An Empirical Study On Technology Innovation,Top Management Team And Internationalization Performance Of Enterprises

With the development of the world economy, enterprises accelerate the pace of overseas development. And in the economic crisis, the competition pattern in the international market has also changed radically. Countries are actively seeking their own path of development. And, the development strategy of upgrading the manufacturing sector has become an important national development strategy. In recent years, because of the less development opportunities in the domestic market and the more potential opportunities in the international market, the more open market environment and the lower threshold to enter the international market, more companies choose to go abroad for overseas development. When faced with more complex international environment and stronger competitors, enterprises need to enhance the ability to achieve comprehensive development. In this regard, the government proposed innovation-driven development strategy, emphasized that innovation is the core factor of the current development, and actively creating conditions for innovation and providing support. In addition to these, the government pointed out that the industry and enterprises should also cooperate with international market and actively participate in scientific and technological activities to in-depth understand the technology trends, strengthen cooperation with the powers and institutions to learn the methods and relevant experience. For China, China's manufacturing industry has been in a weak position depending on low cost energy and resources in the international market. With the rising labor costs and significant environmental problems, China's manufacturing industry should end the earlier development mode and actively explore the appropriate model for China's long-term development of the manufacturing. Based on the innovation theory, this paper analyzes the role of innovation and conduct an empirical test. The result is that technological Innovation significantly promoted internationalization performance.In enterprise management process, human capital has played a significant role in addition to material capital. Different from the tangible characteristic of the physical capital, human capital shares the invisible characteristic, initiative and creativity, together with the individual differences which put forward higher requirements for enterprise human resources construction and management. Enterprise human capital participates in all process and has a direct influence on performance, from putting forward the innovation strategy, reorganizing the enterprise resources, constructing management team, implementing innovation activities, producing practical results, and supervising. Therefore, this study investigates the role of the human capital from four aspect, they are the average title, average age, average schooling, and average tenure of the executive team. And the conclusion is that executive team human capital is an adjust factor between technological innovation and international performance. Specifically, the average title plays a positive regulatory role between technological innovation and international performance. The title of the senior executives reflects the professional background and relevant experience which is good for executives to analyze corporate developments and solve problems. Therefore, when the average executives share a higher team title, the more positive effects are between technological innovation and international performance. The average age of the executive team plays a negative role between technological innovation and international performance. When executives share higher age, they have weaker ability to adapt to external changing environment and intend to take the insurance policy. So the executive team shares the greater age, the promoting effects between technological innovation and enterprise international performance is weaker. The average schooling of management team plays a negative role between technological innovation and international performance. Although education backgrounds may reflect learning ability, management needs more comprehensive capabilities. Although the team shares the higher education background, the harder they can reach a consensus. So, the higher education team has, the smaller enhancement will between the technology innovation and international performance. The average tenure of the executive team plays a negative regulatory role between enterprise technology innovation and international performance. The longer the average tenure of the executive team is, executives will be more dependent on enterprise's existing business strategy and organizational structure, tending to take more risk-averse business strategy. So the longer the average tenure is, the promoting effects between technological innovation and international performance is smaller. So, the different aspects of human capital characteristics of the executive team have different regulating actions. When enterprises operating and maximizing the role of human capital, human capital should be constructed according to their own situation and development strategy, considering factors such as title, age, education, tenure, and so on.This paper uses the China manufacturing data from 2009 to 2014, correlation analysis and regression analysis method to go on empirical test. Using R&D to measure the enterprise's technological innovation, the international business sales growth rate to measure the enterprise's international performance, the executive average title, the average age, the average schooling, the average tenure to measure the executive's human capital. The innovation of this research is that the study sample is developing countries China. And different with many scholars paying attention to corporate performance, this research discusses the impact of innovation on the international performance. Then, measuring the top management team human capital and study the regulation role, this is good for constructing human capital in the enterprise management.This study has a certain academic and practical significance which enriches the study of micro body innovation activities then verifies the regulatory role of human capital. In practice, it is concluded that technological innovation has a promoting effect on international performance through technological innovation activities. On the one hand, we can build the core competitiveness of enterprises which is different from competitors to help enterprises to establish the unique advantages. On the other hand, we can obtain the actual economic benefits through technological innovation. The study also concluded that the average title, average age, average schooling, and the average term of executives have a moderating effect on the technological innovation and international performance. Therefore, enterprises need to pay attention to the human capital construction according to the enterprise actual development situation and strategy, and comprehensive considering the title, age, education, and term of the management team in order to maximize the moderating role of manpower capital.