Literature on strategic management agrees to assign to TMT a privileged position within the strategic decision-making process. To understand the role of TMT in this process, it is also important to consider the level of managerial discretion, ownership structure and identity of the firms, considering also the country where they are located. Focusing on a sample of Italian Listed Companies, our findings provide interesting results that contrast with current mainstream literature.
Key-Words: Strategia e politica aziendale, managerial discretion, ownership structure, ownership concentration, owner identity, TMT, Italian firms
