The Impact of Top Management Team Heterogeneity on The Performance of Technology Start-ups

Based on upper echelon theory and the perspective of value creation in the business model for technology start-ups, this paper explains the mechanism of top management team (TMT) heterogeneity on the performance of technology start-ups. Using survey data from 183 technology start-ups in China, the model is empirically tested. The findings demonstrate that age and tenure heterogeneity among TMT members significantly and positively affects the performance of technology start-ups While functional experience and educational level heterogeneity significantly and negatively affect their performance of technology start-ups. Moreover, the value creation of business models partially mediates the influences of age, tenure, functional experience and educational level heterogeneity among TMT members on the performance of technology start-ups.