The Impact of Top Executive Team Heterogeneity on Firm Performance and Financial Leverage

Yuxiang Wang ()
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Yuxiang Wang: University of Liverpool, Department of Mathematical Sciences

A chapter in Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022), 2023, pp 323-335 from Springer

Abstract: Abstract This paper empirically analyzes the impact of top executive team heterogeneity on firm performance and financial leverage with fixed effects model based on data of Listed Companies in China's software and information technology service industry from 2012 to 2018. The results show that age heterogeneity has a significant negative correlation with short-term performance, but not with long-term performance. The relationship between occupational background heterogeneity and enterprise performance is not significant. Moreover, age heterogeneity has a significant negative effect on financial leverage, while occupational background heterogeneity has a significant positive effect.

Keywords: Top management team; Age heterogeneity; Occupational background heterogeneity; Long-term and short-term performance; Financial leverage (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-054-1_37

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DOI: 10.2991/978-94-6463-054-1_37

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