The Impact Of Internationalization Speed On The Performance Of Textile And Apparel Enterprises Based On The Moderating Effect Of Top Management Team Heterogeneity

In the form of economic globalization,many enterprises have started to speed up the pace of "going global".In practice,the speed of internationalization of a company and the heterogeneity of the characteristics of its executive team members play an important role in the development of internationalization.The current continuously evolving international situation and the rapid changes in the industry environment pose great challenges to the international development of companies.In this context,how does the speed of internationalization affect the performance of textile and apparel companies? How does the heterogeneity of top management team affect the speed of internationalization and corporate performance? These questions are crucial to the international development of textile and apparel companies.To address this research question,theoretical studies related to the speed of internationalization,top management team heterogeneity and corporate performance are firstly sorted out.Based on the core theories such as resource-based theory,a basic research model on the speed of internationalization,top management team heterogeneity and corporate performance is constructed.Further,by collating previous research in the areas of corporate performance and executive team heterogeneity,and taking into account the characteristics and development patterns of textile and apparel companies,we divide corporate performance into two dimensions: operational performance and growth performance.At the same time,age heterogeneity,educational level heterogeneity and overseas background heterogeneity are considered as important variables in the study of top management team heterogeneity by combining the top echelon theory and research on executive teams,so as to expand the research model.Further,according to the speed of internationalization for textile and apparel companies,we propose the hypothesis that the speed of internationalization is positively related to business performance and the speed of internationalization is positively related to growth performance.In addition,we propose a hypothesis on the moderating effect of executive team heterogeneity,including age heterogeneity and overseas background heterogeneity positively moderate the relationship between the speed of internationalization and business performance and growth performance,respectively;and education level heterogeneity negatively moderates the relationship between the speed of internationalization and business performance and growth performance.In order to further test the research hypothesis,regression analysis of the sample data was conducted by Stata statistical analysis software using listed textile and apparel enterprises as the research object.The regression results show that the speed of firm internationalization is positively related to business performance and growth performance.In addition,age heterogeneity positively moderates the relationship between internationalization speed and operating performance and growth performance,education level heterogeneity negatively moderates the relationship between internationalization speed and operating performance and growth performance,and overseas background heterogeneity positively moderates the relationship between internationalization speed and growth performance.In order to verify the robustness of the model,the main effect and moderating effect are tested separately by using the method of changing the dependent variable measure.The test results are consistent with the results before changing the dependent variable measure,indicating good model robustness.The study finds that the speed of internationalization affects the performance of textile and apparel firms,while executive team heterogeneity plays a moderating role.Specifically,Fast internationalizing companies can develop host country resources faster,which helps expand the international competitiveness of companies and will have a positive impact on business performance.At the same time,internationalization exposes firms to a more diverse environment.In order to adapt to these environments,they need to continuously learn to improve their capabilities,thus contributing to positive corporate growth performance.In addition,research on executive team heterogeneity shows that teams with high age heterogeneity are more likely to develop complementary strengths,which can help firms improve their performance during rapid internationalization.Educational level heterogeneity negatively moderates the relationship between the speed of internationalization and firm performance.Stronger educational level heterogeneity implies greater differences in learning ability among executive team members,which makes it difficult for them to form a consistent view when making decisions.Overseas background heterogeneity positively moderates the relationship between the speed of internationalization and firm growth performance,and executive teams with heterogeneous overseas backgrounds can form complementary knowledge,experience and experience that are conducive to international growth.Finally,suggestions were made for textile and garment enterprises.These are to actively respond to the "going global" policy,to accelerate the pace of "going global",to establish a corporate risk warning mechanism,to optimize the structure of the executive team,and to build a conflict management mechanism within the executive team.In conclusion,the speed of internationalization of textile and garment enterprises will promote the performance of enterprises,and the heterogeneity of the executive team is conducive to the development of enterprises’ internationalization by bringing into play their own characteristics.