Continuity And Renewal At The Top: Performance Effects Of The Level, Extent, Type And Frequency Of Top Management Team Changes

This study examines performance effects of changes in the top management team using an eleven-year period longitudinal research design with a sample of 45 major Dutch multinationals. Since changes at the top are a multi-faceted phenomenon, we study the topic from four different angles. Results indicate that the level of change in terms of CEO versus non-CEO changes and the extent of change in terms of the proportion of managers entering or exiting the team do not influence subsequent firm performance. Type and frequency of change however do matter. Our results indicate that renewal of top management teams in terms of non-retirement exits and limited outside entries can be beneficial for firm performance in the following year, especially when exits and entries are well aligned. On the other hand, a certain degree of continuity is also warranted. Too many outside entries at the same time were found to be disadvantageous in the short-run, while many CEO successions in a row were found to be disadvantageous in the longer-run.management and organization theory ;

Europa tussen samenwerking en opportunisme : de internationale fusiepraktijk als voorbeeld voor Europese integratie

Niet aanwezig.international economics and trade ;

The national specificity of top management teams

The authors examine top management performance in modern corporations operating in market economies. They analyse the national differences between institutions of formal company management, the value and competence systems of top managers as well as prevailing decision making practices. In their view, there is a clear difference in the power and strategies of managerial teams, reflecting the market and company differences between countries

Shades of Culture and Institutions-in International Mergers

This article explores merger integration processes in the international context and the way in which the merged companies cope with difficulties emanating from firm-specific and nation-specific differences. The first part of the article discusses the consolidation process in general. Four factors are identified that define the significance of this process: (1) the degree of compatibility of adminis trative practices, management styles, organizational structures or organizational cultures; (2) the kind and degree of post-merger consolidation; (3) the extent to which parties value and want to retain their organizational integrity; (4) the nature of the relationship between the two organizations. In order to create a viable new organization it is argued that leadership, the symbolic reconstruction of a new identity, superordinate goals, and introducing multigroup memberships may reinforce integration. To illustrate the discussion, three case studies of large Dutch-German mergers are examined in the second part of the article. These cases show that leadership, an appropriate organizational structure, and compatibility of merger motives may be important facilitators in the merging process.</p

Shades of Culture and Institutions-in International Mergers

This article explores merger integration processes in the international context and the way in which the merged companies cope with difficulties emanating from firm-specific and nation-specific differences. The first part of the article discusses the consolidation process in general. Four factors are identified that define the significance of this process: (1) the degree of compatibility of adminis trative practices, management styles, organizational structures or organizational cultures; (2) the kind and degree of post-merger consolidation; (3) the extent to which parties value and want to retain their organizational integrity; (4) the nature of the relationship between the two organizations. In order to create a viable new organization it is argued that leadership, the symbolic reconstruction of a new identity, superordinate goals, and introducing multigroup memberships may reinforce integration. To illustrate the discussion, three case studies of large Dutch-German mergers are examined in the second part of the article. These cases show that leadership, an appropriate organizational structure, and compatibility of merger motives may be important facilitators in the merging process.</p

Culture and integretion problems in international mergers and acquitions

International mergers and acquisitions frequently fail in the integration phase, with cultural differences a major contributory factor. With reference to many European examples of M and As, René Olie of Limburg University explores various obstacles to merger success and develops a dynamic model of merger stability. He concludes that the successful integration of an international merger is a very long process which is assisted by a sense of parity and common management programs, tasks and goals.</p

Culture and integretion problems in international mergers and acquitions

International mergers and acquisitions frequently fail in the integration phase, with cultural differences a major contributory factor. With reference to many European examples of M and As, René Olie of Limburg University explores various obstacles to merger success and develops a dynamic model of merger stability. He concludes that the successful integration of an international merger is a very long process which is assisted by a sense of parity and common management programs, tasks and goals.</p

Culture and integretion problems in international mergers and acquitions

International mergers and acquisitions frequently fail in the integration phase, with cultural differences a major contributory factor. With reference to many European examples of M and As, René Olie of Limburg University explores various obstacles to merger success and develops a dynamic model of merger stability. He concludes that the successful integration of an international merger is a very long process which is assisted by a sense of parity and common management programs, tasks and goals.

TOP MANAGEMENT TEAMS IN THEIR NATIONAL CONTEXT

Since the mid-1980s, much research attention has been devoted to top management teams and their impact on the strategic behavior and performance of firms. In particular, this research has focused on the role of top managers' background, values, and experiences in explaining the choices they make. So far, this research has largely failed to address the national context in which top management teams are formed and operate. Empirical studies have typically involved top management teams of U.S. firms. Other studies are rare, and when they exist, they usually do not take the national context into account. This paper explores the impact of national context characterized by society-specific value systems and institutions, on the composition, organization, and functioning of top management. We address three topics in particular: (1) national variations in the structure and practices of top management and their implications for managerial choices; (2) national governance systems that define and constrain the tasks and functioning of top management teams; and (3) national institutions that help to define managerial selection, promotion, and career patterns.</p

TOP MANAGEMENT TEAMS IN THEIR NATIONAL CONTEXT

Since the mid-1980s, much research attention has been devoted to top management teams and their impact on the strategic behavior and performance of firms. In particular, this research has focused on the role of top managers' background, values, and experiences in explaining the choices they make. So far, this research has largely failed to address the national context in which top management teams are formed and operate. Empirical studies have typically involved top management teams of U.S. firms. Other studies are rare, and when they exist, they usually do not take the national context into account. This paper explores the impact of national context characterized by society-specific value systems and institutions, on the composition, organization, and functioning of top management. We address three topics in particular: (1) national variations in the structure and practices of top management and their implications for managerial choices; (2) national governance systems that define and constrain the tasks and functioning of top management teams; and (3) national institutions that help to define managerial selection, promotion, and career patterns.</p