The Characteristics Of Top Management Team And Their Relations With Enterprise Performance:Comparisons Between Strategic Emerging Industries And Traditional Industries

In order to keep up with the profound adjustment in global industrial structure, China has officially established and implemented the strategic plan of cultivating and developing strategic emerging industries.And only by adjusting to this national industrial policy and grasping the major strategic opportunity can modern enterprises get new growth elements and realize sustainable development. From the micro perspective, enterprises are still the main body of cultivating and developing strategic emerging industries, and the key to strategic decision-making of an enterprise lies in the capacity and quality of its top management team.Therefore, while paying close attention to the top-level design of strategic emerging industries, we must also conduct researches on the characteristics of top management team and their relations with enterprise performance.We have selected traditional industries as the control group for the purpose of better studying the characteristics of top management team and their relations with enterprise performance in strategic emerging industries. This paper selected a total of416enterprises and3031top managers as the research samples from listed companies of Shanghai and Shenzhen in strategic emerging industries and traditional industries. Firstly, the paper conducted a theoretical analysis of the characteristics of top management team and their basic capabilities and qualities. Then, from the point of industry characteristics, this study analyzed the capabilities and demographic characteristics of the top management team in strategic emerging industries, and put forward concerning hypothesis. Thirdly, by applying entropy method, cluster analysis and multiple regression analysis, this paper conducted an empirical study of the characteristics of top management team and their relations with enterprise performance. Empirical research has drawn two main conclusions:First, there is a significant difference in the characteristics of top management team between strategic emerging industries and traditional industries and a huge gap between industrial characteristics and innovation capacity, resilience capacity as well as strategic decision-making ability. Second, the characteristics of top management team have different degrees of impact on enterprise performance in different industries. Last but not least, this paper proposed concerning polcies and recommendations. And conclusions reached by empirical research in this paper provide references for reasonable allocation of top management team in strategic emerging industries and traditional industries. This paper concludes17figures,30tables and117references.