35,132 research outputs found
The Influence of Top Management TeamââŹâ˘s Corporate Governance Orientation on Strategic Renewal Trajectories
Using the upper echelons perspective together with corporate governance and strategic renewal literature, this paper investigates how top managersââŹâ˘ corporate governance orientation influences a firmââŹâ˘s strategic renewal trajectories over time. Through both a qualitative analysis (1907-2004) and a quantitative analysis (1959-2004), we investigate this under-researched question within the context of a large incumbent firm: Royal Dutch Shell plc. Our results indicate that top managers having an Anglo-Saxon corporate governance orientation are more likely to pursue exploitative and external-growth strategic renewal trajectories, while those having a Rhine corporate governance orientation are more likely to pursue exploratory and internal-growth strategic renewal trajectories. We also found a positive moderating effect of the proportion of shareholders from the Anglo-Saxon countries on exploitative and external-growth strategic renewal trajectories. Our findings indicate that top managersââŹâ˘ corporate governance orientation can be an important antecedent of strategic renewal and of organisational ambidexterity, both of which influence corporate longevity.corporate governance;strategic renewal;exploitation and exploration;Royal Dutch Shell;top management team;upper echelons perspective
Pengaruh Upper Echelons Ties terhadap IPO Underpricing
This study aims to prove empirically whether upper echelons ties affect IPO underpricing. The data used is this research are secondary data. The population in this research are companies that conduct IPOs on the Indonesia Stock Exchange. The sampling technique used is the purposive sampling method. Hypothesis testing is done by Mann Whitney U Tests. The results of this research indicate that there is no significant underpricing difference between companies that have upper echelons ties and companies that do not have upper echelons ties. So it can be concluded that the alternative hypothesis, namely the upper echelons ties affect the IPO underpricing, is rejected.
Keywords: Initial Public Offering (IPO), Underpricing, and Upper Echelons Ties
CEO Hometown Identity and Firm Green Innovation
Drawn on the upper echelons theory, this study investigates how chief executive officer (CEO) hometown identity drives firm green innovation. We propose that CEO hometown identity has a positive impact on a firm's green innovation performance. Furthermore, we explore the moderating role of managerial discretion determined by organizational and environmental factors (i.e., institutional ownership and market complexity). We propose that institutional ownership negatively moderates the positive relationship between CEO hometown identity and green innovation, but market complexity plays a positive moderating role. Using Chinese publicly listed firms from 2002 to 2016 in heavily polluting industries, our findings support these hypotheses. Our research contributes to the upper echelons theory and corporate social responsibility literature and has substantial practical implications
Undoing GODâs work? gains made by women at the top of whitehall may prove short-lived
Jill Rutter discusses the state of womenâs representation in the upper echelons of the UK civil service, noting that positive developments under the previous government may now be reversing
CSR website disclosure : the influence of the upper echelons
Purpose Using upper echelons theory (UET), the purpose of this paper is to unravel the influence of a CEO's ethical ideology on the presence of corporate social responsibility (CSR) disclosure on corporate websites. It also considers the CEO's perception of the importance of CSR (i.e. the extent of the CEO's detachment from the stockholder-oriented logic and attachment to the stakeholder-oriented logic).
Design/methodology/approach First, a survey was sent to CEOs of large unlisted Belgian companies. Its intention was to assess CEOs' ethical ideology along the idealism and relativism dimensions and their perceptions on the importance of CSR (PRESOR-detachment-from-stockholder view; PRESOR-attachment-to-stakeholder view), and to gather some demographics. Second, a content analysis of corporate websites was conducted so as to classify companies as being either CSR disclosing or non-disclosing. Third, the annual accounts of these corporations were investigated and follow-up phone calls were conducted to obtain data on managerial discretion (MD).
Findings CEOs' ethical ideology influences the degree to which they detach from the stockholder-oriented logic and attach to the stakeholder-oriented logic. Moreover, when MD is high, the degree of these CEOs' attachment to the stakeholder-oriented logic is the factor that influences the presence of CSR disclosure on their corporate websites. Finally, CEO's idealism indirectly influences the presence of CSR disclosure through the effect of idealism on the degree to which CEOs attach to the stakeholder-oriented logic.
Originality/value This paper shows that, when MD is high, CEOs' values and perceptions influence CSR disclosure decisions. This study thereby enhances our knowledge regarding the internal drivers of CSR disclosure practices and offers UET as a lens through which the importance of CEOs' personal characteristics in the decision-making process might be further explored
Does diversity in top management teams contribute to organizational performance? The response of IBEX 35 companies
This study contributes to the spread of theoretical and empirical knowledge regarding the Upper Echelons Theory, considering the training and demographic diversity in the Top Management Team (TMT) as a singular characteristic of each company, in our case those belonging to the IBEX35 index. Taking into account the skills of the members, a greater financial performance is expected. Once we obtained the statistical results, we concluded that the inclusion of women in the TMT increased Net Sales and EBITDA. Features such as age, training and nationality are also examined in this work.Universidad de MĂĄlaga. Campus de Excelencia Internacional AndalucĂa Tech
Manager Characteristics and SMEs' Restructuring Decisions: In-Court vs. Out-of-Court Restructuring
This study aims to empirically investigate the impact of managers'
characteristics on their choice between in-court and out-of-court
restructuring. Based on the theory of upper echelons, we tested the preferences
of 342 managers of financially distressed French firms regarding restructuring
decisions. The overall findings of this study provide empirical support for the
upper echelons theory. Specifically, managers with a long tenure and those with
a high level of education are less likely to restructure before the court and
are more likely to restructure privately. The findings also indicate that
managers' age and gender do not significantly affect their choice between
in-court and out-of-court restructuring. This study contributes to the
literature on bankruptcy and corporate restructuring by turning the focus from
firm characteristics to manager characteristics to explain restructuring
decisions
An upper echelons perspective on information technology business value
This paper argues that information technology (IT) outcomes are more valuable to companies when their top management team (TMT) moves from flirting with IT to marriage. Previous research has demonstrated an association between top management support (TMS) and IT value. We extend the concept of TMS with the imbrication metaphor to define the construct of TMT-IT imbrication, which allows us to account for a tighter and continuous entwining of the TMT and IT to create IT value. Our definition of the TMT-IT imbrication construct embraces four dimensions: involvement, participation, attention, and use. In addition, with the support of upper echelons (UE) theory, we explore certain managerial traits, competences, and team processes that may be antecedents of this imbrication. As a result, our work provides a variance model and various propositions rooted in the logic of UE that contribute to research on IT business value
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