| Facing rapidly changing market environment,it receives great attention by scholars and entrepreneurs that the key role the top management team of enterprises playing in the process of strategic decision environmental adaptation.Hambrick and Mason put forward Upper Echelons Perspective for the first time in 1984,and they considered members of top management team would base on their personal values or cognitive mode to estimate and analyze environmental information they search,in order to form a perception of reality and make the final strategic choice,then consequently produce superior performance and profit.With focusing on this research topic,scholars of top management team further the research of the relationship among the top management team,strategic decision-making and corporate performance,which constantly enrich and expand the research framework and model of top management team.Then these studies also makes the top team theory gradually become the most important leadership theory in the field of strategic management theory.With the research content and method developing,scholars conduct the thorough research about attributes and team processes of top management team.Although the framework and empirical method of top management team theory become continuously integral,but there still exist some deficiencies:most previous empirical research replace team members’ cognitive elements with demographic features.Besides,in the practice of the enterprise,the environment awareness and understanding of team members directly influence and determine strategic decision-making,rather than their population characteristics.In addition,existing quantitative research neglect the influence of dynamic resources configuration guided by executives’ environmental cognitive guidance,which is the critical steps when enterprises carry out strategic adjustment program.Therefore,through qualitative and quantitative empirical method,we discuss and analyze the relationship among top management team environment cognition,resource allocation and firm performance.It not only complete the existing the theoretical and empirical research of top management team,but also there is important practical significance of promoting the integration of top management team theory and resource-based view.On the basis of previous studies,this paper builds a three variables linear correlation model,which include top management team environment cognition-resources allocation-firm performance.We select China’s public companies as research object,and obtain penal data which contains 284 samples and 852 observation values.The empirical results show that the environmental cognition of top management team have positive linear effect on resources allocation,and resources allocation has a mediation effect to the relationship between top management team environment cognition and firm performance.Related analysis and conclusion have a positive significance to reveal the mechanism of top management team cognitive environment and resource allocation,make sure executives’ decision-making mechanism and improve the quality of decision-making. |
