Abstract

Building on Hambrick and Mason’s (1984) seminal work, mountains of research have investigated the impact of top managers on their organization in terms of strategy and performance (Finkelstein, Hambrick & Cannella 2009). More recently, family firm researchers have adopted the upper echelons perspective to provide new insights into how family involvement in the top management team (TMT) affects the firm (Minichilli, Corbetta & MacMillan 2010). The overarching contribution of this stream of research has been a deeper understanding of family-TMT-involvement as a source of heterogeneity in family firms (Chua, Chrisman, Steier & Rau 2012).