The Relationship Among TMT Heterogeneity,TMT Faultlines And Innovation Strategy

As the Chinese economy enters a new normal,the external environment of domestic enterprises is becoming more and more complex,meanwhile,the competition between enterprises is becoming more and more intense.In this background,the importance of innovation becomes more and more prominent,domestic and foreign scholars launched a wide range of research.Their results show that the level of innovation activity of enterprises is influenced by many factors,and the top management team plays an important role in this process.In China's rapid development today,the community is not the lack of talent,high-quality enterprises in the outstanding managers,but more and more enterprises are lacking of the combination of these talents to achieve 1 plus 1 is greater than 2 results.Therefore,in the process of enterprise's innovation activities,the core question that researchers pay close attention to is how to construct the appropriate top management team,and exert each other's advantages to improve the innovation level of the enterprise.Zhou(2015)puts that the characteristics of top management team differences will lead to differences in team collaboration and communication,affecting team behavior and even the company's innovative strategy.On the other hand,faultlines will cause the top management team to split into many homogeneous sub-teams,and the interaction between the sub-teams will undoubtedly affect the top management team overall behavior and the level of innovation activities of the company.In this paper,we explored the relationship between top management team heterogeneity,faultlines and innovation strategies,and based on the attention-based view,creatively proposed the internal mechanisms that influence this relationship.In this study,we mainly study the issues:the relationship between the top management team heterogeneity,functional background heterogeneity,heterogeneity of professional experience,top management team faultines and company's innovation strategy.And how the moderating effects of top management team attention influence these relationship.Based on the panel data of listed companies in Shanghai and Shenzhen from 2011 to 2015,using Stata 12.0 to analyze the tenure heterogeneity,functional background heterogeneity,professional experience heterogeneity,top management team faultlines and innovation strategy and examining the role of the top management team attention.The results show that the tenure heterogeneity,the functional background heterogeneity and the heterogeneity of professional experience have significant positive effects on the innovation strategy,and the top management team faultlines has a significant negative impact on the innovation strategy.And top management team's attention moderates these relationship except for professional experience.The significance of this paper lies in enriching and supplementing the relevant theories of TMT features and attention,and provides important theoretical and practical guidance on how to improve the level of innovation activities and promote the implementation of innovation strategy.