How does top management team diversity influence firm performance? A causal complexity analysis

This research investigates the correlation between the diversity background of top management team (TMT) and firm performance. We target gender diversity and cultural diversity and also explore the interplay between TMT diversity attributes and other TMT conventional compositions and their effects on organization performance. Incorporating four dimensions into this analysis under TMT conventional compositions such as TMT tenure, TMT network, TMT scale, and TMT age, this paper utilizes the OSIRIS database to obtain a dataset of 442 U.S.-listed companies in the information technology field. The research adopts multiple regression analysis to examine the proposed hypotheses and applies fuzzy-set qualitative comparative analysis (fsQCA) to figure out the optimal combinations between top management team diversities and conventional compositions in order to achieve better firm performance.