In this paper, we aim to bridge the micro-macro divide by addressing continued calls from strategic leadership and affect researchers to examine the black box to consider how CEO characteristics relate to top management team (TMT) affective experiences, and, in turn firm outcomes. We further consider the role of one key contextual factor in this relationship: TMT heterogeneity. We predict that CEO personality, specifically, emotional stability, is positively associated with TMT affective tone. Moreover, we posit that the relationship between TMT affective tone and firm performance depends on TMT task-related heterogeneity, such that positive affective tone benefits firm performance in heterogeneous TMTs, whereas negative affective tone benefits firm performance in homogeneous TMTs. Using a novel methodology that measures key psychological aspects of the CEO and TMT, we examined 50 TMTs from publicly-traded companies to test our predictions. Our findings offer theoretical contributions to the strategic leadership, affect and diversity literatures as well as managerial applications for CEO selection and management and managing diversity in upper echelons.

在本文中，我们的目标是通过解决战略领导层的持续呼吁和影响研究人员来弥合微观宏观鸿沟，以检查黑匣子以考虑 CEO 特征如何与高层管理团队 (TMT) 情感体验相关，进而与公司成果相关联. 我们进一步考虑了一个关键背景因素在这种关系中的作用：TMT 异质性。我们预测 CEO 的性格，特别是情绪稳定性，与 TMT 的情感基调呈正相关。此外，我们假设 TMT 情感基调与企业绩效之间的关系取决于与 TMT 任务相关的异质性，即积极的情感基调有利于异质 TMT 的企业绩效，而消极的情感基调有利于同质 TMT 的企业绩效。使用一种衡量 CEO 和 TMT 关键心理方面的新方法，我们检查了来自上市公司的 50 个 TMT，以检验我们的预测。我们的研究结果为战略领导力、情感和多样性文献以及 CEO 选择和管理以及高层管理多样性管理的管理应用提供了理论贡献。