Research on the Relationship between Stability, Heterogeneity of Top Management Team and Enterprise Technological Innovation Performance Evidence from Chinese listed companies

In recent years, the Chinese market has been one of the most innovative markets in the world. We know that China implements an economic system in which public ownership is the mainstay and multiple ownerships develop together. The impact of differences in corporate ownership structures on corporate technological innovation capabilities has always been controversial. In fact, economic theory does not support the impact of ownership structure differences on technological innovation performance. Entrepreneurs should be the reason for the differences in technological innovation capabilities among enterprises, because in the technological innovation practices of Chinese enterprises that emphasize collective leadership, the impact of entrepreneurial factors on technological innovation performance is not very prominent. Therefore, based on the context of Chinese corporate technological innovation, we explain its relationship with corporate technological innovation performance from the perspective of corporate executive team stability and heterogeneity. We try to take an empirical approach to explore what characteristics of the top management team will be conducive to the improvement of corporate technological innovation performance, which will provide theoretical guidance for the construction of corporate top management teams that promote technological innovation.