{"title":"ALWAYS DESIRE MORE? CEO PERCEPTIONS OF RELATIVE COMPENSATION, RISK PROPENSITY, AND INNOVATION IN SMEs","authors":"ANDRES FELIPE CORTES, YOUNGEEUN LEE, POL HERRMANN","doi":"10.1142/s1363919623500457","DOIUrl":null,"url":null,"abstract":"<p>We study how the chief executive officers (CEOs) compensation perceptions and risk propensity influence exploratory innovation in small- and medium-sized enterprises (SMEs). Based on survey data collected from 381 CEOs of private SMEs in Colombia, we find that (1) CEO underpayment perceptions have a positively increasing relationship with exploratory innovation, (2) CEO overpayment perceptions have a positively decreasing relationship with exploratory innovation, and (3) CEOs’ risk propensity does not moderate these relationships. Our study informs small business managers, boards of directors, and policy makers on how compensation aspirations and comparisons serve as motives for exploratory behaviour. Our study also represents a unique attempt to capture CEOs’ perceptions of their compensation and explore their influence on strategic outcomes. Further, we underscore the need to extend social comparison theories to better understand how CEOs’ compensation and dispositional motives shape firms.</p>","PeriodicalId":47711,"journal":{"name":"International Journal of Innovation Management","volume":"2 1","pages":""},"PeriodicalIF":1.3000,"publicationDate":"2024-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Innovation Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1142/s1363919623500457","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 0
Abstract
We study how the chief executive officers (CEOs) compensation perceptions and risk propensity influence exploratory innovation in small- and medium-sized enterprises (SMEs). Based on survey data collected from 381 CEOs of private SMEs in Colombia, we find that (1) CEO underpayment perceptions have a positively increasing relationship with exploratory innovation, (2) CEO overpayment perceptions have a positively decreasing relationship with exploratory innovation, and (3) CEOs’ risk propensity does not moderate these relationships. Our study informs small business managers, boards of directors, and policy makers on how compensation aspirations and comparisons serve as motives for exploratory behaviour. Our study also represents a unique attempt to capture CEOs’ perceptions of their compensation and explore their influence on strategic outcomes. Further, we underscore the need to extend social comparison theories to better understand how CEOs’ compensation and dispositional motives shape firms.
期刊介绍：
The International Journal of Innovation (IJIM) is the official journal of the International Society of Professional Innovation Management (ISPIM). Both the IJIM and ISPIM adopt a multi-disciplinary approach to addressing the many challenges of managing innovation, rather than a narrow focus on a single aspect such as technology, R&D or new product development. Both are also international, inclusive & practical, and encourage active interaction between academics, managers and consultants.
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