Study Of Impact Of Vocational Heterogeneity Of Broad's Directors To Technological Innovation Performance

The technological innovation performance of an enterprise is the source of the competitiveness of an enterprise.In.the face of fiercer competition,only those enterprises that innovate continuously can stay in the forefront of the industry,gain more market share and generate higher income.Therefore,the technological innovation performance of an enterprise is a hot topic for scholars to study.Technological innovation activities are long-term,high-risk and complex activities.As the decision-maker of the major investment activities,directors' professional background heterogeneity will affect the decision-making of technological innovation of enterprises,and ultimately affect the performance of enterprise's technological innovation.This paper enriches and expands the research on the technological innovation performance of enterprises by the demonstration of the relationship among heterogeneity of the professional background of directors,organizational slack and enterprise technological innovation.The past research mostly base on upper echelons theory to study the impact of board scale,the proportion of independent directors and professional background to technological innovation performance,neglect the impact of resource to their relationship.This paper uses a dual theories perspective,upper echelons theory and resource-based theory to research.This paper demonstrates the influence of the heterogeneity of directors' professional background on the performance of technological innovation from the perspectives of decision-maker and organizational resources,expands the applicability of the resource-based theory in the research of enterprise technology innovation performance and gives a new perspective on the research of enterprise technological innovation performance.Based on the sample of A-share listed high-tech enterprises in 2009-2015,this paper uses multivariate linear regression model to study the relationship between the heterogeneity of directors' professional background and technological innovation performance and further explores influence of financial slack and human resource slack on its relationship.This paper found that:(1)There is a significant positive correlation between the heterogeneity of directors' professional background and the technological innovation performance,that is,the heterogeneity of the directors' professional background is stronger and the higher the technological innovation performance of the enterprise is;(2)The financial slack play a significant positive regulatory role,that is,the higher the financial slack of the enterprise,the stronger the contribution of the heterogeneity of the professional background of directors to the technological innovation performance;(3)The human resources slack did not play a regulatory role,there are three possible reasons for this conclusion:first,the liquidity of human resources slack is worse than the financial slack and can not be arbitrarily used;the measure is the total number of employees human resource slack rather than technical human resources slack;enterprises have more members are mostly labor-intensive enterprises,human resource slack may not have a positive regulatory role to directors' decision.The conclusion of this paper confirms the positive influence of the background heterogeneity of directors on the technological innovation performance and finds that the more financial redundant resources of the enterprise,the more it will promote the heterogeneity of directors,professional background to the technological innovation performance.The realistic significance of this paper lies in that the shareholders of the enterprise should select the directors reasonably and enhance the heterogeneity of the professional background of the directors to achieve higher technological innovation performance and make rational use of the financial redundant resources of the enterprises.