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

IF 1.6 Q3 MANAGEMENT

Team Performance Management Pub Date : 2017-04-28 DOI:10.1108/TPM-06-2016-0027

Tomohiko Tanikawa, Soyeon Kim, Yuhee Jung

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引用次数: 30

Abstract

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.

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高层管理团队多样性与公司绩效:年龄函数的探索

目的基于社会情绪选择理论，构建并检验高管团队年龄多样性对企业财务绩效(净资产收益率(ROE)、资产收益率(ROA))的直接影响以及高管团队年龄多样性和高管团队平均年龄对企业财务绩效的交互影响的假设。设计/方法/方法本文提出了对韩国制造企业867名tmt进行定量研究的结果。采用多元层次回归分析对假设进行检验。结果发现，TMT年龄多样性对净资产收益率有显著负向主影响，对净资产收益率无显著负向主影响。研究还表明，当高管团队成员年龄相对较大时，高管团队年龄多样性与公司绩效之间的负相关关系减弱。首先，本研究将现有的以行业、环境等宏观因素为主的TMT研究进行了拓展，引入了TMT年龄多样性、TMT平均年龄等微观因素。其次，本文结合并扩展了以往以“属性”或“趋势”为主的TMT研究，考察了TMT年龄的分布属性(多样性)和集中趋势(平均)对企业财务绩效的交互作用。最后，本研究表明，社会情绪选择理论可能有助于解释TMT年龄多样性与公司财务绩效之间的联系。

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

Team Performance Management MANAGEMENT-

CiteScore

3.40

自引率

29.40%

发文量

期刊介绍： This international journal contributes to the successful implementation and development of work teams and team-based organizations by providing a forum for sharing experience and learning to stimulate thought and transfer of ideas. It seeks to bridge the gap between research and practice by publishing articles where the claims are evidence-based and the conclusions have practical value. Effective teams form the heart of every successful organization. But team management is one of the hardest challenges faced by managers.