Research On The Impact Of Executive Individual And Team Characteristics On The Innovation Of Small And Medium Sized Board Enterprises

Many scholars at home and abroad have found that there is a certain relationship between individual and team characteristics of executives and corporate innovation.The existing research in China mainly focuses on the main board listed companies,and the research articles on the influence of senior executives and team characteristics on the innovation of small and medium-sized listed companies are rare,so it is necessary to conduct research on them.This paper focuses on small and medium-sized listed companies,selects samples and establishes a regression model to study the relationship between individual and team characteristics of executives and innovation of small and medium-sized listed companies.This paper selects 776 SME board listed companies in China from 2006 to2015 as a sample,and divides the executive characteristics into two categories:personal characteristics indicators and team characteristics indicators.Personal characteristics indicators from executive personal basis characteristics,executive personal background characteristics From the perspective of each angle,each angle corresponds to different variables;the characteristics of the executive team include the functional background heterogeneity of the executives,the heterogeneity of the education level,and the heterogeneity of the salary.This paper establishes a regression model from the personal characteristics and team characteristics of executives,and empirically analyzes the factors affecting the innovation of small and medium-sized listed companies.It is found that in terms of individual basic characteristics of executives,the older the executives,the more unfavorable the company's innovation,the degree of education and the term of office are positively related to the company's innovation,and the shareholding ratio of executives has a positive impact on corporate innovation;In terms of personal background characteristics of executives,the overseas background and academic background of executives have had a positive impact on company innovation.The political background of executives is also conducive to enterprise innovation.In terms of executive team characteristics,the higher the functional background of executives,the more the company Innovative,high levels of executive education heterogeneity and pay heterogeneity have a negative impact on company innovation.At the same time,this paper also divides the selected samples into state-owned and non-state-owned enterprises,and compares them from different angles,and alsoobtains valuable conclusions.And after the empirical study,the paper tests the robustness of the regression results and verifies the validity and reliability of the regression.Finally,this paper proposes some targeted policy recommendations: if companies want to have high innovation capabilities,they need to reduce the average age of executives,improve the education level of executives,and introduce high backgrounds with rich background and academic background.In addition,the proportion of executives to increase shares,at the same time,should increase the heterogeneity of functional background.Similarly,this paper also presents the shortcomings of the research.