A STUDY ON THE IMPACT OF TOP MANAGEMENT TEAM HETEROGENEITY ON CORPORATE SUSTAINABLE PERFORMANCE

Based on data from Chinese publicly traded companies, this study looks into how the diversity of the Top Management Team (TMT) affects the long-term performance of a company, including its economic benefits and its environmental, social, and governance performance. Using a fixed-effects panel model to do empirical research shows that TMT heterogeneity has a big positive impact on the long-term performance of businesses. Digitalization plays a competitive role in passing on the effect of TMT heterogeneity. The moderation analysis shows that the level of internationalization has a strong negative effect on the relationship between the different types of TMT and long-term performance. On the other hand, environmental autonomy does not have a significant moderating effect. This study adds to what we know about the theoretical link between TMT heterogeneity and a company's long-term performance. It also gives businesses useful information for putting together management teams and making long-term plans.