Abstract
Drawing insights from competitive dynamics research, the upper-echelons perspective and social identity theory, we examine the impact of female influence in top management teams on firm competitive aggressiveness and the moderating effects of governance factors (boards and institutional investors) on the relationship. Our analyses of 36 pharmaceutical firms over an eleven-year period, involving 2,844 competitive actions reveal that female influence in a firm’s top management team is positively associated with the firm’s competitive aggressiveness. The relationship is weakened by two board governance mechanisms – director tenure and institutional ownership. Our study offers important theoretical implications to both the competitive dynamics literature and the research on top management teams.
Published Version
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