CEO HUBRIS AND FIRM RISK TAKING IN CHINA: THE MODERATING ROLE OF MANAGERIAL DISCRETION

被引：740
|
作者：
Li, Jiatao [1 ,2 ]
Tang, Yi [3 ]
机构：
[1] Hong Kong Univ Sci & Technol, Dept Management, Hong Kong, Hong Kong, Peoples R China
[2] Hong Kong Univ Sci & Technol, HKUST Business Sch, Hong Kong, Hong Kong, Peoples R China
[3] Hong Kong Polytech Univ, Dept Management & Mkt, Hong Kong, Hong Kong, Peoples R China
来源：
ACADEMY OF MANAGEMENT JOURNAL | 2010年 / 53卷 / 01期
关键词：
RESEARCH-AND-DEVELOPMENT; CORPORATE GOVERNANCE; EMPIRICAL-EXAMINATION; COMPETITOR ANALYSIS; MANAGEMENT RESEARCH; STRUCTURAL INERTIA; UPPER ECHELONS; CAUSAL MODEL; PERFORMANCE; OVERCONFIDENCE;
D O I：
10.5465/AMJ.2010.48036912
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study linked CEO hubris to firm risk taking and examined the moderating role of managerial discretion in this relationship. Drawing on upper echelons theory and behavioral decision theory, we developed and tested hypotheses using original survey data from 2,790 CEOs of diverse manufacturing firms in China. The positive relationship between CEO hubris and firm risk taking was found to be stronger when CEO managerial discretion was stronger: when a firm faced munificent but complex markets; had less inertia and more intangible resources; had a CEO who also chaired its board; and had a CEO who was not politically appointed.
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页码：45 / 68
页数：24
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