| This dissertation examined the relationship between top management team (TMT) demographic characteristics and firm performance. The study addressed four key TMT demographic characteristics in their relationship with firm performance: age, functional background, educational field, and team tenure. The study extended research on the TMT by explicitly introducing team performance as a new context measured in the form of International Risk Management Factor, in addition to demographic characteristic effects.;Drawing upon both organizational demographic theory and upper echelon theory, our study proposed that top management team demographic characteristics are positively associated with firm performance. This dissertation addresses several questions about the relationship between different TMT demographic characteristics and firm performance: Is there any relationship between top management team demographic composition and firm performance? If yes, what would be the direction of these relationships? Does team performance as measured by International Risk Management Factor moderate these relationships? Which firm performance measure is more suitable to reflect these relationships, market measure or accounting measure?;The dissertation examined a moderating variable, International Risk Management Factor, which represents team performance as a context that is likely to influence the relationships tested. International Risk Management Factor was developed based on Miller's multiple international risks trading off theory. In order to calculate that factor International Risk Management Index was introduced.;Using a sample of 354 firms, including 4009 executives, eight hypotheses were tested. The hypotheses were tested using multiple regression analysis. The findings support the proposition that top management team is an appropriate unit of study, due to its impact on firm performance. The results indicate that there is a significant correlation between TMT demographic characteristics and firm performance, both in statistical and economic terms.;In answering the questions, our study concluded that three of the proposed four TMT demographic characteristics, influence firm performance. Results validate the proposition that TMT demographic characteristics show a significant positive correlation with firm performance, particularly when the accounting measure is applied.*.;*This dissertation is multimedia (contains text and other applications not available in printed format). The CD requires the following system requirements: PowerPoint. |
