The genesis of top management team diversity: Selective turnover among top management teams in Dutch newspaper publishing, 1970-94

We propose that executive team power strengthens a cycle of "homosocial reproduction" that is interrupted only when teams face such compelling needs for diversity as poor organizational performance, high corporate diversification, and tough market competition. Hypothesis tests in data from major Dutch newspaper publishers over 25 years did not support many of our benchmark expectations. Apparently, top management teams tend to close ranks when environmental complexity and pressure increase. Explanations and new research avenues are discussed.