互联网企业高管战略柔性与企业绩效的关系

With the rapid development of the Internet industry, domestic Internet firms are springing up like mushrooms. The research on the strategic flexibility of the top management team on Internet firms has gradually attracted the attention of scholars.This paper selects the non-equilibrium panel data of Internet listed firms in Shanghai and Shenzhen Stock Exchanges from 2015 to 2017. Based on the Upper Echelon Theory, this paper extracts the strategic flexibility index through the Principal Component Analysis Method, builds a model, and empirically tests the influence of strategic flexibility on firm performance.The results show that there is a significant inverted "U" relationship between strategicflexibility of the top management teamand firm performance. According to the research conclusion, this paper believes that Internet firms need to achieve the following two points in enterprise management: on the basis of comprehensive measurement of the gain and benefit and incremental cost brought by the strategic flexibility of firms, the number of senior executives with technical ability should be appropriately increased, the R&D investment and intangible assets of enterprises also should be increased according to the actual situation of firms.