This study examines the impact of top management team (TMT) social networks on enterprise digital innovation, focusing on the moderating role of financing constraints. Using a sample of A-share listed companies in China from 2010 to 2018, the research employs multidimensional fixed-effect regression analysis. The findings indicate that internal TMT relationship stability has an inverted U-shaped relationship with digital innovation, while external TMT alumni networks positively influence digital innovation. The interaction between TMT relationship stability and alumni networks also positively affects digital innovation. However, financing constraints do not moderate the relationship between TMT relationship stability and digital innovation but negatively moderate the relationship between TMT alumni networks and digital innovation. These results extend the literature on the relationship between TMT social networks and digital innovation, emphasizing the importance of attention allocation in this context.This study examines the impact of top management team (TMT) social networks on enterprise digital innovation, focusing on the moderating role of financing constraints. Using a sample of A-share listed companies in China from 2010 to 2018, the research employs multidimensional fixed-effect regression analysis. The findings indicate that internal TMT relationship stability has an inverted U-shaped relationship with digital innovation, while external TMT alumni networks positively influence digital innovation. The interaction between TMT relationship stability and alumni networks also positively affects digital innovation. However, financing constraints do not moderate the relationship between TMT relationship stability and digital innovation but negatively moderate the relationship between TMT alumni networks and digital innovation. These results extend the literature on the relationship between TMT social networks and digital innovation, emphasizing the importance of attention allocation in this context.