Functional Background Diversity of Top Management Team and Managerial Forecasting Capability

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-07-01 DOI:10.2308/jmar-2022-063

Bozi Liu, Dana Zhang

引用次数: 0

Abstract

This study examines whether top management team (TMT) functional background diversity affects managerial forecasting capability. We find that TMTs with more diverse functional backgrounds issue more accurate earnings forecasts. Additional tests reveal that the negative association between TMT functional background diversity and management forecast errors becomes weaker when TMTs work together for a long time, when subgroups are more likely to develop within the team, when CEOs are more powerful, and when team size is larger. By contrast, the reduction in management forecast errors is more significant for functionally diverse TMTs when forecasting difficulty is higher. These findings suggest that TMT functional background diversity plays an important role in managerial forecasting capability. Data Availability: Data are available from the sources cited in the text. JEL Classifications: M14; M41.

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高层管理团队的职能背景多样性与管理预测能力

本研究探讨了高层管理团队（TMT）职能背景多样性是否会影响管理预测能力。我们发现，职能背景更多元化的 TMT 发布的盈利预测更准确。其他测试表明，当高层管理团队合作时间较长、团队内部更有可能形成亚群体、首席执行官权力较大以及团队规模较大时，高层管理团队职能背景多样性与管理预测误差之间的负相关关系会变弱。相比之下，当预测难度较高时，对于职能多元化的 TMT 来说，管理层预测误差的减少更为显著。这些发现表明，TMT 职能背景多样性在管理预测能力方面发挥着重要作用。数据可用性：数据可从文中引用的来源获得。JEL 分类：M14; M41.

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.