Effects of Top Management Team Characteristics on Enterprise Innovation Activities : Evidence from the Board for Small and Medium-sized Enterprises in China

抄録

Using data published in the 2004-2007 annual reports of companies listed by the board for small and medium-sized enterprises (SMEs) in China, the study examines the relationship between characteristics of the top management team (TMT) and enterprise innovation activities in Chinese SMEs. Findings indicate: 1) Firms more actively engaged in innovation activities are likely to have TMTs characterized by shorter team tenure, higher educational level, more educational specialization in science and engineering, and more occupational background in output functions; 2) Age heterogeneity among TMT members has significantly positive influence on enterprise innovation activities, but heterogeneity of educational level among TMT members has a notably negative influence on those same activities; 3) TMT age and heterogeneity of team tenure, educational, and occupational background have little impact on enterprise innovation activities. This study may provide a point of reference for further research on top management teams and enterprise innovation activities based on upper echelons theory.