Centers of gravity: The effect of stable shared leadership in top management teams on firm growth and industry evolution
Centers of gravity: The effect of stable shared leadership in top management teams on firm growth and industry evolution
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DOI：
10.1002/smj.3048
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发表时间：
2020-03-01
影响因子：
8.3
通讯作者：
Ohyama, Atsushi
中科院分区：
文献类型：
--
作者：
Agarwal, Rajshree;Braguinsky, Serguey;Ohyama, Atsushi
本研究综合运用战略方法和历史方法，利用大量的企业层面的定量数据和详细的企业历史，对1883-1914年日本棉纺产业的演变过程中的企业成长过程进行了研究。由此产生的概念模型突出的路径依赖的增长结果，随着企业的发展跨越时期的单一与共享的领导，建立稳定的共享领导，或经验反复不和谐引起的高层管理团队（TMT）领导人离职。虽然大多数公司没有经历平稳过渡到稳定的TMT共享领导，但注重价值创造，结合人才招聘和晋升，使一些公司能够实现稳定的共享领导，尽管不和谐导致离职，从事长期扩张，成为“重力中心”我们证明了稳定的共享领导力是公司的根源，这些公司成为行业的重心，并占行业的核心地位。占产量的最大份额稳定的共享领导力可以实现人才招聘、产品多样化、下游整合和收购等增长战略。然而，稳定的共同领导是极难维持的。由于政治和权力斗争，大多数公司都经历了TMT的不和谐离职。偏离这一规范而成为行业领导者的公司通过坚持与长期价值创造相关的基本原则而不是短期收益，采用基于绩效的晋升制度而无视刻板印象，在TMT领导层内部分享权力以实现有效的劳动分工，以及光荣地解决冲突和道德违规行为，实现稳定的共同领导。
Research Summary We study the processes of firm growth in the evolution of the Japanese cotton spinning industry during 1883-1914 by integrating strategy and historical approaches and utilizing rich quantitative firm-level data and detailed business histories. The resultant conceptual model highlights growth outcomes of path dependencies as firms evolve across periods of single versus shared leadership, establish stability in shared leadership, or experience repeated discord-induced top management team (TMT) leader departures. While most firms do not experience smooth transitions to stable shared TMT leadership, a focus on value creation, in conjunction with talent recruitment and promotion, enabled some firms to achieve stable shared leadership despite discord-induced departures, engage in long-term expansion, and emerge as "centers of gravity" for output and talent in the industry.Managerial Summary We demonstrate stable shared leadership is at root of firms who emerge as centers of gravity in an industry and account for the lion's share of output. Stable shared leadership enables growth strategies such as talent recruitment, product diversification, downstream integration, and acquisitions. Stable shared leadership, however, is extremely difficult to maintain. Most firms experience discord-induced departures in TMTs due to politics and power struggles. Firms that deviate from this norm to become industry leaders achieve stable shared leadership by adhering to fundamental principles related to long-term value creation as opposed to short-term gain, adoption of merit-based promotion systems in defiance of stereotypes, sharing of power within TMT leadership to enable efficient division of labor, and honorable resolution of conflicts and ethical breaches.