Attention as the Mediator Between Top Management Team Characteristics and Strategic Change: The Case of Airline Deregulation

Authors:
Theresa S. Cho;Donald C. Hambrick
Affiliations:
Rutgers Business School, Rutgers University, Janice Levin Building, Piscataway, New Jersey 08854;Smeal College of Business Administration, Pennsylvania State University, 414 Business Building, University Park, Pennsylvania 16802-1914
Venue:
Organization Science
Year:
2006

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Abstract

We integrate the upper-echelons perspective with the attention-based view of the firm by examining the role of attentional orientation of top management teams (TMTs). In the context of airline deregulation, we find that deregulation caused a shift in managerial attention, but that this shift in attention was the greatest for firms that changed the composition and compensation of their TMTs in ways that favored the deregulated regime. We also find that attention partially mediated the relationship between TMT changes and strategy changes. The results of this study shed light on the transformation of industry attention patterns following an environmental shift, and the role of TMT composition and incentive systems in that process.