| With the rapid development of economic globalization in the world,China’s economic development steps into the "new normal" phase,enterprises are facing a more intense competition environment,Only constant innovation can continue to develop.SME Board and GEM listed companies mostly belong to high-tech enterprises or high growth enterprises,the market environment facing higher uncertainty,enterprise innovation is more important for them.As the core of the TMT,CEO plays a key role in the formulation and implementation of strategic decisions.The Upper Echelons Theory suggests that CEO’s different career backgrounds reflect their different cognition,values and risk preferences.This paper is based on the concept of CEO career varity defined by Crossland r.Crossland(2014)argue that "CEO career varity" reflects its personal attributes:(1)one ’s ingrained dispositional preference for change and experimentation,and(2)one’s accumulated cognitive breadth.enterprise innovation are risky and complex,which require CEO with high risk preference and good management capacity,so this paper analyzes the impact of CEO career varity on enterprise innovation.Based on the upper echelon theory and social capital theory,the paper reviewed the relevant research literature at home and abroad,and analyzed the measurement of relevant variables,then build the research model:the relationship between CEO career varity and enterprise innovation,and the effects of environmental dynamic and ownership concentration on the main effect.This paper selects 559 listed companies from SME Board and GEM from 2011 to 2015 as the research samples.The research results of this paper are as follow:Firstly,CEO career varity is positively related to enterprise innovation behavior.Secondly,when looking at the moderating effect of environmental dynamic,it is found that the environmental dynamic of the enterprise becomes higher,the positive relationship between the CEO career varity and the enterprise innovation is more significant.Thirdly,taking moderating effect of ownership concentration into account,When the ownership concentration becomes higher,CEO career varity and enterprise innovation behavior will reduce significantly.Based on CEO professional background,this paper discusses the relationship between CEO career varity and enterprise innovation which enriched innovation theory and the upper echelon theory.Finally,hope the study of this paper can provide some suggestions for the construction of TMT and inheritance of Chinese enterprises. |
