Research On The Correlation Between Technological Diversification And Innovation Performance

"Made in China 2025" planning marks the transformation and upgrading of the manufacturing industry has become the inevitable trend of China's economic development.In order to achieve the goal of constructing China's manufacturing power,we need to continuously enhance the core competitiveness of manufacturing enterprises,and to consolidate its dominant position in the market.At knowledge economy age,technology has become the core factor of economic growth,we must focus on the technological innovation and development strategy research of the manufacturing enterprises.Top management team is the main body of enterprise decision-making,its cognitive ability and values directly affect its ability to make the right strategic choice for enterprises,therefore,we should also focus on exploring what kind of executive top management team structure can play the maximum efficiency and promote enterprise innovation and development.First of all,this paper combed the related research on technological diversification,performance of the enterprises innovation and top management team heterogeneity.Secondly,based on the analysis of resource-based theory,upper echelon theory,social norms theory and information decision theory,this paper put forward the hypothesis of the inverted U-shaped relationship between technological diversification and innovation performance from the two dimensions of bread diversification and deep diversification,and the positive effect of the vertical dyads heterogeneity of top management team in age,education,tenure and professional on regulating the correlation between technological diversification and innovation performance.And then constructing the theoretical model and index system.At last,based on the data of manufacturing enterprises on GEM from 2011 to 2015 as samples,this paper mainly adopt descriptive statistics,correlation analysis,collinearity diagnosis and multivariate regression analysis to test the relationship among the three variables.From the empirical results,it is found that technological breadth based on non-core technology has an inversed U relationship on firm innovation performance,and technological depth based on core technology is positively correlated with innovation performance.The vertical difference between the chairman and the executive team in age,education,tenure and professional experience can significantly enhance the inverted U relationship between technological breadth and innovation performance,however,the regulating on the positive relationship between technological depth and innovation performance is not all established.According to the results of this research,this paper presents some relative suggestions for the development of manufacturing enterprises in our country : In the process of implementation of technological diversification strategy,the enterprises should not only dig deep into the core technology field,but also moderately extend to other technology fields,which makes the two technological development modes complement each other and work together to promote the enterprise technology innovation efficiency.In terms of top management team construction,there is a need to constantly optimize the structure of TMT.We should pay more attention on maintaining a reasonable structure of age,educational background,tenure and professional experience,to make the right judgments on the choice of technological diversification strategy for promoting the innovation performance of enterprises.