CEO overconfidence and firm performance: A meta-analytic review and future research agenda

IF 3.1 4区管理学 Q2 MANAGEMENT

Journal of Management & Organization Pub Date : 2023-11-09 DOI:10.1017/jmo.2023.58

Chao Miao, Joseph E. Coombs, Shanshan Qian, In-Sue Oh

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Abstract

Abstract We provide a meta-analytic examination of the CEO overconfidence–firm performance relationship. Our results support a positive relationship between these focal variables. Drawing from trait activation theory and national cultural differences literatures, we find that cross-cultural effects moderate the focal relationship. More specifically, we find that the CEO overconfidence–firm performance relationship is stronger in high assertive, low institutional collectivistic, low in-group collectivistic, high future-oriented, high gender egalitarian, high performance-oriented, low power distance, and low uncertainty avoidance cultures. Consistent with the resource orchestration literature, we also find that entrepreneurial orientation mediates the focal relationship between CEO overconfidence and firm performance. Taken together, our results present a more nuanced picture of the CEO trait–firm performance relationship. In the future, researchers may consider examining additional CEO traits as well as additional contextual factors including internal, as well as environmental, factors.

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CEO过度自信与企业绩效:元分析回顾与未来研究议程

摘要本文对CEO过度自信与企业绩效的关系进行了meta分析。我们的结果支持这些焦点变量之间的正相关关系。从特质激活理论和国家文化差异文献中，我们发现跨文化效应调节了焦点关系。更具体地说，我们发现CEO过度自信与企业绩效的关系在高自信、低制度集体主义、低群体内集体主义、高未来导向、高性别平等主义、高绩效导向、低权力距离和低不确定性回避文化中更强。与资源编排文献一致，我们还发现创业导向在CEO过度自信与企业绩效之间的焦点关系中起中介作用。综上所述，我们的研究结果为CEO特质与公司绩效之间的关系提供了一幅更为微妙的图景。在未来，研究人员可能会考虑研究其他CEO特征以及其他背景因素，包括内部因素和环境因素。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Management & Organization MANAGEMENT-

CiteScore

6.60

自引率

9.10%

发文量

期刊介绍： The Journal of Management & Organization is an international peer-reviewed journal from eContent, in association with ANZAM. It provides global perspectives on management and organization of benefit to scholars, educators, students, practitioners, policy-makers and consultants worldwide. In one forum, Journal of Management & Organization covers: •Qualitative and quantitative empirical research articles •Theoretical and conceptual articles •Literature reviews - including those from theses •Articles on management education and learning •Practitioner perspectives and case studies •Methodological advances - including those from theses