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| An Empirical Study on TMT Heterogeneity and Firm Performance in
Chinese Manufacturing Companies with Declined Performance |
| LI Weining，LI Danyang，MENG Deying，HAN Xu |
| South China University of Technology, Guangzhou, China |
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Abstract The relations between firm performance and TMT heterogeneity in declined-performance manufacturing companies are studied. An empirical analysis is made by using the data from 148 Chinese listed companies in Shanghai and Shenzhen Stock Exchanges, which had CEO successions during 2006-2008 after firm performance decline. The results are as follows: TMT educational experience heterogeneity is negative related to corporate performance; there is positive moderate relationship between the interaction on proportion of state owned stock and TMT educational experience heterogeneity.
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Received: 13 November 2013
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2014, Vol. 11 
