Research On The Influence Of CEO's Career Background On Technological Innovation Of Start-up Enterprises

In 2014,Prime Minister Li Keqiang proposed the "mass entrepreneurship and innovation" at the Davos Summer Forum.Start-up companies have become the backbone of the development of China's market economy.The position of start-up companies in the entire capital market is self-evident.The entrepreneurial enterprise builds competitive advantage with technological innovation.The existing researches focus on the impact of the technological innovation of the venture enterprise on its performance.Does origins of CEOs affect the technological innovation of start-up enterprises?However,existing researches ignore the influence of the CEOs' career background.This article focuses on the discussion of the CEO's occupational background affecting the technological innovation of entrepreneurial enterprises.It divides the occupational background into "hot cognitive career background" and "cold cognitive career background",based on Upper Echelons Theory,Managerial Cognition Theory and Stakeholder Theory.Through domestic and foreign literature reviews,normative researches,and empirical analysis,the relationship between the CEO's professional background and the entrepreneurial company's technological innovation is deeply analyzed.The CEO's professional background is also discussed to find or divide boundary conditions for the influence and influence of technological innovation in enterprises.The research conclusions of this paper have practical significance for the relationship between CEO occupational background and technological innovation of entrepreneurial enterprises,and the role of institutional investors in the strategic management decision-making of enterprises.This paper draws conclusions based on the data of 482 listed companies on the Growth Enterprise Market in 2015:(1)The CEO's hot career background has a positive impact on technological innovation in start-ups;(2)The CEO's cool career background has a negative impact on technological innovation in start-ups;(3)The proportion of institutional holdings regulates the relationship between the CEO's hot cognitive career background and the technological innovation of the start-ups,but it can not regulate the relationship between cool cognitive career background and technological innovation of the start-ups;(4)The combination of ownership and management regulates the relationship between the CEO's professional background and the technological innovation of start-ups.This research provides the significant reference for the adjustment of ownership structure of start-up enterprises and the optimization of the senior management team,as well as a new perspective for research of the technological innovation of start-up enterprises.