The Impact Of Board Heterogeneity Of Private Enterprises On Innovation Input

As a major form of enterprise organization,private enterprises have become an important part of China's national economy and the most active economic growth point in China's national economy.The composition of the board of directors is an important field of the board of directors.The diversity of the background and experience of the directors determines the heterogeneity of the board of directors.The decision-making choice of enterprises often takes into account the influence of external environment.As an external macro-environment,the product market competition environment plays an important role in the internal decision-making of enterprises.The current research on innovation investment in private enterprises shows that both internal and external factors will have an impact on enterprise innovation decision-making.Although there are many documents exploring the heterogeneity of board of directors on enterprise strategic choice,they are not perfect,especially for the choice of situational factors,and the cross-level effect of industry competition has not been included in the model.In the middle.Based on previous hypotheses,this paper proposes that the heterogeneity of the board of directors' functions,tenure,gender,age and educational background will have an impact on the choice of the board of directors' investment in innovation,and the degree of industry competition as an industry-level factor will have an impact on the heterogeneity of the board of directors and the investment in Enterprise innovation.The relationship plays a regulatory role.This paper uses HLM cross-level regulation test method to test the relevant data of listed private enterprises from 2014 to 2016.The conclusion proves that the heterogeneity of the board of directors of private enterprises has a significant impact on enterprise innovation input,and the different types of heterogeneity have different impact on innovation input.In addition,industry competition as an important external factor has a significant moderating effect on the relationship between board heterogeneity and innovation input.This paper has important theoretical and practical significance:theoretically speaking,the breakthrough point of this paper is relatively new,from the perspective of board structure to board behavior rather than from the perspective of structure to performance to enrich the relevant research of the board of directors;introducing industry variables,the enterprise-level influencing factors and industry-level influencing factors In practice,the results of the study on the heterogeneity of the board of directors suggest that enterprises should pay attention to the diversification of the construction methods in the process of the construction of the board of directors,and ensure the diversification of the internal functions,educational background,tenure and age of the board of directors.