How does top management team diversity matter in abruptly dynamic environments?
Abstract
This study seeks to investigate how top management team (TMT) diversity as a double-edged sword influences a firm’s resilient performance in abruptly dynamic environments and how TMT group longevity moderates this relationship. Abruptly dynamic environment is characterized by low-frequency, substantial magnitude, and high-degree irregularity of change. Utilizing 168 listed electronics firms in Taiwan as the sample, this study incorporated the context of the 2008 global financial crisis as a naturally quasi-experimental setting and adopted a less investigated performance metric, firm resilient performance, to investigate how the two most researched types of TMT job-related diversity (i.e., educational and functional diversity) influence firm resilience in such environments. The results suggest that in abruptly dynamic environments, TMT job-related diversity negatively influences firms’ resilient performance, and TMT longevity significantly moderates this relationship. This study makes unique contributions to the upper-echelons literature by investigating the effect of TMT diversity in a naturally quasi-experimental setting featuring abrupt environmental dynamism.
Keyword : dynamic environments, global financial crisis, resilient performance, top management team diversity, uncertainty, upper echelons theory
How to Cite
Chen, W.-H., & Liu, Y.-Y. (2018). How does top management team diversity matter in abruptly dynamic environments?. Journal of Business Economics and Management, 19(3), 521-543. https://doi.org/10.3846/jbem.2018.6579
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Hauschild, S., Knyphausen-Auseß, D. Z., & Rahmel, M. (2011). Measuring industry dynamics: towards a comprehensive concept. Schmalenbach Business Review, 63, 416-454. https://doi.org/10.1007/BF03396827
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Kauer, D., Waldeck, T. C. P., & Schäffer, U. (2007). Effects of top management team characteristics on strategic decision making: shifting attention to team member personalities and mediating processes. Management Decision, 45, 942-967. https://doi.org/10.1108/00251740710762017
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Lee, H., & Park, J. (2006). Top management team diversity, internationalization, and the mediating effect of international alliances. British Journal of Management, 17, 195-213. https://doi.org/10.1111/j.1467-8551.2006.00501.x
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Li, P. Y., & Lo, F. Y. (2017). Top management teams’ managerial resources and international diversification: the evidence under an uncertain environment. Management Decision, 55, 1999-2017. https://doi.org/10.1108/MD-06-2016-0364
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McKnight, D. H., Cummings, L. L., & Chervany, N. L. (1998). Initial trust formation in new organizational relationship. Academy of Management Review, 23, 473-490. https://doi.org/10.2307/259290
Menz, M. (2012). Functional top management team members: a review, synthesis, and research agenda. Journal of Management, 38, 45-80. https://doi.org/10.1177/0149206311421830
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Naranjo‐Gil, D., Hartmann, F., & Maas, V. S. (2008). Top management team heterogeneity, strategic change and operational performance. British Journal of Management, 19, 222-234. https://doi.org/10.1111/j.1467-8551.2007.00545.x
Nelson, R. R. (1982). The role of knowledge in R&D efficiency. Quarterly Journal of Economics, 97, 453-470. https://doi.org/10.2307/1885872
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