%0 Journal Article
%T CEO Power and Top Management Team Tenure Diversity: Implications for Firm Performance
%A Tomohiko Tanikawa
%A Yuhee Jung
%J Journal of Leadership & Organizational Studies
%@ 1939-7089
%D 2019
%R 10.1177/1548051818789371
%X Using agency theory, we explore how the CEO (as principal) and the top management team (TMT) members (as agents) interactively influence the performance of a firm. By adding performance feedback theory into agency relations, we investigate whether the interactive effect of CEO¨CTMT relations on firm performance differs when past firm performance is either poor or strong. Using a sample of 115 Japanese firms, our results show that the interactive effect of CEO power and TMT tenure diversity on firm performance is positive in a situation of poor past firm performance. However, in a situation of strong past firm performance, the opposite result is found. These findings imply that CEO power might play a significant role in enhancing the effectiveness of TMT diversity on firm performance when past firm performance is poor
%K top management team
%K tenure diversity
%K CEO power
%K past firm performance
%U https://journals.sagepub.com/doi/full/10.1177/1548051818789371