The Construction of a Comprehensive Index of Executives' Positive Psychological Characteristics and Its Impact on Enterprise Human Capital Accumulation: A Principal Component Analysis Approach

Wu Qiao

ผู้แต่ง

Wu Qiao Payap University, Chiang Mai, Thailand

คำสำคัญ:

Positive Psychology, Human Capital Accumulation, Top Management Team, Executive Traits

บทคัดย่อ

This study aims to construct a comprehensive index of the positive psychological characteristics of Top Management Teams (TMT) and examine its influence on enterprise human capital accumulation, integrating Positive Psychology and Upper Echelons Theory. The study utilizes panel data from 1,509 listed companies on the Shanghai and Shenzhen A-share markets from 2015 to 2022, totaling 12,072 observations. Distinct from previous research relying on single indicators, this study employs Principal Component Analysis (PCA) to mitigate multicollinearity among seven key attributes: age, gender, education, tenure, shareholder affiliation, emotional tone, and charitable giving.

The PCA results identified three core dimensions explaining 58.1% of the cumulative variance: 1) Demographic and Governance Structure Characteristics, 2) Executive Human Capital Accumulation Path, and 3) Positive Psychological Behavioral Characteristics. Empirical evidence confirms that the constructed composite index has a significant positive correlation with enterprise human capital accumulation, both in terms of Flow (training expenses) and Stock (proportion of employees with a bachelor's degree or higher). This research provides a robust, multi-dimensional measurement tool that systematically elucidates the mechanism by which executives' psychological traits drive strategic investments in human resources.

เอกสารอ้างอิง

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