TOP MANAGEMENT TEAM CHARACTERISTICS AND LIFE INSURER PERFORMANCE: DO TOP MANAGERS MAKE A DIFFERENCE? |
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| Authors: | Victor A Puleo Jr Dan Marlin |
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| Institution: | Assistant Professor of Finance and Insurance in the Department of Finance, Insurance, and Real Estate at Appalachian State University.;Assistant Professor in the Division of Management and Marketing University of Texas at San Antonio. |
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| Abstract: | Abstract: This study examines the impact of top management team characteristics on life insurer performance. The authors argue that greater social cohesion among team members makes it less likely that the insurer will be able to adapt to the changes that have characterized the U.S. life insurance industry over the past decade and will, therefore, be detrimental to performance. Our findings support this assertion and suggest that life insurers driven by more diversified top management teams outperform life insurers with more homogenous top management teams. |
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