Research On The Relationship Between Entrepreneurial Team Knowledge Heterogeneity And Technological Innovation Efficiency

Faced with increasingly fiercely competitive market environment and higher requirements of economic development,China's entrepreneurial enterprises are facing more opportunities and challenges.Based on the background of the era and the requirements' of social and economic development on "mass innovation and people's entrepreneurship," more and more entrepreneurs have joined the rolling tide of this venture who have contributed in delibly to solving the social employment problem.At the same time,technological innovation which is the core engine of economic development,has become an important strategy for the planning of various economic entities in the future.The improvement of the technological innovation capability of entrepreneurial enterprises is equally important.In the fierce market competition,these entrepreneurial enterprises must implement the technological innovation ideology from the beginning to the end.The difference in thinking styles and knowledge structures will ultimately create the team's new ideas for technological innovation,which will make it possible for companies to improve their technological innovation capabilities and profitability.This paper starts from the technological innovation efficiency of entrepreneurial enterprises under entrepreneurial teams and examines the relationship between the three dimensions of heterogeneity of knowledge and the efficiency of technological innovation:the heterogeneity of the level of team education,the heterogeneity of educational specialty,and the heterogeneity of functional background.Based on the empirical findings,it is found that the heterogeneity of education level,the heterogeneity of educational specialty,and the heterogeneity of functional background all positively influence the efficiency of technological innovation in different degrees.When examining the modulating effect of incentive factors on the two,it was found that the effect of equity incentives of team members varied due to the heterogeneity dimension,which produced different regulatory effects.Equity incentives have a negative regulatory effect on the heterogeneity of team members' educational level,and have a positive adjustment effect on the heterogeneity of members' educational profession.The role of compensation adjustment lies in the heterogeneity of the background of the members of the startup team.The higher the level of compensation of the team members,the more positive the relationship between the entrepreneurial team and the efficiency of technological innovation can be.This article selects companies listed on the Growth Enterprise Market as a sample.On the one hand,it considers the reformativeness of the operation of the listed company and the good growth of the company.On the other hand,the listed company of the ChiNext Board has significant entrepreneurial characteristics whose core executive team can be regarded as the research object.Therefore,this paper studies the relationship between knowledge heterogeneity and technological innovation efficiency of entrepreneurial teams which provides practical inspiration for future technological innovation activities of entrepreneurial enterprises as well as small and medium-sized enterprises and the entrepreneurial teams.