“…For example, they could consider the TMT as a strategic resource (Hoskisson, Hitt, Wan, & Yiu, 1999), whose impact is manifested in the allocation of resources (Hambrick & Mason, 1984), which could prevent decline and lead companies down the path to restructuring (Pandit, 2000). Some studies on organizational success highlight the role of the leaders and cognitive behavior of the management in relation to performance (e.g., Hambrick & D'Aveni, 1988;Hambrick & Mason, 1984). There are a growing body of studies considering the influence of the board during crises (e.g., Dowell, Schakell, & Stuart, 2011).…”