Publication Type

PhD Dissertation

Version

publishedVersion

Publication Date

1-2026

Abstract

Driven by the digital economy and intensifying global competition, corporate innovation has become a core driver of sustainable growth. Topmanagement members are key strategic decision-makers, and their individual characteristics critically influence the formulation and implementation of innovation strategies. While existing studies have examined the impact of topmanagement’s cognitive and psychological traits on innovation performance, significant gaps remain in understanding how their routine behavioral preferences—particularly running, a globally prevalent exercise—affect innovation performance through psychological mechanisms. The systematic relationship between running preferences, top management’s psychological traits, and organizational innovation outcomes remains underexplored.

Against this backdrop, the study investigates the mechanismthroughwhich top management’s running preferences (a non-cognitive trait) influence corporate innovation performance via psychological traits, while examiningthe moderating effect of external environmental uncertainty.

Grounded in upper echelons theory, conservation of resources theory, and theory of positive emotions, the study develops a sequential mediationmodel (running preference—psychological traits—innovation performance). Empirical analysis of survey data from 508 top management reveals the profound mechanism through which non-cognitive traits influence strategic decision-making.

Theoretically, the study bridges a research gap throughmultidisciplinary integration. Grounded in the “demographic characteristics—cognitive schema—strategic choice” logic chain of upper echelons theory, the study extends the research domain of non-cognitive traits by conceptualizing running preference as an antecedent variable of topmanagement’s psychological traits. This approach transcends traditional reliance on demographic variables such as age and gender. In addition, employing the resource loss spiral and resource gain spiral frameworks fromconservation of resources theory, the study elucidates how running preferences enhance top management’s psychological resilience through sustainedaccumulation of physiological-psychological resources, and the enhancement consequently strengthens their resource investment propensity in innovationdecisions. Furthermore, integrating the theory of positive emotions, the studydemonstrates how running-induced positive emotions facilitate topmanagement’s cognitive flexibility and creative thinking, offering novel insights into the relationship between exercise behavior and strategic decision-making quality.

To study the impact of running preference of top managers oninnovation performance, I first develop a structured questionnaire based onliterature review and interview findings. Using a combination of convenience sampling and snowball sampling techniques, the study collects 508 validresponses from top management across diverse industries and regions. The sample consists of 76.2% male respondents with an average age of 45.3 years and an average tenure of 6.8 years. Then I utilize multiple regression analysis, structural equation modeling, and moderated mediation analysis to empiricallytest the theoretical hypotheses. Robustness testing is conducted throughalternative dependent variable measures and modified sample selection criteria.

The empirical findings reveal that: (1) Under homogeneous conditions, corporate innovation performance improves with topmanagement’s running preferences, though the intensity of such preferences shows no direct significant effect on corporate innovation performance. (2) External environmental uncertainty positively moderates the relationshipbetween top management’s running preferences and corporate innovationperformance. Specifically, in highly turbulent environments, runningpreferences strongly exert a stronger effect on enhancing psychological resilience, whereas this effect diminishes in low-uncertainty contexts. (3) Heterogeneity analysis identifies three critical boundary conditions: First, gender differences—the innovation-enhancing effect of running preferences is more pronounced among male top management but statistically insignificant among female top management. Second, educational attainment—the mediating effect of psychological resilience is significantly stronger amongtop management with doctoral and master’s degrees than those with bachelor’s degrees or lower. Third, enterprise size—in small and medium-sizedenterprises (SMEs), running preferences more significantly influence innovation performance through positive emotions, whereas in large enterprises, this pathway is partially counteracted by organizational inertia.

The study yields significant theoretical contributions and practical implications. Theoretically, the study pioneers empirical tests on the strategic significance of running preferences as a non-cognitive trait among topmanagement, extending the micro-level boundaries of upper echelons theory. By developing a “behavioral preference—psychological mechanism—organizational outcome” mediation model, it establishes a novel paradigm for examining cross-level relationships between individual traits andorganizational performance. Furthermore, the study confirms the contingencyeffect of environmental uncertainty, thereby enriching the application of conservation of resources theory in dynamic contexts. Practically, the findings offer novel insights for top management selection and development—under innovation-driven strategies, running preferences may serve as indicators of top management’s psychological resilience and positive emotions. For topmanagement, regular running functions not merely as a health management tool but as a cost-effective intervention to enhance strategic decision-makingquality. Policymakers should encourage enterprises to cultivate sports-supportive corporate cultures, fostering a virtuous cycle of “healthyexecutives—psychological traits—corporate innovation” to drive organizational excellence.

Keywords

top management’s running preferences, corporate innovation performance, environmental uncertainty, upper echelonstheory, regression model

Degree Awarded

Doctor of Business Administration (Accounting and Finance)

Discipline

Organizational Behavior and Theory | Strategic Management Policy

Supervisor(s)

WANG, Rong

First Page

1

Last Page

264

Publisher

Singapore Management University

City or Country

Singapore

Copyright Owner and License

Author

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