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

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 perio...

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Bibliographic Details
Published inGlobal finance journal Vol. 62; p. 100991
Main Authors Aabo, Tom, Kirch, Theodor Roe, Thomsen, Katrine Høj Stadil
Format Journal Article
LanguageEnglish
Published Elsevier Inc 01.09.2024
Subjects
Behavioral corporate finance
CEO narcissism
Corporate performance
Uncertainty
G34
Uncertainty
G40
Corporate performance
Behavioral corporate finance
CEO narcissism
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Summary: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.
ISSN:1044-0283
DOI:10.1016/j.gfj.2024.100991