A Research On The Relationship Between TMT Power Distribution,ownership Structure And Corporate Performance

As global enterprises step into the Internet era,the global market economy gradually turns to the Internet economy.As the top person in charge of strategic choice and implementation of the enterprise,top management team members play a decisive role in enterprise performance and organizational development.However,in the actual management process,due to individual differences,the members of the top management team differ in their strategic opinions,business judgments,management concepts,etc.,as well as the ownership in their hands,which affects the organizational performance of the enterprise,and even the survival of the enterprise.Based on the above practical problems,this paper takes the Upper Echelons Theory support to study the influence of the distribution of executive team power under the regulation of shareholding structure on enterprise performance.This paper USES the data of the top management of the computer industry and the communications equipment manufacturing industry in “A”stock market from 2010 to 2015,conducts empirical analysis by establishing the measurement model,and finally draws the research conclusion:(1)the imbalance degree of the distribution of top management team power is positively correlated with enterprise performance;(2)the degree to which the power of the top management team is concentrated in the highest power is positively correlated with corporate performance;(3)the concentration degree of corporate equity positively regulates the positive correlation between the imbalance degree of power distribution among senior executives and corporate performance.(4)the concentration degree of corporate equity positively regulates the relationship between the degree of the concentration of the executive team's power in the highest power and the enterprise performance.In this paper,the results expand the top management team,equity structure and corporate performance of related theory,the rich experience on the distribution and business performance of the power of the top management team members study the influence of external and objective factors,is helpful to further improve the efficiency of top management team,scientific and reasonable optimizing equity structure.