“…In the extant literature, the main focus of upper echelons theory has been on the relationship between the entrepreneur's characteristics and the company's performance or strategic decisions, including failure and strategic renewal (Kwee et al, 2011;Mellahi and Wilkinson, 2004;Wang et al, 2016). Furthermore, previous research has found that the entrepreneur's background and education as well as professional experience are important drivers of performance and even firm survival and restart (Boden and Nucci, 2000;Brüderl et al, 1992;Madrid-Guijarro et al, 2011;Riar et al, 2021;Schutjens and Wever, 2000). Hambrick (2007) asserted that managers who face heavy job demands, such as in a reorganisation process, will be forced to take mental shortcuts and thus have less time to contemplate their decisions.…”