Research On The Impacts Of Vertical Dyad Differences Of Top Management Team On Innovation Performance Of Entrepreneurial Enterprises

Entrepreneurial enterprises are important ingredient of economy in China, which have positive and significant effects on promoting the economic development and industrial transaction, and have significant power to promote Chinese independent innovation and emerging industries. With the fierce competition, through boosting the innovation performance, entrepreneurial enterprises could set the strong foundation for their sustainable development. During the effort for constructing the innovative country in China, how to increase the innovation performance of the entrepreneurial enterprises has attracted the attentions of the scholars and business circles. It is not only because it could generate the impacts on the sustainable development, but also it has important role on the industrial optimization and upgrades. In the course of promoting the innovative development for the entrepreneurial enterprises, it is very important for top management team to make the proper decisions. Therefore, it is essential to investigate the impacts of the internal composition on the innovation performance of the entrepreneurial enterprises from the perspective of top management team, which is of great theoretical and implicational significance for promoting the sustainable innovation development of entrepreneurial enterprisesFirstly, this paper systematically reviewed the research related to the upper echelons theory, and identified the research object, research contests and research method, and put forward the research hypothesis and constructed the conceptual model. Secondly, in order to examine the above proposed hypothesis, through establishing the econometrical model including the dependent variable denoted by invention patents granted and independent variable denoted by vertical dyad differences of the top management team, this paper empirically examined the impacts of vertical dyad differences of the top management team on innovation performance of the entrepreneurial enterprises based on the sample data of the entrepreneurial enterprises, using negative binomial regression. Thirdly, according to the industrial environment and ownership, this paper divided the sample into several parts, andexplored whether there is significant difference for the above impacts between the different industrial environment and ownership. At last, this paper put forward some explanations for the empirical results, and managerial implications and policy suggestions.The empirical results show that the gender vertical dyad differences, the tenure vertical dyad differences, degree vertical dyad differences and experience vertical dyad differences have significant and positive impacts on the innovation performance of the entrepreneurial enterprises, except for the age vertical dyad differences. In addition, the effects in the dynamic industrial environment and the nature of state-owned enterprises are larger than that in the stable industrial environment and the nature of non-state-owned enterprise. Finally, according to the research results,the research conclusions in this paper could provide some valuable theoretical references and intelligent supports for the entrepreneurial enterprises in boosting their innovation performance and properly constructing the top management teams.