Proceedings of the 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022)

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Research on Top Management Team Trait and Firm Performance

Authors
Yinjie Han1, *
1Taiyuan University of Technology, Taiyuan, China
*Corresponding author. Email: 503352480@qq.com
Corresponding Author
Yinjie Han
Available Online 2 December 2022.
DOI
10.2991/978-94-6463-010-7_104How to use a DOI?
Keywords
top management team traits; corporate performance; corporate governance
Abstract

As the strategic decision-makers of the enterprise, top management team has a profound impact on the efficiency of R&D investment of the enterprise, and even decides whether the enterprise makes plans and decisions on investment. This research focuses on the relationship between the demographic characteristics, cognition level of executives and enterprise investment has become the key to affecting enterprise development.

This paper builds a research theoretical framework based on high-level ladder theory, selects Shanghai and Shenzhen A-share listed companies from 2010 to 2019 as the research object, uses multiple linear regression as the main research method to examine the impact of top management team characteristics on firm performance.

The study found that the age, education level, tenure of the top management team were significantly positively correlated with firm performance, but the level of stock ownership of the top management team had no correlation with firm performance. Second, the stock ownership level of top management team members has a negative moderating effect on firm performance. The reason for this result is the time lag effect of equity incentives and the management risk aversion effect caused by executive stock ownership. Third, after distinguishing property rights, the stock ownership level of the top management team in state-owned enterprises and non-state-owned enterprises does not have a moderating effect on firm performance.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022)
Series
Atlantis Highlights in Intelligent Systems
Publication Date
2 December 2022
ISBN
10.2991/978-94-6463-010-7_104
ISSN
2589-4919
DOI
10.2991/978-94-6463-010-7_104How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yinjie Han
PY  - 2022
DA  - 2022/12/02
TI  - Research on Top Management Team Trait and Firm Performance
BT  - Proceedings of the 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022)
PB  - Atlantis Press
SP  - 1026
EP  - 1036
SN  - 2589-4919
UR  - https://doi.org/10.2991/978-94-6463-010-7_104
DO  - 10.2991/978-94-6463-010-7_104
ID  - Han2022
ER  -