3.2.3 Antecedents belonging to homophily theory
According to the homophily theory, TMT members choose to establish a CHRO position when they are highly experienced in HRM. To test this hypothesis, we operationalized the TMTs’ HR experience. We measured TMT HR experience by the accumulated years that the top executive team members, excluding the CHRO, had performing HR functions. This method of classification of functional experience is well-established in existing research (see Finkelstein et al. 2009, pp. 97–106, for a review). We collected biographical data on TMT members by using 10-K filings, and checked the filings against other annual company reports and corporate websites. Biographical data was available for 98 % of the executives. When there were no data available for a TMT member, the member was removed from the analysis. As the CEO is the most powerful person within a TMT, we collected separate data for the CEOs.