公司绩效与高层管理团队的年龄、任期与学历：一个研究综述外文翻译.docVIP

外文翻译 Firm performance and top management team age, tenure, and education: a research synthesis Material Source: International Journal of Business Research . Author: Abhishek Srivastava, Hun Lee 1. Firm Performance And TMT Age, Tenure, And Education 1.1 Upper Echelons Theory Consistent with the upper echelons perspective, Hambrick and Mason (1984) argued that younger TMTs were less committed to the status quo and more willing to accept change. Several researchers have found that younger managers were more receptive toward risk-taking and pursuing more innovative growth strategies (Grimm Smith, 1991). Botwinick (1977) and Burke and Light (1981) argued that abilities in learning, reasoning, and memory decline with age. Bantel and Jackson (1989) argued that younger managers would have superior technical knowledge because of more recent educational experiences. Wiersema and Bantel (1992) found age was negatively related to strategic change. Therefore, we propose the following. Hypothesis 1 (a): Average age of TMT is negatively related to firm performance. Schwenk (1993) presented arguments on both sides, negative and positive, about the impact of TMT organizational tenure on performance. He argued that a team whose members have a longer tenure would be able to formulate more effective strategies because experience would result in deeper understanding of their company. On the flip side, Schwenk argued that executives with long tenure may develop strategies based on out-dated assumptions of the environment leading to poor performance. Finkelstein and Hambrick (1990) found support for a relationship between long organizational tenure and conformity to industry performance norms. Wiersema and Bantel (1992) found that short organizational tenure was positively related to strategic change. Bantel (1994) found that short organizational tenure was positively related to strategic planning openness. In summary, all