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Top-Management-Team Tenure and Organizational Outcomes: The Moderating Role of Managerial Discretion

Sydney Finkelstein and Donald C. Hambrick
Administrative Science Quarterly
Vol. 35, No. 3 (Sep., 1990), pp. 484-503
DOI: 10.2307/2393314
Stable URL: http://www.jstor.org/stable/2393314
Page Count: 20
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Top-Management-Team Tenure and Organizational Outcomes: The Moderating Role of Managerial Discretion
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Abstract

Drawing on an upper-echelons framework to study the effects of top-management-team tenure and modeling managerial discretion as a moderating variable, this study examined the relationship between managerial tenure and such organizational outcomes as strategic persistence and conformity in strategy and performance with other firms in an industry. In a sample of 100 organizations in the computer, chemical, and natural-gas distribution industries, executive-team tenure was found to have a significant effect on strategy and performance, with long-tenured managerial teams following more persistent strategies, strategies that conformed to central tendencies of the industry, and exhibiting performance that closely adhered to industry averages. Consistent with the theory, results differed depending on the level of managerial discretion, with the strongest results occurring in contexts that allowed managers high discretion.

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