IDEAS home Printed from https://ideas.repec.org/a/bla/rmgtin/v2y1998i1p24-36.html
   My bibliography  Save this article

Top Management Team Characteristics And Life Insurer Performance: Do Top Managers Make A Difference?

Author

Listed:
  • Victor A. Puleo
  • Dan Marlin

Abstract

This study examines the impact of top management team characteristics on life insurer performance. The authors argue that greater social cohesion among team members makes it less likely that the insurer will be able to adapt to the changes that have characterized the U.S. life insurance industry over the past decade and will, therefore, be detrimental to performance. Our findings support this assertion and suggest that life insurers driven by more diversified top management teams outperform life insurers with more homogenous top management teams.

Suggested Citation

  • Victor A. Puleo & Dan Marlin, 1998. "Top Management Team Characteristics And Life Insurer Performance: Do Top Managers Make A Difference?," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 2(1), pages 24-36, July.
    • Handle: RePEc:bla:rmgtin:v:2:y:1998:i:1:p:24-36
    DOI: j.1540-6296.1998.tb00080.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1540-6296.1998.tb00080.x
    Download Restriction: no
    File URL: https://libkey.io/j.1540-6296.1998.tb00080.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Kellner, S & Mathewson, G Frank, 1983. "Entry, Size Distribution, Scale, and Scope Economies in the Life Insurance Industry," The Journal of Business, University of Chicago Press, vol. 56(1), pages 25-44, January.
    2. Mayers, David & Smith, Clifford W, Jr, 1992. "Executive Compensation in the Life Insurance Industry," The Journal of Business, University of Chicago Press, vol. 65(1), pages 51-74, January.
    3. Karen A. Bantel & Susan E. Jackson, 1989. "Top management and innovations in banking: Does the composition of the top team make a difference?," Strategic Management Journal, Wiley Blackwell, vol. 10(S1), pages 107-124, June.
    4. Michael A. Hitt & R. Duane Ireland, 1985. "Corporate distinctive competence, strategy, industry and performance," Strategic Management Journal, Wiley Blackwell, vol. 6(3), pages 273-293, July.
    5. Houston, David B & Simon, Richard M, 1970. "Economies of Scale in Financial Institutions: A Study in Life Insurance," Econometrica, Econometric Society, vol. 38(6), pages 856-864, November.
    6. Kroll, Mark & Wright, Peter & Theerathorn, Pochera, 1993. "Whose interests do hired top managers pursue? An examination of select mutual and stock life insurers," Journal of Business Research, Elsevier, vol. 26(2), pages 133-148, February.
    7. Michael A. Hitt & Beverly B. Tyler, 1991. "Strategic decision models: Integrating different perspectives," Strategic Management Journal, Wiley Blackwell, vol. 12(5), pages 327-351, July.
    8. Jane E. Dutton & Robert B. Duncan, 1987. "The creation of momentum for change through the process of strategic issue diagnosis," Strategic Management Journal, Wiley Blackwell, vol. 8(3), pages 279-295, May.
    9. David Norburn & Sue Birley, 1988. "The top management team and corporate performance," Strategic Management Journal, Wiley Blackwell, vol. 9(3), pages 225-237, May.
    10. J. G. Wissema & H. W. van der Pol & H. M. Messer, 1980. "Strategic management archetypes," Strategic Management Journal, Wiley Blackwell, vol. 1(1), pages 37-47, January.
    11. Alan I. Murray, 1989. "Top management group heterogeneity and firm performance," Strategic Management Journal, Wiley Blackwell, vol. 10(S1), pages 125-141, June.
    12. Michael J. McNamara, 1991. "An Examination of the Relative Efficiency of Mutual and Stock Life Insurance Companies," Journal of Insurance Issues, Western Risk and Insurance Association, vol. 14(1), pages 13-30.
    13. John Child, 1974. "Managerial And Organizational Factors Associated With Company Performance Part I," Journal of Management Studies, Wiley Blackwell, vol. 11(3), pages 175-189, October.
    14. C. K. Prahalad & Richard A. Bettis, 1986. "The dominant logic: A new linkage between diversity and performance," Strategic Management Journal, Wiley Blackwell, vol. 7(6), pages 485-501, November.
    15. Charles R. Schwenk, 1984. "Cognitive simplification processes in strategic decision‐making," Strategic Management Journal, Wiley Blackwell, vol. 5(2), pages 111-128, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Monica A. Zimmerman, 2008. "The Influence of Top Management Team Heterogeneity on the Capital Raised through an Initial Public Offering," Entrepreneurship Theory and Practice, , vol. 32(3), pages 391-414, May.
    2. van Olffen, W. & Boone, C.A.J.J., 1997. "The confusing state of the art in top management composition studies: A theoretical and empirical review," Research Memorandum 011, Maastricht University, Netherlands Institute of Business Organization and Strategy Research (NIBOR).
    3. Sitthipongpanich, Thitima & Polsiri, Piruna, 2015. "Do CEO and board characteristics matter? A study of Thai family firms," Journal of Family Business Strategy, Elsevier, vol. 6(2), pages 119-129.
    4. Sonja Sperber & Christian Linder, 2018. "The impact of top management teams on firm innovativeness: a configurational analysis of demographic characteristics, leadership style and team power distribution," Review of Managerial Science, Springer, vol. 12(1), pages 285-316, January.
    5. Krishnan, Hema A. & Park, Daewoo, 2005. "A few good women--on top management teams," Journal of Business Research, Elsevier, vol. 58(12), pages 1712-1720, December.
    6. Anisya S. Thomas & Kannan Ramaswamy, 1994. "Matching Managers to Strategy: An Investigation of Perfor Mance Implications and Boundary Conditions," Australian Journal of Management, Australian School of Business, vol. 19(1), pages 73-93, June.
    7. Theresa S. Cho & Donald C. Hambrick, 2006. "Attention as the Mediator Between Top Management Team Characteristics and Strategic Change: The Case of Airline Deregulation," Organization Science, INFORMS, vol. 17(4), pages 453-469, August.
    8. Rivas, Jose Luis, 2012. "Diversity & internationalization: The case of boards and TMT's," International Business Review, Elsevier, vol. 21(1), pages 1-12.
    9. Naranjo-Gil, David & Hartmann, Frank, 2007. "Management accounting systems, top management team heterogeneity and strategic change," Accounting, Organizations and Society, Elsevier, vol. 32(7-8), pages 735-756.
    10. Thomas Hutzschenreuter & Julian Horstkotte, 2013. "Performance effects of top management team demographic faultlines in the process of product diversification," Strategic Management Journal, Wiley Blackwell, vol. 34(6), pages 704-726, June.
    11. Deniz Ucbasaran & Andy Lockett & Mike Wright & Paul Westhead, 2003. "Entrepreneurial Founder Teams: Factors Associated with Member Entry and Exit," Entrepreneurship Theory and Practice, , vol. 28(2), pages 107-128, March.
    12. Xin Huang & Koichi Nakagawa & Jie Li, 2017. "Effects of Top Management Team Characteristics on Corporate Charitable Activities: Evidence from the Board for Small and Medium-sized Enterprises in China," Discussion Papers in Economics and Business 17-30, Osaka University, Graduate School of Economics.
    13. Lisa Schurer Lambert, 2000. "… And not a drop to drink: an integrated model of ethics and strategic issue diagnosis," Business Strategy and the Environment, Wiley Blackwell, vol. 9(5), pages 318-327, September.
    14. Saerom Lee & Felipe A. Csaszar, 2020. "Cognitive and Structural Antecedents of Innovation: A Large-Sample Study," Strategy Science, INFORMS, vol. 5(2), pages 71-97, June.
    15. Anna Nadolska & Harry G. Barkema, 2014. "Good learners: How top management teams affect the success and frequency of acquisitions," Strategic Management Journal, Wiley Blackwell, vol. 35(10), pages 1483-1507, October.
    16. Talavera, Oleksandr & Yin, Shuxing & Zhang, Mao, 2018. "Age diversity, directors' personal values, and bank performance," International Review of Financial Analysis, Elsevier, vol. 55(C), pages 60-79.
    17. Juan Pablo Diánez-González & Carmen Camelo-Ordaz, 2016. "How management team composition affects academic spin-offs’ entrepreneurial orientation: the mediating role of conflict," The Journal of Technology Transfer, Springer, vol. 41(3), pages 530-557, June.
    18. Vincent L. Barker , III & George C. Mueller, 2002. "CEO Characteristics and Firm R&D Spending," Management Science, INFORMS, vol. 48(6), pages 782-801, June.
    19. Neeraj Gupta & Jitendra Mahakud, 2020. "CEO characteristics and bank performance: evidence from India," Managerial Auditing Journal, Emerald Group Publishing Limited, vol. 35(8), pages 1057-1093, August.
    20. Rai Niharika, 2004. "Environmental Scanning in High Velocity Environment," IIMA Working Papers WP2004-05-04, Indian Institute of Management Ahmedabad, Research and Publication Department.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:rmgtin:v:2:y:1998:i:1:p:24-36. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=1098-1616 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.