Attributes of Top Management Team Composition, Power Distribution & Diversification Strategies: Based on the Data of the Listed Chinese Manufacturing Corporations

Based on the research sample of the listed Chinese manufacturing corporations, this essay explores the relationship between the feature of top management composition and diversification strategies as well as the moderating effect of the prestige power on the two. The research result shows that in terms of the features of top management composition, tenure and education level have negative relationships with the diversification, while there is no negative relationship between age and diversification. Considering the variables reflecting the prestige power, the moderation effect of tenure is empirically proved to exist, while that of age and education does not exist. The introduction of mediation variable of power will not only enrich the theoretical research on top management team, but also give instructions on top management team construction.