Top Management Team Functional Diversity and Management Forecast Accuracy
研究了高管团队成员之间及成员内部的职能多样性如何影响管理层盈利预测的准确性，发现两种多样性均与预测准确性正相关，且在信息不确定性高、团队分权程度高或成员共事时间长时更显著。
SYNOPSIS In this study, I examine whether top management team (TMT) between-member and within-member functional diversity affect management earnings forecast accuracy. Between-member functional diversity refers to the heterogeneity of functional experts on a TMT and within-member functional diversity refers to the aggregate functional breadth of TMT members. I find that both types of functional diversity are positively associated with management forecast accuracy. Further cross-sectional analyses show that these positive associations are significant only when firms face greater information uncertainty, when TMTs are more decentralized, and when TMT members have longer joint team tenure. These findings are consistent with the information-processing perspective that TMT functional diversity can facilitate information processing and sharing and thus improve management forecast accuracy. This study contributes to the literature by shedding light on how TMT members with various functional backgrounds work together in shaping financial disclosure quality. Data Availability:Data are available from the public sources cited in the text.