Top Management Team Members Change Influence On Enterprise Performance: An Empirical Study

In1984, management scholars had" high order theory" theory, immediately causedacademia about the theory of questioning and validation. In the attention to this theoryresearch, we can find that make outstanding contribution and influence is the executiveteam members change issues of concern and research. And from the research results,executive team members, members of the individual characteristics of the interpersonalrelationship and team executives external environment characteristics and other factorson top management team members change to different degree of influence. Conversely,top management team members after changes to the newly formed team executives alsohas a certain degree of influence, such as team cognitive ability, teamwork ability andteam have social capital and other aspects, and to the enterprise in the future for quitesome time performance influence.As in recent years, the vigorous development of China’s economy, the stock marketcontinuously improve and expand, in many listed companies has also produced manyexecutive team members change. Regardless of is in the management research orresearch fields of economics and other aspects are more and more listed companiesexecutive member change phenomenon triggered by the degree of attention, especiallyabout the executive team of instability and the frequent occurrence of executives tochange will be the performance of the enterprise greatly adverse reaction. In this paper alarge number of top management team theory, based on existing literature study,empirical tests of executive change is really the organization performance especially hassignificant effect on the financial index.This paper firstly in the executive team members change theories and literatures,reference and integration of the upper echelon theory, conflict theory, agency theory andclassical theory, in order to Shenzhen listed companies’’ annual report as the basis, in theempirical analysis using factor analysis, variance analysis, regression analysis and otheranalytical methods, in the organizational performance measures used by financial indexof the profit rate, the rate of return on investment, and the turnover rate of the threedimension, the executive team members change and the relationship between corporate performance and the relationship between the comprehensive analysis and research. Weget the following conclusions:(1)Through exploratory factor analysis, in this paper seven business performancemeasurement indicator variables can be picked out by turnover, the rate of return oninvestment, the turnover rate of the three variables instead of other indicators ofenterprise performance.(2) The annual reports of Listed Companies in Shenzhen set up an analyticalframework, to industry, year turnover, the rate of return on investment, the turnover rateas an indicator variable, and in this paper added the executive team members of thevariable number of changes, according to the results of variance analysis, can be seen invarious factors are not statistically significant therefore, the variables on the performanceof the enterprise are without sound.(3) Statistical Shenzhen listed companies annual financial report, the topmanagement before and after performance performance analysis and comparison, basedon regression analysis of node test fruit, can draw the executive team members changeson enterprise performance without effect...