GLASS BREAKING, STRATEGY MAKING, AND VALUE CREATING: META-ANALYTIC OUTCOMES OF WOMEN AS CEOs AND TMT MEMBERS

• 成果类型: Article
• 署名作者: Jeong, Seung-Hwan; Harrison, David A.
• 署名单位: University of Texas System; University of Texas Austin; University of Texas System; University of Texas Austin
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/amj.2014.0716
• 发表日期: 2017
• 页码: 1219-1252
• 关键词: TOP-MANAGEMENT-TEAM; DEEP-LEVEL DIVERSITY; FEMALE BOARD REPRESENTATION; FIRM PERFORMANCE EVIDENCE; SEX-ROLE STEREOTYPES; corporate governance; risk-taking; decision-making; financial performance; group polarization

摘要

We conduct a comprehensive synthesis of the research on how female representation in the upper echelons (i.e., top management teams and chief executive officer positions) might affect firm performance. To help resolve longstanding theoretical, empirical, and substantive debates, we present an integrative conceptual framework based on the overarching concepts of unique resource portfolios, team decision-processes, and role incongruence perceptions. We test predictions from this framework using meta-analytic techniques on a sample of 146 primary studies conducted in 33 different countries. We find that female representation in the upper echelons in general is positively and weakly related to forms of long-term financial performance, but negatively and weakly related to short-term stock market returns. We observe that reduced strategic risk-taking is a mediating mechanism that explains why financial performance is improved. We also show that financial performance improvements are accentuated in environmental and organizational contexts that provide greater decision latitude to executives. Finally, we discuss and provide preliminary tests for extending these effects to other stakeholders (corporate social performance) and different time intervals for performance.