How do CEO emotions matter? Impact of CEO affective traits on strategic and performance conformity in the spanish banking industry
研究了CEO长期积极或消极情绪倾向如何影响西班牙银行和储蓄银行的战略与绩效趋同，发现消极情绪导致更趋同的战略和绩效，而积极情绪则促进偏离行业中心趋势。
Abstract Research on how managers influence firm outcomes has generated promising explanations of differences in organizational strategies and performance within a given industry, but has largely ignored the role of emotions in shaping managers' strategic choices. This article analyzes the influence of the affective traits of CEOs—their long‐term tendency to experience positive or negative moods or emotions—on strategy and performance conformity in a sample of Spanish banks and savings banks. Our results show that managers' negative affective traits are related to more conformist strategies and more typical performance, whereas positive affective traits seem to promote outcomes that deviate from the central tendencies of the industry. Results also show that strategic conformity mediates the relationship between CEO negative affective traits and typical performance. Copyright © 2009 John Wiley & Sons, Ltd.