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Top Management Team Turnover as an Adaptation Mechanism: The Role of the Environment

Margarethe F. Wiersema and Karen A. Bantel
Strategic Management Journal
Vol. 14, No. 7 (Oct., 1993), pp. 485-504
Published by: Wiley
Stable URL: http://www.jstor.org/stable/2486714
Page Count: 20
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Top Management Team Turnover as an Adaptation Mechanism: The Role of the Environment
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Abstract

Based on an organizational adaptation framework, this study examines the influence of three environmental dimensions-munificence, stability, and complexity-on top management team turnover. In addition to investigating the direct influence of these environmental dimensions, indirect effects through firm performance and strategic change are also examined; the indirect effect of environmental complexity through demographic heterogeneity is also studied. Path analysis indicates that the direct effects of the three environmental dimensions predominate. Indirect effects were nonsignificant except for the effect of instability and munificence through strategic change. By expanding the team turnover context to include environmental and strategic dimensions, in addition to previously examined performance and heterogeneity factors, this study enhances our understanding of managerial turnover as a form of organizational adaptation.

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