Give me uncertainty, and I will shine: CEO narcissism and corporate performance

被引：2
|
作者：
Aabo, Tom [1 ,4 ]
Kirch, Theodor Roe [2 ]
Thomsen, Katrine Hoj Stadil [3 ]
机构：
[1] Aarhus Univ, Fuglesangs Alle 4, DK-8210 Aarhus, Denmark
[2] Boston Consulting Grp Inc, Kalvebod Brygge 24, DK-1560 Copenhagen V, Denmark
[3] PwC, Jens Chr Skous Vej 1, DK-8000 Aarhus C, Denmark
[4] Danish Finance Inst, Amaliegade 7, DK-1256 Copenhagen K, Denmark
来源：
GLOBAL FINANCE JOURNAL | 2024年 / 62卷
关键词：
Behavioral corporate finance; CEO narcissism; Uncertainty; Corporate performance; PERSONALITY-TRAITS; STOCK RETURNS; RISK-TAKING; VOLATILITY; OVERCONFIDENCE; GRANDIOSE; STRATEGY; MODEL; SIZE;
D O I：
10.1016/j.gfj.2024.100991
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
CEO narcissism is an established fact in the corporate world. We argue that uncertainty moderates the relationship between CEO narcissism and corporate performance. Thus, we hypothesize that the decisiveness and craving for attention of the narcissistic CEO improve corporate performance during periods of high uncertainty, while these features of narcissism are not needed and indeed are disadvantageous during periods of low uncertainty. Our empirical results support our hypothesis. Our findings are important in understanding the context specificity of the advantages and disadvantages of CEO narcissism in an empirical corporate setting and thus important for CEO selection and CEO management.
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页数：17
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