New product portfolio performance in family firms

This study investigates the relationship between top management team (TMT) innovation orientation and new product portfolio performance in small and medium-sized family firms by exploring two family firm-specific sources of TMT diversity as moderators: the number of generations involved in the TMT and the ratio of family members in the TMT. Results indicate that family-induced diversity in the TMT has opposing moderating effects. Although a positive relationship exists between TMT innovation orientation and new product portfolio performance when multiple generations are involved in the TMT, TMT innovation orientation and new product portfolio performance experience a negative relationship when the ratio of family members in the TMT is high. The study discusses theoretical and managerial implications of the findings and develops avenues for future research.     

面向生命周期的企业TMT演进过程研究

企业高层管理团队（TMT）属于企业的决策制定与执行层，在企业中发挥着举足轻重的作用。因此，对其演进过程的研究具有十分重要的现实意义。文章引入“团队生命周期”理论来研究企业TMT的演进过程，对TMT的孕育期、诞生期、成长期与消亡期进行了层层深入的剖析。这种系统化的综合分析模式将为培育优秀的企业高层管理团队提供借鉴。     

高管团队薪酬差距、市场化进程与上市公司绩效

本文以2005—2010年我国上市公司为样本,实证分析了企业股权性质和市场化进程对高管团队薪酬差距和公司绩效的影响。研究结果发现,国有持股比例提高和市场化进程加快都会对高管团队薪酬差距与公司绩效之间的显著正相关关系产生积极影响;推进市场化进程是发挥高管团队薪酬激励作用的核心,灵活的薪酬管理体制将是国有企业改革的方向。     

TMT网络特征、知识创造与双元创新关系研究

文章以社会网络理论与知识基础观,探索企业双元创新的形成机制。高层管理团队（TMT）网络特征（中心性、稀疏性）代表获取企业外部资源与信息的能力,通过组织知识创造过程（知识交流、知识组合）,促进企业双元创新。依据241份样本,对TMT网络特征与双元创新间关系进行实证检验,且探讨了知识交流与知识组合两类知识创造过程的中介作用。实证结果表明：TMT网络特征对双元创新具有积极影响;知识交流与知识组合对上述关系均具有中介作用。实证研究结果在理论上指出TMT社会网络嵌入性的重要性,有助于深化TMT网络特征对企业双元创新的相关机理研究。     

上市公司社会资本、研发投入与创新产出——来自TMT和互联网企业的证据

基于社会资本效用异质性视角,运用132家TMT和互联网企业8年的数据,研究了连结型、桥接型和结合型社会资本对创新产出的影响及其过程机理。经验证实,社会资本的存在使研发行为支持关系型创新的观点,连结型社会资本同创新产出的正相关关系最为密切。研发投入在社会资本与创新产出之间发挥了不完全的中介作用。公司属性和融资约束的差异显著影响产出规模,在融资约束宽松或国有TMT和互联网企业中,R&D投入的积极效应更明显。     

TMT Potency and Strategic Decision‐Making in High Technology Firms

Confidence is necessary for effective top management team (TMT) functioning, however overconfidence or hubris has been associated with poor outcomes. Researchers have struggled to untangle questions of how much confidence is functional and whether there are different forms of confidence. Using data from a field study of 54 public high‐technology firms we provide a richer understanding of the complex influence of one type of confidence, TMT potency on strategic decision‐making. Specifically, using a field study of TMTs of 54 public high technology firms we find potency at least partially mediates the relationship between TMT experience and knowledge, TMT interaction process, and strategic decision speed. Post‐hoc analysis of high potency teams suggests that potency may be either functional – leading to high performance, or dysfunctional – resulting in low performance. Potency appears to be a multi‐faceted construct consisting of both level and domain boundedness. We offer propositions that begin to untangle the origins of functional versus dysfunctional potency or hubris.     

TMT社会网络、公司创业与企业绩效关系研究

拥有大量内外部信息资源的高管团队(TMT),其社会网络不但可以提供公司创业的机会来源,也是企业现在绩效和未来绩效的影响因素。TMT的社会网络只有通过公司创业机制才能转化为企业绩效的价值创造过程。中国背景下的实证研究显示:TMT社会网络、公司创业都与企业绩效正相关,对于企业而言,要高度重视通过管理手段激励整个高管团队的所有成员去构建有效的内外部社会网络;公司创业的价值增值中介作用也得到证实,公司创业发挥着重要的资源整合作用,有价值的TMT内外部社会网络只有充分融入企业的产品或服务创新,以及深层次的战略更新过程中,为企业的价值增值服务,才能转变为企业绩效。     

Offshoring and firm innovation: The moderating role of top management team attributes

This study attempts to increase the understanding of how offshoring influences the introduction of new products and services. Focusing on the offshoring of those business functions that provide direct knowledge inputs for innovation (i.e., production, R&D, and engineering), we propose that offshoring has an inverted U‐shaped influence on firm innovativeness. Additionally, we provide an upper echelon contingency perspective by considering the moderating role of two top management team (TMT) attributes (i.e., informational diversity and shared vision). Using a cross‐industry sample with lagged data, we find that offshoring has an inverted U‐shaped influence on firm innovativeness and that this relationship is steeper in firms with high TMT informational diversity and in firms with low TMT shared vision. Copyright © 2012 John Wiley & Sons, Ltd.     

Requisite expertise,firm reputation,and status in venture capital investment allocation decisions

Drawing together research in the upper echelon perspective, strategy, and organizational sociology, this paper examines (1) the relationship between the finance expertise of a venture capital (VC) firm's management team and investment selection, and (2) the moderation of this relationship by the VC firm's social position. We find that while finance expertise is associated with a lower proportion of early-stage investments, this relationship is weaker for firms with high reputation and stronger for firms with high status. We conclude with a discussion of the importance and nuances of external image considerations on investment decisions as well as insights into the importance of the requisite nature of expertise.     

企业TMT社会资本与决策质量的关系

以TMT制定战略决策时的决策承诺为中介变量,构建并验证了企业TMT的社会资本与决策质量的关系。在经典的结构、关系和认知三维框架下,开发了测量企业TMT社会资本的三个构面,并通过探索性和验证性因子分析对三个主要变量（TMT的社会资本、决策质量和决策承诺）进行了测量。结构模型的验证结果显示,企业要提高决策质量,应该重视提高企业TMT成员对企业的承诺。