The purpose of this paper is to establish the effect of top management team (TMT) cultural diversity on firm performance with a framework that considers such an effect from both cost and benefit perspectives. The paper also examines whether and how diversity management mechanisms such as socialisation and tenure may moderate the effect of TMT diversity on firm performance.,Drawing upon two competing perspectives of resource-based view (RBV) and transaction cost economics (TCE), this paper theorises and tests the potential positive and negative effects of TMT cultural diversity on firm performance with 442 publicly listed IT companies in the USA.,The results supported the RBV prediction that TMT cultural diversity enhances firm performance and socialisation strengthens the positive effects of a culturally diverse TMT on firm performance. However, tenure was not found to be important in promoting diversity gains or mitigating diversity costs. By showing clear support for the RBV prediction of the positive impact of TMT cultural diversity and refuting the TCE prediction of the potentially negative effects, this research strengthens the business case for embracing cultural diversity in TMTs.,This paper contributes to the current literature by developing a more balanced framework to deepen our knowledge of how TMT cultural diversity may impact firm performance, and how the use of socialisation and tenure may moderate the TMT cultural diversity–firm performance relationship from both cost and benefit perspectives.

中文翻译：

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TMT的文化多样性对公司业绩有贡献吗？社会化和任期重要吗？两种竞争观点的检验

本文的目的是建立一个高层管理团队（TMT）文化多样性对公司绩效的影响，其框架应从成本和收益两个角度考虑这种影响。本文还研究了社会化和终身制等多样性管理机制是否以及如何缓解TMT多样性对公司绩效的影响。借鉴资源基础观点（RBV）和交易成本经济学（TCE）这两种相互竞争的观点，本文对美国的442家公开上市的IT公司进行了理论分析，并测试了TMT文化多样性对公司绩效的潜在正面和负面影响。结果支持RBV的预测，TMT文化多样性可提高公司绩效，而社会化则可增强文化多样性的正面影响TMT对公司业绩的影响。然而，人们认为，保有权在促进多样性获得或减轻多样性成本方面不重要。通过为RBV预测TMT文化多样性的积极影响提供明确支持，并驳斥TCE对潜在的负面影响的预测，这项研究加强了在TMT中拥抱文化多样性的商业案例。一个更加平衡的框架，以加深我们对TMT文化多样性如何影响公司绩效以及社会化和权属使用如何从成本和收益两个角度缓解TMT文化多样性与公司绩效关系的知识。