Linking top managers’ behavioural traits with business practices and firm performance

IF 7.8 3区管理学 Q1 MANAGEMENT

Review of Managerial Science Pub Date : 2023-11-26 DOI:10.1007/s11846-023-00714-0

Huong Trang Kim, Quang Nguyen

引用次数: 0

Abstract

We embed an experiment in an ongoing firm-level panel survey with a sample of 623 firms managed by their owners to explore the role of top managers’ behavioral traits as drivers of corporate strategies and performance. We find that present biased managers are less likely to invest in business practices, leading to lower sales revenue. Younger managers are more patient and less risk-averse than older ones, and they play a more significant role in improving firm performance than their counterparts. Interestingly, we find compelling evidence that business practices play a crucial role as a mediating mechanism through which managers’ present bias and loss aversion affect firm performance.

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将高层管理者的行为特征与商业实践和公司绩效联系起来

我们在一项正在进行的公司层面面板调查中嵌入了一个实验，该调查以623家由其所有者管理的公司为样本，以探索高管行为特征在公司战略和绩效驱动因素中的作用。我们发现，目前有偏见的管理者不太可能投资于商业实践，导致销售收入下降。年轻的管理者比年长的管理者更有耐心，更少规避风险，他们在提高公司绩效方面扮演着比他们的同行更重要的角色。有趣的是，我们发现了令人信服的证据，表明商业实践在管理者当前偏见和损失厌恶影响公司绩效的中介机制中起着至关重要的作用。

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

Review of Managerial Science MANAGEMENT-

CiteScore

11.30

自引率

14.50%

发文量

期刊介绍： Review of Managerial Science (RMS) provides a forum for innovative research from all scientific areas of business administration. The journal publishes original research of high quality and is open to various methodological approaches (analytical modeling, empirical research, experimental work, methodological reasoning etc.). The scope of RMS encompasses – but is not limited to – accounting, auditing, banking, business strategy, corporate governance, entrepreneurship, financial structure and capital markets, health economics, human resources management, information systems, innovation management, insurance, marketing, organization, production and logistics, risk management and taxation. RMS also encourages the submission of papers combining ideas and/or approaches from different areas in an innovative way. Review papers presenting the state of the art of a research area and pointing out new directions for further research are also welcome. The scientific standards of RMS are guaranteed by a rigorous, double-blind peer review process with ad hoc referees and the journal´s internationally composed editorial board.