An Empirical Research On The Influence Of Board Members’ Characteristics On Enterprise Innovation Ability

In recent years,with the rapid development of China’s economy,the external competition is becoming more and more fierce.Under the background of innovation and development,the competition among enterprises is becoming more and more fierce.therefore,the promotion of innovation ability is one of the important ways to enhance the core competence of enterprises.According to the comprehensive ranking of China’s National Innovation Index,there is still huge room for the development of China’s overall innovation capability in the future.The higher echelon theory closely links the corporate strategy with the characteristics of the board of directors,and holds that as the executive team of the enterprise,the characteristics of the board of directors have a certain impact on the formulation of corporate strategy,and then affect the innovation ability of the enterprise.At present,the innovation ability of Chinese enterprises is not only valued by the state and enterprises,but also widely concerned by the academic circles.Among the existing research results,the research on the characteristics of board members is rich in static indicators such as age,gender,term of office and so on.In addition,with regard to the exploration of enterprise innovation capability,scholars mostly study from the external environment and internal environment of the enterprise,but there are few literatures on the relationship between the characteristics of board members and enterprise innovation capability.In addition,the nature of property rights of enterprises also affects the economic benefits of enterprises,state-owned enterprises and private enterprises are quite different in the direction of internal talent selection and training,resulting in obvious differences in innovation level and innovation ability.First of all,this paper combs the previous research achievements in this field.Secondly,it makes a conceptual definition of the characteristics of board members and enterprise innovation capability,and on this basis,a comprehensive analysis of academic research results,supported by principal-agent theory,high-echelon theory and resource basis theory,then put forward the relevant assumptions of this paper,using 2010-2020 A-share manufacturing companies as sample data,select the academic background,academic background and overseas background of board members as explanatory variables.The enterprise innovation ability is the explained variable,and the empirical analysis method is used to test the relevant hypotheses,and the research conclusion is drawn,that is,the board members with high educational background,rich academic background and overseas background have a significant effect in improving the innovation ability of enterprises.Finally,the conclusion,deficiency and research prospect are drawn by synthesizing the research of this paper.In addition,this paper further constructs a heterogeneous test of the influence of the characteristics of board members of enterprises with different property rights on enterprise innovation ability.the results show that there are significant differences in innovation ability between state-owned enterprises and private enterprises.in state-owned enterprises,the educational background and academic background of board members significantly promote the improvement of enterprise innovation ability,while private enterprises prefer members with rich overseas backgrounds.In order to improve the innovation ability of enterprises and achieve the goal of innovative enterprises,this paper puts forward some suggestions from three aspects:optimizing the structure of the board of directors and improving the overall quality and innovation consciousness of board members.The research results of this paper not only improve the research in this field at home and abroad,but also have important theoretical and practical value to improve the innovation ability of Chinese enterprises.