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<p>Top management teams (TMTs) pursue green ambidextrous innovation by striking a balance between exploring novel environmental solutions and exploiting existing environmental technologies; however, in hierarchical teams marked by power asymmetries and diversity, their inclination toward either path remains unclear. Drawing on CEO–TMT interface perspective and social identity theory, we investigate how CEO–TMT diversity influences green ambidextrous innovation and test CEO tenure, TMT stability, and product market competition as moderators. The hypotheses are examined using a sample of Chinese A-share listed firms. We employ two-way fixed-effects models on a panel dataset covering the period from 2011 to 2020. The results show a negative association between CEO–TMT diversity and green exploratory innovation, alongside a positive association with green exploitative innovation. Meanwhile, CEO tenure, TMT stability, and product market competition significantly mitigate the negative relationship between diversity and green exploration. However, these factors fail to exert a significant influence on how this diversity affects green exploitation. Our findings indicate that TMTs with higher CEO–TMT diversity tend to promote green exploitative innovation rather than green exploratory innovation, while longer CEO tenure, greater TMT stability, and stronger product market pressure can motivate these teams to pursue exploration. Accordingly, we call for differentiated policy support for green ambidextrous innovation and stronger efforts to cultivate cohesion within TMTs.</p>

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Balancing exploration and exploitation: Exploring the impact of CEO–TMT diversity on green ambidextrous innovation

  • 期刊论文

  • 发表日期：

    2026年2月24日

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  • Yalan Yang,
  • Zhiyu Chen,
  • Biying Wang

摘要

Top management teams (TMTs) pursue green ambidextrous innovation by striking a balance between exploring novel environmental solutions and exploiting existing environmental technologies; however, in hierarchical teams marked by power asymmetries and diversity, their inclination toward either path remains unclear. Drawing on CEO–TMT interface perspective and social identity theory, we investigate how CEO–TMT diversity influences green ambidextrous innovation and test CEO tenure, TMT stability, and product market competition as moderators. The hypotheses are examined using a sample of Chinese A-share listed firms. We employ two-way fixed-effects models on a panel dataset covering the period from 2011 to 2020. The results show a negative association between CEO–TMT diversity and green exploratory innovation, alongside a positive association with green exploitative innovation. Meanwhile, CEO tenure, TMT stability, and product market competition significantly mitigate the negative relationship between diversity and green exploration. However, these factors fail to exert a significant influence on how this diversity affects green exploitation. Our findings indicate that TMTs with higher CEO–TMT diversity tend to promote green exploitative innovation rather than green exploratory innovation, while longer CEO tenure, greater TMT stability, and stronger product market pressure can motivate these teams to pursue exploration. Accordingly, we call for differentiated policy support for green ambidextrous innovation and stronger efforts to cultivate cohesion within TMTs.