A meta-analysis on organizational and environmental factors impacting the top management team diversity-performance relationship

Management scholars engage in an intense debate about the diversity-performance relationship in top management teams. Prior empirical findings have been disjoint and conflicting. This study contributes insights to the top management team diversity-firm performance controversy following an evidence-based research approach. Our meta-analysis specifically focuses on contextual factors moderating the diversity-performance relationship. Results indicate that a diverse top management team is advantageous, especially in regards to job-related diversity measures. Yet, contextual factors such as smallness of the firm, newness of the firms and the cultural context significantly impact the relationship.