Empirical Research On The Impact Of Vertical Dyad Difference Within Top Management Team On Novelty-centered Business Model Design

With the rapid development of information technology and digital economy,Chinese enterprises under the background of economic transformation are facing many challenges from inside and outside the industry.Since the traditional business model can hardly guarantee the sustainable development of enterprises,enterprises can gain competitive advantage by designing novelty-centered business mode.Novelty-centered business model design means that the enterprise creates value by constructing a new trading system,and its essence is to better meet customers' new value proposition.As the makers of strategic decisions,top management team plays an important role in the process of novelty-centered business model design.The vertical dyad difference between upper and lower levels within top management team is an important tool to research the dependence of individuals and groups within top management team,and it is especially obvious in the unique social and cultural background of our country.In order to explore the impact mechanism of vertical dyad differences within top management team on novelty-centered business model design.This research firstly summarizes the literature and theories related to vertical dyad difference within top management team and novelty-centered business model design.On this basis,these research hypotheses between vertical dyad difference within top management team and novelty-centered business model design are proposed,and these moderating effects of the degree of industry competition on the relationship between vertical dyad difference within top management team and novelty-centered business model design are also analyzed.Secondly,this research takes the manufacturing enterprises on the growth enterprise market from 2009 to 2018 as the research samples,selects the age,education and tenure of vertical dyad difference between chairman and management team as the explanatory variables,and uses the HHI in the industry as the moderator variable.Finally,through the empirical research of 459 gem manufacturing enterprises,there is a significant positive correlation between the education of vertical dyad difference within top management team and novelty-centered business model design,and there are significant negative correlations between the age and tenure of vertical dyad difference within top management team and novelty-centered business model design.In addition,the degree of industry competition weakens the effect between the age of vertical dyad difference within top management team and novelty-centered business model design,while the degree of industry competition has no significant effect between the education and tenure of vertical dyad difference within top management team and novelty-centered business model design.The research conclusions of this paper have some reference and inspiration for enterprises to reduce the emotional conflicts among members of top management team,improve the quality and efficiency of enterprise's innovation decisions,and implement novelty-centered business model design.