First of all, this paper expounds the connotation of enterprise managers’ traits and the theoretical basis of the research. Managers’ traits research in the field of finance is generally based on the Human Capital Theory and the Upper Echelons Theory. The research starts from the aspects of demographic characteristics, psychological characteristics, biological characteristics and environmental characteristics, and then studies the influence of managerial traits on enterprise financial behaviors, innovation performance, and corporate performance,etc.
Secondly, based on the CiteSpace knowledge maps, the author summarizes and visualizes the hot issues, high-frequency keywords and hot issue evolution of managers’ traits research based on financial perspectives. From the perspective of breadth, the research level is expanded from the level of the top management team to the individual level, and the measurement methods are becoming more and more abundant; from the perspective of depth, new variables such as managers’ psychological characteristics are studied.
Thirdly, this paper classifies and reviews the research levels and the metrics of managers’ traits. The study of managerial traits is based on two research levels: the executive team（integral）and the managers（individuals）. The metrics of managers’ traits mainly include demographic characteristics（such as managers’ age, gender, tenure and education background, etc.）, psychological characteristics（such as overconfidence and personality traits, etc.）, biological characteristics（such as facial features, DNA, brain nerves, etc.）and environmental traits（such as cultural characteristics and personal experience, etc.）.
Fourthly, the effects of managerial traits mainly include the influence of managerial traits on corporate financial behaviors and its economic consequences. The influence of managerial traits on corporate financial behaviors is reflected in the impact on investment decision-making, technological innovation and capital structure. The influence of managerial traits on enterprise economic consequences mainly refers to the impact on enterprise performance, innovation performance and corporate value.
Finally, this paper points out the existing shortcomings and the research directions worth exploring in the future. This paper analyzes the issues that should be further deepened in this field from the aspects of managerial traits’ financial nature, research level, measurement methods, influence effects and research framework integration.
Literature review and exploration, hot issue tracking and research outlook help us to clearly identify the influence mechanism and path of managers’ traits on corporate financial behaviors and the economic consequences. It is also beneficial for us to understand the new development of the new human capital theory and the corporate financial theory in the field of managerial traits comprehensively and deeply, and comprehend the academic value and practical significance of managerial capital as a tangible biological capital from a financial perspective.