Research on decision-making effectiveness factors of top management team

Based on the establishment of the models how the effect of TMT decision-making be influenced, the paper elaborates the source of the differences in decision-making like demographic characteristics and heterogeneity which affect the effect of the decisions indirectly through factors like TMT composition, TMT DM process control, DM flow etc. Clarifying these factors in the effectiveness of the whole TMT decision-making process is of important significance in reasonably controlling TMT structure, establishing scientific TMT decision-making flow, enhancing the team´s cohesion, upgrading decision-making effectiveness and improving TMT´s performance as well as a firm´s performance.