China's requirements for economic development have shifted from high-speed to high-quality development. As a micro-subject, enterprises are an important part of the economy and society. Improving their total factor productivity is of great significance to the high-quality development of the economy. Based on the data of A-share listed companies from 2010 to 2020, a regression analysis model is established to explore the relationship between the heterogeneity of top management team and the total factor productivity of enterprises. It is found that the age heterogeneity and professional background of executives have a significant positive impact on the total factor productivity of enterprises. According to the heterogeneity analysis, for enterprises in the eastern and central regions, the age heterogeneity of the top management team has a significant impact on the total factor productivity of the enterprise, while for enterprises in the central and western regions, the heterogeneity of the top management team's professional background has a positive impact on the total factor productivity of the enterprise. The research conclusions provide important suggestions for companies in different regions to achieve the goal of improving total factor productivity.

Meiru Song. The Influence of Top Management Team Heterogeneity on Enterprise Total Factor Productivity. Academic Journal of Business & Management (2023) Vol. 5, Issue 26: 153-163. https://doi.org/10.25236/AJBM.2023.052624.

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