UM
Top Management Team Surface-Level Diversity, Strategic Change, and Long-Term Firm Performance: A Mediated Model Investigation
Jie Wu1; Orlando C. Richard2; Xinhe Zhang1; Craig Macaulay3
2019-08
Source PublicationJournal of Leadership and Organizational Studies
ISSN1548-0518
Volume26Issue:3Pages:304-318
Abstract

Top management team (TMT) heterogeneity research has not yet clearly revealed whether surface-level diversity (i.e., national culture, gender, age) contributes to or detracts from a firm’s financial performance and has not focused on how strategic change frequency (number international diversification or refocusing activities) serves as an intervening mechanism. Based on a sample of 1,993 firms between 2003 and 2015, we examine the mediating role of strategic change frequency in the relationship between surface-level diversity and long-term firm performance. Grounded in the upper echelons perspective, we find that TMT surface-level diversity increases rather than decreases strategic change frequency. Furthermore, our results are consistent with our hypothesized positive relationship between strategic change frequency and long-term firm performance. More important, we also find support for a longitudinal-based mediation model in which strategic change frequency in terms of diversification/refocusing actions (Time 2) transmits the positive effect of TMT surface-level diversity (Time 1) to long-term financial performance (Time 3) without accounting for any moderated conditions suggesting that mediation models warrant more utilization in the upper echelons research and internationalization research domains. Implications for the upper echelons theory in a more global world as if relates to the often unexplored surface-level diversity are offered.

KeywordAge Diversity Gender Diversity Generational Differences International Diversification Mediated Models National Culture Diversity Strategic Change Top Management Team Heterogeneity
DOIhttps://doi.org/10.1177%2F1548051819848997
URLView the original
Indexed BySSCI
Language英语
WOS Research AreaBusiness & Economics
WOS SubjectManagement
WOS IDWOS:000474896800003
PublisherSAGE Publications Inc
Fulltext Access
Citation statistics
Cited Times [WOS]:6   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionUniversity of Macau
Corresponding AuthorJie Wu
Affiliation1.University of Macau, Taipa, Macau, China
2.The University of Texas at Dallas, Richardson, TX, USA
3.California State University–Long Beach, Long Beach, CA, USA
First Author AffilicationUniversity of Macau
Corresponding Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Jie Wu,Orlando C. Richard,Xinhe Zhang,et al. Top Management Team Surface-Level Diversity, Strategic Change, and Long-Term Firm Performance: A Mediated Model Investigation[J]. Journal of Leadership and Organizational Studies,2019,26(3):304-318.
APA Jie Wu,Orlando C. Richard,Xinhe Zhang,&Craig Macaulay.(2019).Top Management Team Surface-Level Diversity, Strategic Change, and Long-Term Firm Performance: A Mediated Model Investigation.Journal of Leadership and Organizational Studies,26(3),304-318.
MLA Jie Wu,et al."Top Management Team Surface-Level Diversity, Strategic Change, and Long-Term Firm Performance: A Mediated Model Investigation".Journal of Leadership and Organizational Studies 26.3(2019):304-318.
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