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Open AccessArticle

Does Diversity in Top Management Teams Contribute to Organizational Performance? The Response of the IBEX 35 Companies

Department of Economics and Business Administration, Campus El Ejido s/n 29071, University of Málaga, 29016 Málaga, Spain
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Soc. Sci. 2020, 9(4), 36; https://doi.org/10.3390/socsci9040036
Received: 12 February 2020 / Revised: 25 March 2020 / Accepted: 26 March 2020 / Published: 30 March 2020
(This article belongs to the Section Gender Studies)
This study contributes to the dissemination of the theoretical and empirical knowledge on the Upper Echelons Theory, considering training and demographic diversity in Top Management Teams (TMTs) as a unique feature of companies, in our case, the IBEX 35 companies. Based on the results, we can confirm that the inclusion of women in management teams positively influences the sales of a company and contributes to increasing financial results. Age and knowledge of two or more languages are important factors in achieving an increase in financial performance. From the point of view of business practice, the results obtained are useful for increasing knowledge of which TMT characteristics are valid, which allows for better results and the establishment of responsible organizational policies that promote the inclusion of gender diversity in TMTs. In addition, the results of this study indicate that the incorporation of members of other non-Spanish nationalities would constitute a distinctive feature of a company and would enrich it not only financially, but also culturally. View Full-Text
Keywords: diversity; top management team; upper echelons theory; organizational performance; IBEX 35 companies; net sales; EBITDA diversity; top management team; upper echelons theory; organizational performance; IBEX 35 companies; net sales; EBITDA
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Rodríguez-Fernández, M.; Gaspar-González, A.I.; Sánchez-Teba, E.M. Does Diversity in Top Management Teams Contribute to Organizational Performance? The Response of the IBEX 35 Companies. Soc. Sci. 2020, 9, 36.

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