The Impact of Entrepreneurs' Tenure of Cultural enterprises on Corporate Performance

The tenure of entrepreneur is the main factors affecting the prosperity and development of enterprises. However, few studies systematically reveal how the tenure of entrepreneurs in cultural enterprises affects the development of corporate performance. We take small and medium-sized cultural enterprises listed on China's New Third Board as the research object, constructs panel data of 146 cultural enterprises from 2015 to 2019, adopts panel model to study the influence of tenure of entrepreneurs of cultural enterprises on corporate performance, and discusses the moderating effects of three variables, namely whether entrepreneur of cultural enterprises is the founder, gender and education level. The empirical results show that the tenure of entrepreneur has a positive impact on corporate performance, which is an inverted U-shaped nonlinear structure. There are differences in the influence of gender on the inverted U-shaped relationship between entrepreneur tenure and corporate performance. We provide a scientific basis for cultural enterprises to formulate corporate development strategies.