Family Enterprise Senior Management Team And Study On The Relationship Between The Corporate Performance

With the integration of the world economy and the rapid development of our country’seconomy, the family business facing more and more complex and changeful internal andexternal environment, How to build an efficient top management team(TMT) is more andmore important to family business. So it has a certain reference to analysis the relationshipbetween the TMT and enterprise performance in family business, while the domesticstudies have made a little progress in the past ten years. In this thesis, TMT characteristicsinclude the following factors: age, tenure, education and team size; the author choose theperformance indicators in three facts: profitability indicators, asset turnover indicators,corporate solvency indicators. The data we select are from101listed family firms, the datacollected were been analyzed by SPSS statistical software.The empirical results show that the relationship between TMT characteristics andcorporate performance is not significant. The TMT age is negative related to asset turnoverperformance and it is not related to profitability performance and corporate solvencyperformance. The TMT age heterogeneity is not related to the corporate performance. TheTMT tenure is not related to the corporate performance. The TMT tenure heterogeneity ispositively related to profitability performance and not related to the asset turnoverperformance and corporate solvency. The TMT education level is positively related toprofitability performance and not related to the asset turnover performance and corporatesolvency. The TMT education heterogeneity is not related to the corporate performance.The TMT size is negative related to corporate solvency performance and not related to theprofitability performance and asset turnover performance.In all, the TMT characteristics have different affects on different corporateperformance, the author analysis these results deeply and also give some meaningfulsuggestions for family business on the building of the top management team.