A Study On Continuous Growth Of Private Enterprises From The Perspective Of TMT's Human Capital And Retired Founder' Behaviour

Zhejiang is a large province of private economy,which is confronted with opportunities and challenges of transformation and upgrading in the “New Normal”economy.As the core of enterprise management team,TMT is an impetus to maintain and promote enterprise growth and to a great extent determines enterprise decision-making ability,adaptability and management ability.Due to the understanding of enterprise and accumulative experience,retired founders still have great control and effect on enterprise growth,which cannot be neglected during the research of enterprise growth.Therefore,using relative theories of TMT and enterprise growth,this thesis establishes a theoretical model to study private enterprise growth mechanism,taking retired founders' leadership behavior as a moderator variable and TMT human capital as an analysis point.Through enterprise interviews and analysis of 204 questionnaires,this thesis verifies the model with statistical analysis software SPSS and Amos and draws three conclusions: First,TMT demographic characteristic has a certain effect on strategic decision-making and enterprise growth,while team heterogeneity has greater effect than the characteristic mean.Second,TMT capability has a positive effect on strategic decision-making and enterprise growth.Besides,strategic decision-making plays some intermediary role.Third,retired founders' leadership behavior is a noticeable factor for TMT capability building,strategic decision-making and enterprise growth.Furthermore,their transformational leadership behavior has a positive effect on strategic decision-making and enterprise performance.