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论文编号: | 9288 | |
作者编号: | 2120152502 | |
上传时间: | 2017/6/19 18:25:55 | |
中文题目: | CEO自恋与公司战略变革实证研究 | |
英文题目: | An Empirical Study on CEO Narcissism and Corporate Strategic Change | |
指导老师: | 武立东 | |
中文关键字: | CEO自恋;CEO权力;董事会监督强度;战略变革 | |
英文关键字: | CEO narcissism;CEO power;board supervision intensity;corporate strategic change | |
中文摘要: | 新经济时代,变化已经成为这个时代的一种常态。企业/公司所处的环境一直在变,因而根据资源依赖理论,企业/公司的战略也需要变革。高层梯队理论指出,“企业是高管特征的反映”,高管的偏见、经验以及偏好都会影响公司的战略选择和业绩(Finkelstein & Hambrick,1996;Carpenter,Geletkanycz & Sanders,2004)。CEO作为公司权力中心最具影响力的人物,是公司最高层决策的制定者和实施者,肩负着抓住契机进行战略变革的重任。已有研究更多的关注于CEO的人口背景统计特征会对公司的战略和业绩产生何种影响,而直接关注CEO心理和性格方面特征的研究还相对较少。近年来越来越多的卓越领导者,如史蒂夫·乔布斯(Steve Jobs)、董明珠等都被贴上了自恋的标签,于是“自恋”作为CEO身上一种与生俱来的人格特质,受到了广泛的关注,但由于对CEO心理和性格方面的量度有着较大的困难,关于CEO自恋的实证研究还处于初始阶段。 在此背景下,本文首先对国内外关于自恋、自恋型领导、CEO自恋的已有研究成果进行了回顾,然后基于高层梯队理论、有限理性理论、社会认知理论和行为金融理论,并结合我国上市公司2004-2015年的样本数据,考察了具有自恋倾向的CEO会对公司的战略变革产生何种影响,此外还考虑了CEO权力和董事会监督强度的调节作用。通过实证研究发现,CEO自恋会抑制上市公司的战略变革,CEO权力对CEO自恋与公司战略变革之间的关系具有正向调节作用,董事会监督强度对CEO自恋与公司战略变革之间的关系具有负向调节作用。进一步的分析还发现,CEO自恋与机会型战略变革正相关,与任务型战略变革负相关。本文的发现丰富了战略和组织管理的相关文献,同时为CEO自恋的实证研究做出了贡献。 | |
英文摘要: | In this new economic era, change has become a normalcy. According to the resource dependence theory, the strategies of an enterprise or corporate need to change with the changes of environment. Upper echelons theory points out that enterprise is a reflection of the characteristics of executives, whose prejudices, experiences and preferences will affect the corporate's strategy choice and performance (Finkelstein & Hambrick, 1996; Carpenter, Geletkanycz & Sanders, 2004). As the most influential figure in the power center of a corporate, CEO is the top decision maker and implementer, shoulder the heavy responsibility to seize the opportunities to conduct strategic changes. Existing researches mostly focus on the relationship between the CEO's demographic characteristics and the corporate's strategy or performance. Studies directly pay attention to CEO's psychological characteristics and personality traits are relatively few. In recent years, more and more outstanding leaders, such as Steve Jobs, Mingzhu Dong were labeled as narcissistic, narcissism received widespread attention as an inherent personality trait of CEOs. However, empirical study on CEO narcissism is still in the initial stage because of measuring the psychological characteristics or personality traits of CEOs is relatively difficult. In this background, this paper first reviews the existing researches about narcissism, narcissistic leaders, CEO narcissism both at home and abroad. Then based on the upper echelon theory, bounded rationality theory, social cognitive theory and behavioral finance theory, combined with the sample data of China's listed companies from 2004 to 2015, this paper examines the impacts of CEOs with narcissistic tendency on the corporate strategic changes. In addition, this paper also takes the regulating effect of CEO power and board supervision intensity into account. Through empirical research, this paper founds that CEO narcissism will suppress the strategic changes of listed companies. CEO power plays a positive regulatory role on the relationship between CEO narcissism and the corporate strategic change. The stre- ngth of board supervision plays a negative regulatory role on the relationship between CEO narcissism and the corporate strategic change. Further analysis also founds that CEO narcissism is positively related to opportunistic strategic change and is negatively related to mission-based strategic change. The discoveries of this paper enrich the relevant literatures of strategy and organization management, and contributes to the empirical research of CEO narcissism. | |
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