Stability of Top Management Team and Enterprise Dual Innovation Investment
Innovation is the key to China's economic transformation and upgrading,and the stability of top management team as the innovation strategy maker will affect the innovation investment of enterprises.Based on the dual innovation theory,this paper empirically discusses the mechanism of top management team stability on dual innovation investment of enterprises by taking A-share listed companies from 2012 to 2022 as samples.The results show that:the stronger the stability of the top management team,the more innovation investment.the influence of top management team stability on dual innovation investment is mainly reflected in exploratory innovation,but has no significant impact on exploitative innovation.the research and development background of top management team and monetary compensation incentive have a moderating effect on the stability of top management team and enterprise innovation investment.Therefore,listed companies should attach importance to the training and construction of top management team,take appropriate measures to stabilize the management team,reduce the change of management personnel,establish a hierarchical and organized management team,train potential managers systematically,and promote enterprises to improve the level of innovation investment.
stability of top management teamdual innovation investmentmonetary compensation incentive
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