Abstract
In this study we use survey data to examine the influence of two intangible resources, top management team (TMT) prestige and organizational legitimacy, on investor perceptions of a firm's future financial performance and future financial performance risk. Results show that investors' general perceptions of TMT prestige and organizational legitimacy are associated with their perceptions of future financial performance. We also find that organizational legitimacy partially mediates the relationship between TMT prestige and firm financial performance. We find no such effects when examining investor perceptions of future financial performance risk.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 461-477 |
| Number of pages | 17 |
| Journal | Journal of Managerial Issues |
| Volume | 19 |
| Issue number | 4 |
| State | Published - Dec 2007 |
| Externally published | Yes |
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ASJC Scopus subject areas
- Management Information Systems
Cite this
Top management team prestige and organizational legitimacy : An examination of investor perceptions. / Certo, Samuel; Hodge, Frank.
In: Journal of Managerial Issues, Vol. 19, No. 4, 12.2007, p. 461-477.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Top management team prestige and organizational legitimacy
T2 - An examination of investor perceptions
AU - Certo, Samuel
AU - Hodge, Frank
PY - 2007/12
Y1 - 2007/12
N2 - In this study we use survey data to examine the influence of two intangible resources, top management team (TMT) prestige and organizational legitimacy, on investor perceptions of a firm's future financial performance and future financial performance risk. Results show that investors' general perceptions of TMT prestige and organizational legitimacy are associated with their perceptions of future financial performance. We also find that organizational legitimacy partially mediates the relationship between TMT prestige and firm financial performance. We find no such effects when examining investor perceptions of future financial performance risk.
AB - In this study we use survey data to examine the influence of two intangible resources, top management team (TMT) prestige and organizational legitimacy, on investor perceptions of a firm's future financial performance and future financial performance risk. Results show that investors' general perceptions of TMT prestige and organizational legitimacy are associated with their perceptions of future financial performance. We also find that organizational legitimacy partially mediates the relationship between TMT prestige and firm financial performance. We find no such effects when examining investor perceptions of future financial performance risk.
UR - http://www.scopus.com/inward/record.url?scp=38349183632&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=38349183632&partnerID=8YFLogxK
M3 - Article
VL - 19
SP - 461
EP - 477
JO - Journal of Managerial Issues
JF - Journal of Managerial Issues
SN - 1045-3695
IS - 4
ER -