Research On The Influence Of The Heterogeneity Of Executive Team And Enterprise Performance

This article,supported by high-level echelon theory,social categorization theory,and information decision-making theory,explores whether the relationship between executive team heterogeneity and corporate performance has changed in the new management context,and whether new mechanisms have emerged.Based on the research idea of "executive team heterogeneity stability corporate performance",this article explores the mediating role of stability in the path of executive team heterogeneity affecting corporate performance.Using the panel data of A-share listed companies in China from 2016 to 2021 as a research sample,this thesis empirically examines the relationship between senior management team heterogeneity,stability,and corporate performance from five heterogeneity dimensions: senior management team age,gender,tenure,education level,and functional background.The test results are as follows: The heterogeneity of senior management team age and tenure is significantly negatively correlated with corporate performance,while the other three types of heterogeneity are not significantly correlated with corporate performance;Stability has a mediating effect in the relationship between senior management team age,gender,educational level,and functional background heterogeneity and corporate performance,while there is a masking effect in the relationship between senior management team tenure heterogeneity and corporate performance.In the following article,we divide the research data from three perspectives: ownership nature,industry differences,and regional differences.Grouping tests show that there are differences in research results from these three perspectives.The conclusion of this study is that in the new management context,the relationship between executive team heterogeneity and corporate performance has changed,and stability plays a mediating role between executive team heterogeneity and corporate performance.Finally,policy suggestions are proposed for how to adjust the personnel structure and equip the senior management team with heterogeneous tendencies in the new management situation.