The Relationship Between Diversity Of Top Management Team And Enterprise Performance

Since the 21 st century,the implementation of national innovation-driven development strategy makes enterprises face more complex environment and more fierce market competition,which poses new challenges to managers' decision-making ability.Top management team is the core value of an enterprise.Diversity of top management team can promote the maintenance of market competitiveness and risk resistance of an enterprise,and lay a talent foundation for improving enterprise performance.This study conducts an in-depth analysis of the relationship between diversification and performance of the top management team,emphasizes the key significance of introducing research scenarios to classify diversification,and explains the inconsistency of previous research conclusions.At the same time,it pays attention to the research and development behavior of enterprises and explores the boundary conditions of the influence of the diversity of top management team on the performance.Based on social classification theory,social hierarchy theory and information processing theory,and referring to different research scenarios,this paper divides the diversity of senior management team into three categories: TMT separation diversity,TMT inequality diversity and TMT diversity.This paper establishes a moderated mediation model,introduces R&D intensity as a mediating variable to further explain the relationship between executive team diversification and performance,and discusses the moderating effect of enterprise ownership factors on mediating,so as to further explore the influencing mechanism and boundary conditions of performance improvement.This study is divided into the following three aspects: First,the influence mechanism of TMT separation diversification,TMT inequality diversification and TMT diversity on enterprise performance is discussed respectively.Secondly,this paper analyzes the process of three types of TMT diversification characteristics indirectly affecting performance through enterprise R&D intensity,and discusses the indirect mediating effect of R&D intensity on the diversification and performance of senior management team.Finally,the moderating variable of enterprise ownership nature is added to further discuss the boundary conditions of the diversification of senior management team and the influence of R&D intensity on performance level under the Chinese scenario.This paper takes 551 listed companies in Shanghai and Shenzhen as research samples in recent four years and draws the following conclusions through empirical test.First,TMT separation diversification has a negative impact on corporate performance,while TMT unequal diversification and TMT diverse diversification have a positive impact on corporate performance;Second,TMT separation diversification has a negative impact on enterprise R&D intensity,TMT unequal diversification and TMT diverse diversification have a positive impact on enterprise R&D intensity,and R&D intensity plays an intermediary role in the relationship between executive team diversification and performance,and plays a part of the intermediary role.Third,the nature of enterprise ownership moderates the indirect mediating effect of R&D intensity,but the moderating effect is not the same for different types.At the same time,clarifying the mechanism and boundary of different types of diversification on R&D and performance provides important management enlightenment for enterprises.On the one hand,the conclusion of this paper can help enterprises to build the best executive team structure configuration,can realize the management efficiency and decision quality,on the other hand,by adjusting the team diversity talent structure to guide the enterprise to develop in different directions,business leaders can under different strategic goals,adjust the executive team diversity in order to realize the transformation of enterprise development jumped and the optimization of organizational development.The innovation of this study point has three aspects.First,by introducing the scene,this paper found that different types of diversification of research and development and the performance of different mechanism of action and effect,but does not distinguish research situation can lead to effects cancel each other out.Secondly,this paper focuses on the longitudinal difference of organizational structure to supplement the deficiency of differentiation research at the organizational level.Thirdly,this paper focuses on the nature of enterprise ownership and points out that the nature of enterprises is an important factor affecting the performance of diversification and an important boundary condition for diversification.