Top management retains support only so long as others in the corporate structure keep them in power, which gives incumbents an incentive to keep upper management composition unchanged.
Source quote, verbatim
Second, top management are supported so long as others in the corporate structure continue to hold them in power.64 This gives them an incentive to keep the upper management the same.
Wulf A. Kaal, Blockchain Technology and Race in Corporate America (2017). SSRN: https://ssrn.com/abstract=3071378
Holds when
hierarchical corporate structures where incumbency depends on internal support
Classification
mechanismsupport: arguedrisk-and-incentives
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