Empirical Research For The Impact Of TMT Heterogeneity On The Performance Of Technological Entrepreneurship

With the concept "popular entrepreneurship and innovation" proposed, innovation and entrepreneurship has become an upsurge. Technological entrepreneurship is one of the ways to transform technological innovation.Therefore, it is a common concern of the state, the government and the enterprise to develop the enterprise's healthy development. However,the top management team is the core of enterprise decision-making, the rationality of its structure is related that the technology start-ups can create a good performance.As a result,the influence mechanism of the top management team heterogeneity on the performance of technology start-ups has important guiding significance for the development of technology start-ups.This study mainly analyses the relationship of TMT heterogeneity and value creation of business model and performance,and reveals mechanism of the TMT heterogeneity on the performance of technology start-ups. Firstly, in the foundation of combing the present situation of the domestic and foreign research, this study defines TMT heterogeneity, business model, value creation, technology entrepreneurship performance related concepts, and then divides the correlation dimension. Secondly, through the case grounded analysis, it analyses the relationship between the top management team heterogeneity, value creation and technology entrepreneurial performance,puts forward the initial proposition,and builds a theoretical model. And on the basis of the theory,it puts forward the hypothesis.Thirdly it measures the related variables TMT heterogeneity, value create and entrepreneurial performance technology, chooses the GEM listed companies as the research sample, and carry on the positive research by using multiple linear regression. Finally,according to the research results, this study puts forward the corresponding management implications and prospects the future research.The empirical results show that TMT age heterogeneity and term heterogeneity have a significant positive effect on value creation and performance. However, the function experience heterogeneity and education level heterogeneity have a significant negative effect on value creation and performance. Value creation of business model has a significant positive effect on the performance of entrepreneurial enterprises. And value creation plays a partial intermediary role in the relationship of TMT's age, tenure, function experience, education level heterogeneity and technology entrepreneurial performance.