{"title":"The double-edged sword of CEO narcissism: A meta-analysis of innovation and firm performance implications","authors":"Priscilla S. Kraft","doi":"10.1111/jpim.12649","DOIUrl":null,"url":null,"abstract":"<p>Despite a growing body of research, the role of chief executive officer (CEO) narcissism for firm performance is subject to a controversial discussion in the literature. To help advance the discussion, I build on upper echelon theory to propose that innovation is a crucial mediating mechanism that helps explain how CEO narcissism may be beneficial for firm performance. To better understand the conditions under which CEO narcissism may be beneficial for innovation and ultimately firm performance, I investigate the moderating role of CEO gender and managerial discretion. Building on 68 studies, results from meta-analytical structural equation modeling confirm that CEO narcissism can be beneficial for firm performance through stimulating innovation. However, the results further caution that these performance benefits are likely to be canceled out by other detrimental actions pursued by narcissistic CEOs, indicating that they can be a double-edged sword for firms. Moreover, the results support that narcissistic female CEOs engage less in innovation (compared to their male counterparts). Interestingly, they seem to engage in other beneficial actions which ultimately improve overall firm performance, whereas their male counterparts engage in other harmful actions which hurt overall firm performance. The results further highlight that, while the upsides of narcissistic CEOs for performance through innovation increase in high managerial discretion contexts, their greater leeway enhances their downsides even more, so that they do not only offset the benefits of narcissistic CEOs, but even lead to detrimental effects for performance. This study contributes to the literature on CEO narcissism by theorizing and empirically demonstrating that the relationship between CEO narcissism and performance is more complex than previously depicted and requires a more nuanced investigation of the underlying mechanism as well as of potential contingencies. Building on these findings, future research opportunities are identified to further advance the literature on CEO narcissism.</p>","PeriodicalId":16900,"journal":{"name":"Journal of Product Innovation Management","volume":"39 6","pages":"749-772"},"PeriodicalIF":10.1000,"publicationDate":"2022-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jpim.12649","citationCount":"5","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Product Innovation Management","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/jpim.12649","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 5
Abstract
Despite a growing body of research, the role of chief executive officer (CEO) narcissism for firm performance is subject to a controversial discussion in the literature. To help advance the discussion, I build on upper echelon theory to propose that innovation is a crucial mediating mechanism that helps explain how CEO narcissism may be beneficial for firm performance. To better understand the conditions under which CEO narcissism may be beneficial for innovation and ultimately firm performance, I investigate the moderating role of CEO gender and managerial discretion. Building on 68 studies, results from meta-analytical structural equation modeling confirm that CEO narcissism can be beneficial for firm performance through stimulating innovation. However, the results further caution that these performance benefits are likely to be canceled out by other detrimental actions pursued by narcissistic CEOs, indicating that they can be a double-edged sword for firms. Moreover, the results support that narcissistic female CEOs engage less in innovation (compared to their male counterparts). Interestingly, they seem to engage in other beneficial actions which ultimately improve overall firm performance, whereas their male counterparts engage in other harmful actions which hurt overall firm performance. The results further highlight that, while the upsides of narcissistic CEOs for performance through innovation increase in high managerial discretion contexts, their greater leeway enhances their downsides even more, so that they do not only offset the benefits of narcissistic CEOs, but even lead to detrimental effects for performance. This study contributes to the literature on CEO narcissism by theorizing and empirically demonstrating that the relationship between CEO narcissism and performance is more complex than previously depicted and requires a more nuanced investigation of the underlying mechanism as well as of potential contingencies. Building on these findings, future research opportunities are identified to further advance the literature on CEO narcissism.
期刊介绍：
The Journal of Product Innovation Management is a leading academic journal focused on research, theory, and practice in innovation and new product development. It covers a broad scope of issues crucial to successful innovation in both external and internal organizational environments. The journal aims to inform, provoke thought, and contribute to the knowledge and practice of new product development and innovation management. It welcomes original articles from organizations of all sizes and domains, including start-ups, small to medium-sized enterprises, and large corporations, as well as from consumer, business-to-business, and policy domains. The journal accepts various quantitative and qualitative methodologies, and authors from diverse disciplines and functional perspectives are encouraged to submit their work.
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