This article analyzes the relationship between top management team characteristics and cooperate diversification strategy at home and abroad based on the methods of meta-analysis and hierarchical linear modeling. Our results indicate that various characteristics of top management team have different relationships with cooperate diversification strategy. For instance, top management team size has the positive relationship with diversification strategy significantly, while the average age of the team and heterogeneity of educational background and some other demographics have negative relationship with diversification strategy significantly, and other characteristics have no significant relationship with it. Furthermore, the national and industrial characteristics are the main reasons to explain the difference of existing research results.  At last, it puts forward the future research directions in the field of top management team.