Please use this identifier to cite or link to this item: https://hdl.handle.net/2440/97325
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Type: Journal article
Title: Interlocks and firm performance: The role of uncertainty in the directorate interlock-performance relationship
Author: Martin, G.
Gözübüyük, R.
Becerra, M.
Citation: Strategic Management Journal, 2013; 36(2):235-253
Publisher: WILEY-BLACKWELL
Issue Date: 2013
ISSN: 0143-2095
1097-0266
Statement of
Responsibility: 
Geoffrey Martin, Remzi Gözübüyük and Manuel Becerra
Abstract: We examine how uncertainty influences the performance effects of directorate interlocks. Our study offers a new perspective of directorate interlocks as mechanisms that enable firms to improve performance when confronted with greater uncertainty, suggesting that uncertainty positively moderates the interlock-performance relationship. This contrasts with the view based on resource dependence theory suggesting networks reduce uncertainty and enhance firm performance, implying that uncertainty mediates the interlock effect upon performance. Using a sample of 3,745 firms across manufacturing industries in the United States during the period 2001-2009, we find support for the moderation argument and less convincing support for mediation, suggesting that firms may not form interlocks necessarily to reduce uncertainty. Instead, firms may create interlocks to enable adaptation and enhance performance when confronted by uncertainty. © 2013 John Wiley & Sons, Ltd.
Keywords: directorate interlock; performance; uncertainty; networks; resource dependence
Rights: © 2013 John Wiley & Sons, Ltd.
DOI: 10.1002/smj.2216
Appears in Collections:Aurora harvest 7
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