Study of the impact of TMT characteristics on the technology diversification and performance relationship of high-tech enterprise

摘要

In recent years, due to the diversified technology's influence over organizational performance, it has attracted the attention of many scholars. However, very few studies have been done on the relationships between the diversified technology, enterprise performance and the regulating effect of the senior management team. In this paper, through the adoption of Chinese hi-tech listed companies' panel data from 2004 to 2012emprirical analysis of technology diversification's relationship with corporate performance has been made. Also, analysis of the adjustment to the relationship of the characteristics of TMT technology diversification and performance has been done. Results indicate positive correlation between the technology diversification and corporate financial performance and inverted u-shaped relationship between technological diversification and innovation performance. The functions of TMT output have the positive adjustment to technology diversification and performance. And the proportion of a variety of professional experience has a negative regulatory function.