The Relationship Between Chairman Of The Board, General Manager’s Tenure Heterogeneity, Strategic Change And Firm Performance

In the era of transitional economy and post- financial-crisis, the problem of C hinese enterprises’ top management team and strategic match appears gradually, many enterprises whose achievenment are on a downward trend show us a story of TMT, especially C hairman of the board and general manager, and enterprise strategy’s dynamic matching to corporate performance. the characteristics of C hinese quoted companies decide that CEO is the key element to the development strategy and core competence of them. C hairma n of the board and general manager have a mission of making and carrying out enterprise strategy, the fit between them will has an impact on enterprises’ performance and their long-term survival and development. in consideration of right construction will affect the tenure heterogeneity of CEO, strategic variation and TMT’s effect on implement of strategic variation, this thesis regards right and tenure heterogeneity as regulated variable, and proves the effect of right to strategic variation and TMT’s tenure heterogeneity to strategic variation.This thesis is based on the upper echelons theory, explores the relationship between Chairman of the board, general manager’s tenure heterogeneity and strategic variation, the change of corporate performance, to build up a research model. The author chose 201 enterprises with the characteristics of position abruption of Chairman of the board and general manager whose corporate performance is lower than the average performance of the trades for serial three years from 2009 to 2011, analyzing the data with SPSS20.0 to prove the hypothesis, the result shows that C hairman of the board and general manager of corporate performance slide enterprises has an obvious negative effect on strategic variation during their tenure heterogeneity. Strategic variation is a medium to the tenure heterogeneity and corporate performance, the tenure heterogeneity of TMT has a negative adjustment to strategic variation and corporate performance, the difference in right between Chairman of the board and general manager doesn’t moderate the relationship between tenure heterogeneity and strategic variation.Strategic change will be further subdivided into strategic variation which represents the enterprise itself and strategic deviation whose strategy deviated from the average level to the same trades, the thesis proves tenure heterogeneity has an impact on strategic variation from static and dynamic aspects. The research provides a new vision for the appointment and removal of C hairman of the board and general manager in general meeting of shareholders and board of directors, it answers how to adjust senior executive tenure, which will let TMT help Chairman of the board and general manager to make and carry out strategic variation, reverse the declining situation of corporate performance.