Top management team diversity and firm performance: exploring a function of age

Tomohiko Tanikawa*, Soyeon Kim, Yuhee Jung

*この研究の対応する著者

研究成果査読

10 被引用数 (Scopus)

抄録

Purpose: Based on socioemotional selectivity theory, the authors aimed to develop and test hypotheses that identify the direct effect of top management team (TMT) age diversity on firms’ financial performance (return on equity [ROE], return on assets [ROA]) and the interactive effect of TMT age diversity and TMT average age on firms’ financial performance. Design/methodology/approach: The paper presents results from a quantitative study of 867 TMTs in Korean manufacturing firms. Multiple hierarchical regression analysis was used to test the hypotheses. Findings: The results show that TMT age diversity had a negative and significant main effect on ROE but not on ROA. They also indicate that the negative relationship between TMT age diversity and firm performance (ROE) was attenuated when the members of TMTs were relatively older. Originality/value: First, this study extends existing TMT research, which mainly focuses on macro factors, such as industry and environment, by using micro factors, including TMT age diversity and TMT average age. Second, this paper combines and extends previous TMT studies, which have been dominated by either “property” or “tendency”, by examining the interactive effect of the distributional property (diversity) and central tendency (average) of TMT age on firms’ financial performance. Finally, this study indicates that socioemotional selectivity theory may be useful to explain the link between TMT age diversity and firms’ financial performance.

本文言語English
ページ(範囲)156-170
ページ数15
ジャーナルTeam Performance Management
23
3-4
DOI
出版ステータスPublished - 2017
外部発表はい

ASJC Scopus subject areas

  • 管理情報システム
  • 組織的行動および人的資源管理
  • 技術マネージメントおよび技術革新管理

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