Alphabetical order of authorship reflects equal contribution. Many organizational and environmental factors influence a firm's commitment to innovation. Among the organizational factors, the perceptual lens of the top management team and the team's dynamics are posited to have a significant direct impact on the firm's commitment to innovation. This study revisits the classic arguments of Hayes and Abernathy and empirically examines several of their propositions. The results clearly indicate a positive relationship between the technical orientation of the TMT/CEO and above-average R&D intensity. This effect remains even after controlling for the impact of performance in prior periods and firm diversification. Overall, these results suggest that establishing a high level of commitment to innovation will be promoted or impeded in many organizations because of the predispositions of the CEO and top management team.
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