Research On The Relationship Between Characteristics Of Executive Team,Marketing Investment And Corporate Performance Of New Three Board Sports Enterprises

The status and role of the sports industry in the national economy have been significantly enhanced.It is clearly pointed out in the "14th Five-year Plan" for Sports Development that we should fully mobilize the positive role of capital,talents,science and technology and other basic elements in the sports industry,and cultivate "specialized and innovative" small and medium-sized enterprises in the sports industry.In this context,the development of sports enterprises has ushered in a boom.It is particularly important for sports enterprises to grasp the opportunities in the market,improve their corporate performance and establish a good corporate image.With the increasingly complex market environment faced by sports enterprises,people pay more and more attention to the top management team and corporate performance,which determine the strategic direction of enterprises.At present,with the rapid change of capital,the development of sports enterprises cannot only rely on external capital,and the internal construction is more important.The senior management team has the right to choose and make the strategy of an enterprise,and the construction of the senior management team will affect the future of sports enterprises in some aspects.In this paper,64 sports enterprises in the New Third Board are selected as research objects,and panel data from 2015 to 2019 are taken as samples.Based on the research of other scholars,this paper defines important concepts such as the NEW Third Board market and executive team,and differentiates the relationship between the characteristics of executive team,marketing input and corporate performance.Based on the high-level echelon theory,group decision theory and marketing theory,the characteristics of the senior management team are taken as independent variable,corporate performance as dependent variable and marketing input as intermediary variable to study how the characteristics of the senior management team of the new Third Board sports enterprises affect corporate performance.Firstly,four hypotheses are proposed according to previous studies,and the measurement method of all variables is determined one by one,and then the research model of the four hypotheses is constructed.This paper first uses principal component analysis to get the comprehensive score of enterprise performance,and then uses basic analysis such as descriptive statistical analysis and multiple regression analysis to test,analyze and summarize the research hypotheses in this paper.Based on the above analysis,this paper draws four conclusions: First,the average age,education background and tenure of senior management team are positively correlated with corporate performance;Second,the average age and education level of senior management team are positively correlated with marketing investment.Third,marketing investment is positively correlated with enterprise performance.Fourthly,marketing investment has a partial mediating effect on the average age of executive team and corporate performance,and also has a partial mediating effect on the average education level of executive team and corporate performance.Finally,according to the conclusions of this paper,the following four suggestions are put forward: First,pay attention to the age of the senior management team and continuously optimize the age structure;Second,attach importance to the education of senior management team and constantly improve professional skills;Third,improve the system of senior management selection and employment,appropriately extend the tenure of senior management;Fourthly,increase marketing investment and formulate reasonable marketing strategies.