haku: @author D'Aveni, R.A. / yhteensä: 3
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| Tekijä: | Hambrick, D.C. D'Aveni, R.A. |
| Otsikko: | Top team deterioration as part of the downward spiral of large corporate bankruptcies |
| Lehti: | Management Science
1992 : OCT, VOL. 38:10, p.1445-1466 |
| Asiasana: | BANKRUPTCY LARGE BUSINESSES TOP MANAGEMENT TEAM WORK |
| Kieli: | eng |
| Tiivistelmä: | A study of 57 large bankcruptcies and 57 matched survivors is presented for the examination of the top management team (TMT) characteristics associated with major corporate failure. Not only did the failing firms show significant annual or cross-sectional divergence from survivors on several indicators of TMT composition, but also those divergences became more pronounced over the last five years of the bankrupts` lives. The results thus suggest that deterioration of the TMT is a central element of the downward spiral of large corporate failures. Based upon a test of causality, the authors propose that a two-way process is at work: TMT deficiencies bring about corporate deterioration, and this latter brings about TMT deterioration. |
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