| At present,China's economy is transforming from high-speed growth stage to high-quality development stage,and technological innovation is an important driving force for this transformation.Enterprises have gathered a large number of innovative elements and are the main role of implementing technological innovation activities.With the development of the new scientific and technological revolution,great changes have taken place in the supply,consumption and demand docking modes of the scientific and technological economy.To create new wealth,enterprises must keep up with the pulse of the new cycle of science and technology,maintain a sense of urgency and lead in technological innovation,and actively seek breakthroughs in disruptive innovation.The CEO has a fundamental responsibility for the management of the company,and the technological innovation of the company is closely related to the decision-making of the CEO.The top CEO is agile and has a keen insight that ordinary people can't match.They can make substantial adjustments to the business model as the market changes or is about to change,discover potential technological innovation opportunities,and be good at seizing time to build new markets.Based on this,the paper studies which personal characteristics of the CEO can promote the technological innovation of the enterprise,and under what circumstances,the personal characteristics of the CEO have a more significant impact on the technological innovation of the enterprise.Paper hopes that the research conclusion can provide a reference for the enterprise to select and cultivate innovative CEO.The main research contents of this paper are:(1)A theoretical analysis of the influence of CEO's personal characteristics on technological innovation.On the basis of clarifying relevant concepts and drawing on the views of classic theories and scholars,this paper analyzes the influence mechanism of CEO age,gender,education level,tenure,work background and overconfidence on technological innovation of enterprises,discusses the influence of external supervision on the relationship between the personal characteristics of CEOs and the technological innovation of enterprises,and proposes research hypotheses.(2)The influence of CEO's personal characteristics on the technological innovation of enterprises and the adjustment effect of external supervision on the relationship between the two.Based on the research of existing literatures,rationally select the measurement methods of key variables,collect and organize relevant data,construct regression models,test the research hypotheses,and verify the robustness of the test results.(3)Summarize the research conclusions,explore the main ways to cultivate innovative CEOs,and propose reasonable management suggestions for enterprises.This paper comprehensively uses Upper Echelons Theory,Technical Innovation Theory and Behavioral Decision Theory,with Chinese A-share listed firms as research objects,using the relevant data of enterprises from 2003 to 2017,from the CEO's age,gender,education level,tenure,working background and overconfidence these six aspects,analyzes the CEO's personal characteristic's influence to the enterprise technology innovation,as well as the supervision regulation of the relationship between the two andfindthat:(1)The CEO's age has a significant negative impact on the company's R&D investment,R&D output,and R&D efficiency.Compared with the elder CEO,the younger CEO's mental,physical and motivational advantages make his company's technological innovation level higher.(2)Compared with women,male CEOs' risk appetite and competitive awareness are conducive to promoting R&D investment,R&D output and R&D efficiency.(3)CEO's educationlevel has a significant positive impact on the company's R&D investment,R&D output and R&D efficiency.CEO with higher levels of education increase their probability of technological innovation with their rich knowledge reserves.(4)At the beginning of CEO tenure,he was more willing to carry out research and development investment activities,and then his willingness to invest in research and development gradually declined.CEO tenure has no obvious influence on R&D output and efficiency.(5)Companies led by CEO with R&D,technology and sales backgrounds have higher R&D investment,R&D output and R&D efficiency.(6)Overconfident CEOs can increase their R&D investment,R&D output,and R&D efficiency with their confidence in their own decisions.(7)The above six personal characteristics of CEO have more obvious influence on the technological innovation of enterprises with higher shareholding ratio of institutional investors and higher number of enterprises tracked by analysts.In response to the above research conclusions,the paper finally proposed the following management suggestions for Chinese companies:(1)Enterprises should reasonably choose young and promising CEOs and focus on motivating old CEOs to innovate.(2)Enterprises should pay attention to the advantages of male CEOs in technological innovation and enhance the competition awareness of female CEOs.(3)Enterprises should appropriately choose CEOs with high education level,or provide more opportunities for in-service CEOs to exchange learning and expand the knowledge reserves of CEOs.(4)Enterprises should appropriately extend the term of the CEO according to the actual situation,so that they have the motivation to consider the long-term development of the company.(5)Enterprises should select CEOs with R&D,technology and sales backgrounds to optimize the quality of innovation.(6)Enterprises should improve the selection mechanism of CEOs,and appropriately select over-confident CEOs through questionnaires or interviews to increase the probability of technological innovation.(7)Enterprises should make full use of the advantages of external regulators and invite them to participate in corporate governance,so as to expand the efficiency of CEO's innovative decision. 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