A Study On The Effect Of TMT Characteristics On R&D Investment Under The Situation Of Enterprise Internationalization

China's 2016 National statistical bulletin on investment in science and technology demonstrates that during the year 2016,China's R&D input accounted for 2.11% GDP,exceeding the average R&D input of EU countries for the first time,and the result was closely knitted to Chinese government's encouragement.Under the historical background,China's SMEs with high tech and rapid growth,have to continuously improve and innovate to maintain their competitiveness in case of falling behind the pace of China's development.The input of R&D and the innovation strategy of a certain enterprise are always determined by the top management team.However the decision making of the team can be affected my multiple factors,such as objective factors and subjective factors including their cognitive level and their values.A bunch of researches on TMT characteristics emerged after researches based on the Upper Echelons Perspective Theory utilized characteristics to study the influence of TMT on enterprises.However there also exist some differences between the results of those researches.Enterprises management happens in a certain environment.Currently,enterprise internationalism has become a common and important organization scenario,under which there was no relevant research focused on the relationship between TMT characteristics and enterprise R&D input.Based on the analysis above and the theories of Upper Echelons Perspective and Internationalism,we added a moderating variable of enterprise internationalism and used the sample of 198 high-tech enterprises listed on the SOE board to study the relationship between TMT characteristics and enterprise innovation.The TMT demographic characteristics include TMT scale,the female proportion of TMT,average age,tenure and education level.Results revealed that: the TMT scale and the average education level positively affect enterprise R&D input;the female proportion of TMT negatively affected enterprise R&D input;the internationalism significantly regulated the relationship between female proportion,average tenure,average education level and enterprise R&D input.