Top manager′s flow across enterprise border is an important way for most enterprises to learning and getting strategic knowledge resources.Based on the perspective of knowledge transfer, this paper, using the paired samples data which are collected form listed companies of manufacture industry in Shanghai and Shenzhen Stock Market, tests the effects of top manager′s flow on focal enterprise′s strategy learning, as well as the influences of relational demography of the executive and top management team.Empirical result shows that top manager′...