Research On The Impact Of Executive Team Heterogeneity On Enterprise Innovation Performance

Innovation is the core driving force for te development of an enterprise and the strategic support for an enterprise to obtain and maintain a competitive advantage.And sustainable innovation capability is a necessary condition for modern enterprises to survive and develop in the increasingly fierce competition environment.In recent years,China has attached great importance to the construction of enterprise innovation capabilities,and has successively issued a series of related documents that require strengthening the status of enterprise innovation.However,China still lacks core technology with independent intellectual property rights in some key areas,and enterprises have not become the main body of innovation decision-making,scientific research organization and achievements transformation and application.Therefore,how to effectively enhance the innovation capability of enterprises,cultivate and strengthen a group of innovative leading companies with international competitiveness,and promote the high-quality development of China's manufacturing industry has always been a key issue of concern for academia and the business community.This research aims to improve the innovation performance of manufacturing companies,and takes the heterogeneity of executive teams as the starting point.It systematically sorts out related literature,combines high-tier team theory,social categorization theory,group decision theory and enterprise life cycle theory,and selects A The data of stock manufacturing listed companies in 2009-2018 is a research sample,empirically examining the heterogeneity of executive team(age heterogeneity,term heterogeneity,education level heterogeneity and functional background heterogeneity)on corporate innovation performance The impact of corporate ownership and corporate life cycle on the relationship between executive team heterogeneity and corporate innovation performance is explored.The main conclusions are as follows:(1)The heterogeneity of senior management team will have a significant impact on corporate innovation performance.Specifically,age heterogeneity has a significant negative impact on corporate innovation performance;term heterogeneity,heterogeneity of education level and Functional background heterogeneity has a significant positive impact on corporate innovation performance.(2)In the regression of enterprise ownership grouping,it is found that compared with state-owned enterprises,the influence of heterogeneity of senior management team on enterprise innovation performance is more significant in non-state-owned enterprises.(3)In the group regression of the enterprise life cycle,it is found that under different life cycle stages of the company,the age heterogeneity of the executive team has a negative impact on the company's innovation performance.As the life cycle changes,the age of the executive team varies.The negative impact of qualitative on corporate innovation performance is on the rise.In the stage of growth and maturity of the enterprise,the heterogeneity of the tenure of the executive team has a positive effect on the innovation performance of the enterprise;in the stage of the recession period,the heterogeneity of the tenure of the executive team has no significant effect on the innovation performance of the enterprise With the alternation of life cycle,the influence of the heterogeneity of the tenure of the executive team on the innovation performance of the enterprise shows an "inverted U" trend.At different stages of the enterprise's life cycle,the heterogeneity of the education level of the senior management team has no significant effect on the innovation performance of the enterprise,and there is no significant change trend.At different stages of an enterprise's life cycle,the heterogeneity of the executive team's functional background has a significant positive impact on the company's innovation performance.With the alternation of the life cycle,the heterogeneity of the executive team's functional background has a positive impact on the enterprise's innovation performance It shows a downward trend.(4)In further research,it was found that under different stages of the enterprise's life cycle,the interaction items between the heterogeneous characteristics of the executive team have complementary effects on the innovation performance of the enterprise.In the growth stage of the enterprise,the heterogeneity of the tenure of the executive team and the heterogeneity of the functional background of the executive team have a complementary effect on the company's innovation performance;in the maturity stage of the enterprise,the heterogeneity of the tenure of the executive team and the heterogeneity of the education level There is a complementary effect between the heterogeneity of sexuality and functional background;in the stage of corporate recession,the heterogeneity of the education level of the executive team and the heterogeneity of the functional background of the executive team have a complementary effect on the impact of the company's innovation performance.This study theoretically enriches the relevant research on corporate innovation performance,and expands the research perspectives of executive team heterogeneity and corporate innovation performance;in practice,the executive team heterogeneity is used as the entry point for different enterprise ownership and Listed manufacturing companies in different life cycle stages optimize the executive team structure,improve the executive mix mechanism,and improve the company's innovation performance to provide a certain reference value,and then promote the implementation of corporate innovation strategies.