Top management team and corporate performance: a study of Greek firms

Abstract

Purpose – This paper seeks to explore the role that boards can play in the contribution of organizational performance and to empirically examine the relationship between the chairman, key board composition variables and firm performance.Design/methodology/approach – The data presented are drawn from a sample of 27 chairmen of Greek corporations listed in the Athens Stock Exchange (ASE). The authors examine hypothesized links between the demographic characteristics of the chairmen of the board, board composition variables, and organizational performance.Findings – The authors found a positive relationship between age and competitive positioning which indicates that, the older the chairperson, the better the competitive positioning. Amazingly, the relationship between age and overall firm performance was found to be negative, indicating that even if the chairperson is older and more experienced the possibly efficient performance of the firm does not depend on that.Research limitations/implications – The aut...