Research On The Influence Of TMT Heterogeneity On Enterprise Performance

Top management team(TMT)is the highest management and decision-making level in an enterprise,which plays a crucial role in the development strategy and performance of the enterprise.Diversification,as an important way for the expansion and development of enterprises,is like a "double-edged sword",with risks and opportunities in parallel.Whether it can bring expected profits to the enterprise is related to the influence of the management in the implementation and promotion of diversification strategy.When the senior management team has more diversified industry knowledge,experience and background,effective decisions on strategic plans can be made more quickly,and the promotion of diversification strategy of enterprises will undoubtedly be more smooth.To some extent,these factors will be induced by the differences in characteristics of the senior management team.Therefore,this paper starts with the enterprise diversification strategy to explore and verify the influence mechanism of TMT heterogeneity on enterprise performance.In addition,some Suggestions are put forward,such as optimizing the structure of the senior management team,constructing the conflict management mechanism and carefully selecting the diversification strategy.On the basis of multiple theories,this paper selects gem listed companies as research objects.Diversification strategy is associated with TMT heterogeneity and enterprise performance,which is used as an intermediary variable to further explore the influence of TMT heterogeneity on enterprise performance under the mediating effect of diversification strategy.The heterogeneity of executive team is further distinguished into social heterogeneity and functional heterogeneity according to its characteristics.The empirical results show that the heterogeneity of executive functions promotes the development of the enterprise to diversification,but it negatively inhibits the improvement of corporate performance.The impact of social heterogeneity on diversification strategy did not pass the significance test,but it significantly positively affected the performance to some extent.Diversification strategy plays a part in mediating the influence of heterogeneity of executive functions on performance.Based on the empirical conclusion,enterprises should pay attention to the role of heterogeneity in the decision-making behavior of senior executives,and attach importance to the impact of diversification strategy on corporate performance,so as to give full play to the strategic function effect of senior executives and ensure the maximum manifestation of team heterogeneity.