CEO Hubris and Firm Performance: Exploring the Moderating Roles of CEO Power and Board Vigilance
This study focuses on CEO hubris and its detrimental effect on corporate financial performance along with an examination of critical corporate governance contingencies (CEO power and board vigilance) that may moderate the negative effect. From 654 observations of 164 Korean firms over the years 2001...
| Κύριος συγγραφέας: | |
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| Άλλοι συγγραφείς: | ; ; ; |
| Τύπος μέσου: | Ηλεκτρονική πηγή Άρθρο |
| Γλώσσα: | Αγγλικά |
| Έλεγχος διαθεσιμότητας: | HBZ Gateway |
| Journals Online & Print: | Φόρτωση...
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| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Έκδοση: |
2018
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| Στο/Στη: |
Journal of business ethics
Έτος: 2018, Τόμος: 147, Τεύχος: 4, Σελίδες: 919-933 |
| Άλλες λέξεις-κλειδιά: | B
CEO power
B Korea B board vigilance B CEO hubris |
| Διαθέσιμο Online: |
Volltext (lizenzpflichtig) |
| Σύνοψη: | This study focuses on CEO hubris and its detrimental effect on corporate financial performance along with an examination of critical corporate governance contingencies (CEO power and board vigilance) that may moderate the negative effect. From 654 observations of 164 Korean firms over the years 2001–2008, we found that CEO power exacerbated the negative effect of CEO hubris on corporate financial performance, whereas board vigilance mitigated it. This study provides empirical evidence that entrenchment problems arising from CEO hubris would be exacerbated as CEOs become more powerful, but weakened as board of directors become more vigilant. Theoretical contributions and practical implications will be discussed. |
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| ISSN: | 1573-0697 |
| Περιλαμβάνει: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-015-2997-2 |