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| The Influencing Mechanism of Top Management Team Heterogeneity on Radical Innovation |
| ZHAO Jun，WANG Huiyu，LIU Zhiqiang，WANG Yan |
| 1. Zhongnan University of Economics and Law, Wuhan, China; 2. Huazhong University of Science and Technology, Wuhan, China |
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Abstract By examining a sample of Chinese A-share listed manufacturing companies, this study explores the link between top management team (TMT) heterogeneity and radical innovation based on Upper Echelons Theory, and analyzes the moderating effects of TMT pay disparity (i.e., horizontal pay disparity and vertical pay disparity) combining with the view of social comparison and tournament. The results indicate that: Both functional heterogeneity and international heterogeneity positively influence radical innovation; Horizontal pay disparity negatively moderates the impact of international heterogeneity on radical innovation, that is, when horizontal pay disparity is at a high level, the positive impact of international heterogeneity on radical innovation will be weakened; Vertical pay disparity positively moderates the impact of functional heterogeneity on radical innovation, that is, when vertical pay disparity is high, the positive impact of functional heterogeneity on radical innovation will be enhanced.
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Received: 16 December 2022
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