Abstract: The traditional enterprise theory treats subsidiaries of the group as a whole without difference. However, subsidiaries are significantly different in industry distribution, time of founding, firm size and capability maturity, which are called subsidiary heterogeneity characteristics and they have different levels of impacts on the headquater’s management. Based on the literatures review, this paper summarizes the subsidiary heterogeneity characteristics’ connotation, necessity, way of measuring, and the relationship between the subsidiary heterogeneity characteristics and the group’s achievements. Based on these analyses, this paper puts forward an integrated research model of the subsidiary heterogeneity characteristics, and discusses the future researches