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Impact of executive team heterogeneity on enterprise digital technology innovation: The moderating effect based on digital finance

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  • Li, Wen
  • Lv, Beining
  • Sun, Hongxia

Abstract

Executive teams play a central role in corporate digital technology innovation decisions, with digital finance serving as a crucial external financial driver. We examine Chinese A-share listed companies (2013–2023) within a unified analytical framework that integrates executive team heterogeneity, digital finance, and corporate digital technology innovation. The findings reveal three key insights: First, executive team heterogeneity—including educational, functional, and overseas diversity—significantly enhances digital technology innovation capabilities. Second, digital finance amplifies the synergistic effects of executive team heterogeneity on technological advancement. Third, this promoting effect is more significant in non-state-owned enterprises.

Suggested Citation

  • Li, Wen & Lv, Beining & Sun, Hongxia, 2026. "Impact of executive team heterogeneity on enterprise digital technology innovation: The moderating effect based on digital finance," Finance Research Letters, Elsevier, vol. 89(C).
    • Handle: RePEc:eee:finlet:v:89:y:2026:i:c:s1544612325025255
    DOI: 10.1016/j.frl.2025.109276
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