For more than four decades, individuals acting as top managers in organizations have been the subject of scientific research. Executives' individual characteristics, such as personal values, experiences, expertise, and how these influence strategic choices, and consequently, the performance of an organization are part of the Upper Echelon literature as main research strand developed in 1980s. According to that, organizational outcomes are a reflection of top managers' values and cognitions, commonly shared within the Top Management Team (TMT), which includes "the executives responsible to the...