中文摘要：

本文基于高阶梯队理论，针对以往TMT研究的关键问题，探讨绩效下滑的非多元化企业CEO继任后，TMT异质性、战略变革和绩效改善的关系。本文选取了沪深两市2005-2013年相关数据为研究变量，对2008-2010期间发生CEO变更的145家绩效下滑的非多元化企业进行实证研究，结果表明，TMT任期异质性对战略变动有显著负向影响，战略变动对企业绩效变化没有显著影响，战略背离对企业绩效变化有显著负向影响。当我们探索性的测量战略变革的方向时，发现战略变动与企业绩效变化呈U型关系，战略背离与企业绩效变化呈倒U型关系。本研究不仅为绩效下滑的非多元化企业转型战略研究提供一个新的视角，而且为绩效下滑企业选择高管团队提供了决策的依据。

英文摘要：

Based on Upper Echelons Perspective, this study focuses on corporations with declining perform- ance to analyze relationship among TMT heterogeneity, strategic change （including strategic variation and strategic deviation） and improvement of corporate performance. Choosing the data from 2005 to 2013 as variables, an empirical research of 145 Chinese listed non--diversified companies which had CEO succes- sions during 2008-2010 after firm performance declined is carried on. It is shown that TMT tenure heter- ogeneity and strategic variation are negatively related, and that strategic deviation has a negative effect on the improvement of corporate performance. As exploring the direction of strategic change, it is discovered that strategic variation has a U--shaped relationship with improvement of corporate performance; strategic deviation has an inverted U--shaped relationship with improvement of corporate performance. A new per- spective for researches about transformative strategy of non-diversified enterprises with declining perform- ance is provided, and a basis for Chinese enterprises to select TMT is also proposed.