Embedded within firms are unique stores of intangible human assets that likely influence the way firms compete. We argue that human and social capital of a firm, particularly at the upper echelon level, contributes to the firm’s awareness of the competitive environment and its motivation and...

The study of top management teams, which began with confidence, optimism, and promise, has been plagued by criticisms arising from mixed or weak findings and poor explanatory power of firm outcomes vis‐à‐vis other variables. This paper argues that the disputed phenomenon of top management...