Research On Top Management Team Characteristics And Enterprise Growth

The integration of development and competition of the global economy increasinglyfierce market, in collaboration with the division of labor of each department of thebusiness, quality and ability of top management are put forward new requirements andhigher challenge. Emerge as the times require rapid changes in executive team basedefficient cooperation to cope with the market’s operation mode. Differences in executiveteam ability, directly caused the enterprise strategic decision and development potentialof different, indirectly affect the growth of enterprises. Therefore, this paper tries toanalyze the characteristics of our country’s executive team as a relationship can make useof the capital and business growth.The relationship between top management team characteristics of human capital andsocial capital and enterprise growth were studied. First, review the related literature andcombing the domestic and foreign characteristics of TMT and the growth of therelationship between the enterprise, based on the analysis of the content and structurefeatures of China’s senior management team, the top management team characteristicsinto human capital dimensions and the dimensions of social capital. The top managementteam human capital with average age, average level of education, the average tenureindicators to reflect; top management team social capital include executive team insidethe network density, heterogeneity, vertical network, the horizontal network and socialnetwork. Secondly, the total profit growth rate reflects the growth of enterprises. Thirdly,the conceptual model of the top management team characteristics and firm growth, andput forward the hypothesis of this study according to the relationship between thecharacteristics and the growth of enterprise top management team. Finally, in2012, theShanghai and Shenzhen A shares machinery industry listing Corporation data as the studysample, using regression analysis method, empirical studies on the relationship betweentop management team characteristics and firm growth, verify the correctness of theassumptions, and draw the corresponding conclusion. The empirical results show that: the average age, average level of education andbusiness growth are positively related; average tenure and firm growth is not relevant;heterogeneity, horizontal network and business growth are positively related; internalnetwork density, the relationship between social networks and the growth of enterprisesis not significant; the longitudinal relationship between network and enterprise growth anegative correlation. According to the empirical results, come to the conclusion of thestudy and the aspects needed to be further researched. To improve China’s machineryindustry and listing Corporation executive team suggestions, provide the basis for theallocation of human resources executive team of China’s listing Corporation, and thenimprove the quality and efficiency of the management team.