An Empirical Study On The Relationship Between Executives And The Relationship Between Executives

Chinese society is a special society which pays much attention to the relationship network between people and is good at using the network to achieve the very goals. In Chinese traditional unique context of "family culture", the relationship between the Chinese TMT is not limited only to working relationship, but will be extended to the social relations of life, these relationships will to some extent affect the members of the decision-making, so as to affect the enterprise growth. Because gem listed companies in China are different from the state-owned enterprises, their business decisions are less controlled or intervened by the government, thus the relationship between the TMT members becomes even more sensitive, and the effect on enterprise growth will thus be more significant.This paper mainly studies the influence the internal relationship between the gem listed company executives on the enterprise growth. First of all, searching a large number of executives materials, sort out each genetic relationship, education relationship and business relationship between executives manually, using the factor analysis to work out composite scores as a quantitative index of enterprise growth. Then do the empirical analysis to find out the influence of executives relationship(there is or there is not)and its steady(steady or not steady) on the enterprise growth on the same stage. We find that the growth of enterprises with relationships between executives shows better than those enterprises without relationships between executives, maintain the stability of these relationships will promote the growth of the enterprise, that is to say, the stable relationship between executives is a kind of assets of the growth of enterprises; This article also studies those which already obtain a stable relationship structure between executives, we find that on different stages of development, the importance of the executive relationship capital is also different: for companies listed before, the relationship between executive capital has a promoting effect to the enterprise growth, but after this the effect will be not significant. Finally, the paper puts forward some related countermeasures in corporate executive relationship building and executive relationship capital management based on the enterprise’s sustained growth.By comparing the domestic and foreign research status, the innovation of this article lies in: breaking the traditional research mode of previous scholars who studied the relationship between executive characteristics and corporate performance, this paper starting from the relationship between executives, find a new path of studying the effect the internal relationship between the executives exerted on the gem listed enterprise growth. The conclusion of this paper can effectively guide the construction of TMT relationship, so as to build the most beneficial relationship of TMT for enterprise growth. At the same time, the conclusion also has a certain guiding significance for investors to identify the high quality investment project with a prospect future, so as to allocate the investment funds rationally.