| Summary: | 碩士 === 中國文化大學 === 國際貿易學系碩士班 === 96 === Top executives, particularly CEO, can influence the forms and fates of companies, researchers have long been interested in their personalities and how those personalities are manifested in organizational outcomes. Although prior research has generated a wealth of insights about how executive characteristics are manifested in organizational outcomes, almost no attention has been devoted to one of the most vivid qualities seen in some CEO: high levels of narcissism.
Our study extends upper-echelons theory by introducing CEO narcissism as a formal construct for explaining company strategy and financial performance. Our hypotheses includes narcissism in CEO is engenders extreme and fluctuating organizational performance.
We try to rely on four unobtrusive indicators of CEO narcissism. These indicators, which come from multiple sources, cohere and allow us to develop a multi-item CEO narcissism index. Thus, we empirically study 195 or more CEO in the listed company, excluding financial industry. We also examine the moderating effects of four sources of internal monitoring (CEO ownership, CEO duality, Board ownership and blockholders ownership) on the relationship between CEO narcissism and extreme and fluctuating of performance. Results showed that while CEO ownership and blockholders ownership can moderate the relationship. Our results are largely consistent with the narcissism hypothesis where narcissistic managers may engage in extreme and fluctuating activities.
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