Abstract
The role of top managers on firm performance is central to strategic management. Mainly addressed from two different perspectives, the upper echelons theory and the agency theory, prior research has found that top managers enhance firm performance by accelerating decision-making and fostering capabilities building. However, the nature and essence of the influence of top managers over firm performance is still unknown. Based on an international sample of 62 project- based firms, this paper address the question of how do top managers influence project, portfolio and firm performance. Results of our structural equation model show that the relationship between top managers and project, portfolio and firm performance is mediated by dynamic capabilities building. Thus, the building of dynamic capabilities both at the project and portfolio level appears as the generative mechanism for top managers’ influence over firm performance.
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