From the upper-echelons perspective, researchers have long argued that top managers significantly influence their firms’ entrepreneurial proclivity. While this research stream has been conducted primarily in the U.S context, the culture literature suggests that managers in different nations should vary substantially in their characteristics and behaviors. Considering this, in this paper we attempt to explore cross-cultural differences in the top management team (TMT) and its effects on corporate entrepreneurship. Taking U.S. based and Korean based small- to medium-sized companies as the focus, we examine two critical aspects of a TMT: diversity and process. Essentially, we address two research questions:

(1) How does culture influence a TMT’s diversity and process directly?

(2) How does culture moderate the effects of TMT diversity and process on corporate entrepreneurship?