Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models

Wu, Tungju; Wu, Yenchun Jim; Tsai, Hsientang; Li, Yibin

doi:10.3390/su9122265

Open AccessArticle

Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models

by

Tungju Wu

^1,2,

Yenchun Jim Wu

^3,4,*

,

Hsientang Tsai

⁵ and

Yibin Li

^1,2

¹

College of Business Administration, Huaqiao University, Quanzhou 362021, China

²

East Business Management Research Center, Huaqiao University, Quanzhou 362021, China

³

National Taiwan Normal University, Taipei 10645, Taiwan

⁴

National Taipei University of Education, Taipei 10671, Taiwan

⁵

Department of Business Management, National Sun Yat-sen University, Kaohsiung 80424, Taiwan

^*

Author to whom correspondence should be addressed.

Sustainability 2017, 9(12), 2265; https://doi.org/10.3390/su9122265

Submission received: 2 November 2017 / Revised: 5 December 2017 / Accepted: 5 December 2017 / Published: 7 December 2017

(This article belongs to the Special Issue Knowledge Management, Innovation and Big Data: Implications for Sustainability, Policy Making and Competitiveness)

Download

Browse Figure

Versions Notes

Abstract

Strategic decision-making is a key factor of sustainability and development in enterprises. Moreover, the top management team (TMT) of an enterprise constitutes the base for decision-making. This study employed structural equation modeling to analyze questionnaires regarding TMTs’ characteristics and strategic decision-making, and tested the mediating effects of risk perceptions and mental models and the moderating effects of psychological ownership. We investigated 289 valid questionnaires on TMTs completed by representatives from enterprises in China and found risk perceptions and mental models that serve as a mediating factor and are affected by the TMTs’ characteristics and decision-making. We also found that psychological ownership exerts moderating effects between TMTs’ characteristics and decision-making. This paper concludes with a discussion of theoretical and managerial implications for enterprise owners.

Keywords: top management team; strategic decision-making; risk perception

Share and Cite

MDPI and ACS Style

Wu, T.; Wu, Y.J.; Tsai, H.; Li, Y. Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models. Sustainability 2017, 9, 2265. https://doi.org/10.3390/su9122265

AMA Style

Wu T, Wu YJ, Tsai H, Li Y. Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models. Sustainability. 2017; 9(12):2265. https://doi.org/10.3390/su9122265

Chicago/Turabian Style

Wu, Tungju, Yenchun Jim Wu, Hsientang Tsai, and Yibin Li. 2017. "Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models" Sustainability 9, no. 12: 2265. https://doi.org/10.3390/su9122265

APA Style

Wu, T., Wu, Y. J., Tsai, H., & Li, Y. (2017). Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models. Sustainability, 9(12), 2265. https://doi.org/10.3390/su9122265

Note that from the first issue of 2016, this journal uses article numbers instead of page numbers. See further details here.

Article Menu

Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models

Abstract

Share and Cite

Article Metrics

Article Access Statistics

Further Information

Guidelines

MDPI Initiatives

Follow MDPI