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Top management team characteristics and decision-making nexus post-Brexit: Evidence from an international wealth management firm in Europe

Bryne, Ashley; Cai, Catherine; Kamasak, Rifat

Authors

Ashley Bryne

Catherine Cai Catherine.Cai@uwe.ac.uk
Senior Lecturer in Strategy and International Management

Rifat Kamasak



Contributors

Slimane Ed-dafali
Editor

Fahri Ă–zsungur
Editor

Muhammad Mohiuddin
Editor

Abstract

This chapter investigates an international wealth management firm, deVere's top management team composition, and the impact of their observable characteristics on strategic decision-making. Concurrently, the study also determines the significance of the composition of a top management team responding to Brexit regulatory changes. Due to its cultural ties and niche target market, Brexit is a significant event for the wealth management industry and deVere. Drawing on a qualitative approach, semi-structured interviews, and the embodiment of an interpretive perspective, we analysed the relationship between the top management characteristics and their effect on strategic decisions. Our findings indicated that international experience, age, risk-taking propensity, educational background, and cognitive diversity significantly impacted strategic decisions. Based on upper echelons theory, the study shed light on the mechanism linking top management team characteristics and strategic decision-making after Brexit.

Deposit Date Aug 9, 2024
Peer Reviewed Peer Reviewed
Book Title Modern Corporate Governance Strategies for Sustainable Value Creation
Chapter Number 6
ISBN 9798369367506
Keywords Upper echelons theory, decision-making, top management team, TMT diversity, qualitative study, wealth management industry, Brexit
Public URL https://uwe-repository.worktribe.com/output/12774363
Publisher URL https://www.igi-global.com/book/modern-corporate-governance-strategies-sustainable/345355
Contract Date Aug 7, 2024