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Since the mid-1980s, much research attention has been devoted to top management teams and their impact on the strategic behavior and performance of firms. In particular, this research has focused on the role of top managers’ background, values, and experiences in explaining the choices they make. So far, this research has largely failed to address the national context in which top management teams are formed and operate. Empirical studies have typically involved top management teams of U.S. firms. Other studies are rare, and when they exist, they usually do not take the national context into account. This paper explores the impact of national context characterized by society-specific value systems and institutions, on the composition, organization, and functioning of top management. We address three topics in particular: (1) national variations in the structure and practices of top management and their implications for managerial choices; (2) national governance systems that define and constrain the tasks and functioning of top management teams; and (3) national institutions that help to define managerial selection, promotion, and career patterns.

Although management scholars have displayed a strong interest in top management teams, surprisingly little research has been devoted to the international dimensions of top management teams including their international diversity and their societal and cultural underpinnings. This paper provides a recent overview of empirical studies addressing the international dimension of top management teams and identifies avenues for future research. Particular attention is paid to the role of the institutional and cultural societal context in shaping the configuration of top management.