The relations between corporate performance and top management teams heterogeneity were studied.  An empirical analysis were made by using the data from 356 Chinese listed companies in Shanghai and Shenzhen Stock Exchanges during 2001-2002.  The results show that there is negative moderate relationship among the interaction of industry dynamics and top management team functional experience, age heterogeneity.  Some findings were analyzed and summarized.  The future studies of this field is alse proposed.