Research on the Influence of Executive Characteristics on the Innovation Capability of Listed Companies
DOI:
https://doi.org/10.54097/83yqsg97Keywords:
Characteristics of senior management, enterprise innovation ability, top management team.Abstract
Innovation is an important means to achieve national core competitiveness and sustainable development, and it is also a powerful driving force for corporate transformation and upgrading. As important decision-makers and managers of enterprises, the characteristics of top executives largely determine the direction and strategy of the company's development. This article selects data from the executive teams of A-share listed companies in China from 2015 to 2021, establishes an empirical research model, and comprehensively analyzes the impact of executive characteristics on the innovation ability of listed companies from two dimensions: homogeneity and heterogeneity of the executive team. The empirical results show that in terms of homogeneity, executives with higher average education level in TMT, higher proportion of executives with R&D and design backgrounds, and higher proportion of executives with overseas backgrounds are more conducive to corporate innovation. In terms of heterogeneity, the higher the level of heterogeneity in age, education level, tenure, and professional background of TMT members, the more it can promote the improvement of corporate innovation ability.
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