It's All about Me: Narcissistic Chief Executive Officers and Their Effects on Company Strategy and Performance
研究通过CEO照片突出程度、新闻稿曝光度、第一人称代词使用及薪酬差距等指标衡量CEO自恋程度,发现自恋CEO倾向于采取大胆行动,导致战略动态性和宏大性增强,并购更多,但公司绩效波动大,总体并不优于非自恋CEO。
This study uses unobtrusive measures of the narcissism of chief executive officers (CEOs)—the prominence of the CEO's photograph in annual reports, the CEO's prominence in press releases, the CEO's use of first-person singular pronouns in interviews, and compensation relative to the second-highest-paid firm executive—to examine the effect of CEO narcissism on a firm's strategy and performance. Results of an empirical study of 111 CEOs in the computer hardware and software industries in 1992–2004 show that narcissism in CEOs is positively related to strategic dynamism and grandiosity, as well as the number and size of acquisitions, and it engenders extreme and fluctuating organizational performance. The results suggest that narcissistic CEOs favor bold actions that attract attention, resulting in big wins or big losses, but that, in these industries, their firms' performance is generally no better or worse than firms with non-narcissistic CEOs.