Abstract:According to the survey data of 117 Chinese firms, we introduce the upper echelon theory and the theory of knowledge creation to explore the impact of top management team heterogeneity (age heterogeneity, tenure heterogeneity, education level heterogeneity, education specialty heterogeneity) on business model innovation, and the impact of top management team heterogeneity on business model innovation through intermediary variable knowledge creation. The results show that age heterogeneity of top management team has a negative impact on business model innovation, educational level heterogeneity has a positive impact on business model innovation, age heterogeneity has a negative impact on knowledge creation, and educational level heterogeneity has a positive impact on knowledge creation. Knowledge creation has a significant positive impact on business model innovation.