Abstract: The existing research conclusions about the influence mechanism of top management teams (TMT) on enterprise innovation ability are not consistent, and the main reason is the lack of division of the dimensions on diversified traits. This paper explores TMT background diversify from two dimensions:social background diversity and function background diversity, and empirically tests their effect on enterprise innovation ability using the samples of 345 listed companies on second board market from 2014 to 2018. The research results of this paper are as follow:(1) Significant negative correlation is observed between the social background diversity of TMT and innovation capability of the enterprise. (2) The correlative analysis shows that there is a positive correlation between the function background diversity of TMT and enterprise innovation ability. (3) Further research shows that ownership concentration plays a regulatory effect between the diversification of TMT and the innovation ability of enterprise. The improvement of ownership concentration lowers the negative impact of the social background diversity of TMT on the enterprise innovation ability, and enhances the positive effects of the functional background diversity on the innovation ability of the enterprise. This paper provides ideas for explaining the inconsistency of existing research conclusions, supplements and enriches the explanatory power of existing theoretical research. The research conclusions of this paper provide theoretical support for the second board market high-tech enterprises to improve their innovation ability by optimizing the structure of TMT, and enrich the theory achievements in the field of TMT and innovation research.

Key words: top management team diversity, dual-dimensional analysis, innovation ability, ownership concentration