Pub Date : 2024-02-01Epub Date: 2024-02-12DOI: 10.1177/14761270231183731
Davide Nicolini, Jeanne Mengis
In this paper, we examine how a practice-theoretical perspective may complement and expand the central tenet of the attention-based view (ABV) that attention is contextually situated. We put forward three main arguments. First, the components that make a practice possible and that locate it in history and context (practice architecture) also prefigure a situated horizon of relevance and possibilities (pragmatic field of attention). Attention thus often befalls organizational members outside the realm of discursive consciousness as a consequence of being engaged in socio-material practices. Second, attention is situated at the crossroads of multiple practices, each with its practice architecture and local pragmatic field of attention. Organizational attention implies tensions, conflict, and contradictions and emerges from the interaction and negotiation of multiple individual and group pragmatic fields of attention. Finally, attention is situated in the temporal dynamics of sustaining and turning attention. This allows us to distinguish between inattention, dysfunctional distraction, and potentially productive attention turning. We argue that by focusing on the ordinary and routinized nature of attention, a theoretical practice view complements and enriches the ABV by offering a less voluntarist and top-down view and proposing a richer view of situatedness. A practice-theoretical approach also distributes attention among a broader set of elements, offering resources to theorize how these elements are connected. The approach also establishes a link between paying attention and caring, thus bringing emotions back into the study of organizational attention. In turn, the ABV helps the practice-theoretical perspective to recognize the central role of attention in organizational matters and the importance of engaging in full with the organizational unit of analysis when dealing with attention-related issues.
{"title":"Toward a practice-theoretical view of the situated nature of attention.","authors":"Davide Nicolini, Jeanne Mengis","doi":"10.1177/14761270231183731","DOIUrl":"10.1177/14761270231183731","url":null,"abstract":"<p><p>In this paper, we examine how a practice-theoretical perspective may complement and expand the central tenet of the attention-based view (ABV) that attention is contextually situated. We put forward three main arguments. First, the components that make a practice possible and that locate it in history and context (practice architecture) also prefigure a situated horizon of relevance and possibilities (pragmatic field of attention). Attention thus often befalls organizational members outside the realm of discursive consciousness as a consequence of being engaged in socio-material practices. Second, attention is situated at the crossroads of multiple practices, each with its practice architecture and local pragmatic field of attention. Organizational attention implies tensions, conflict, and contradictions and emerges from the interaction and negotiation of multiple individual and group pragmatic fields of attention. Finally, attention is situated in the temporal dynamics of sustaining and turning attention. This allows us to distinguish between inattention, dysfunctional distraction, and potentially productive attention turning. We argue that by focusing on the ordinary and routinized nature of attention, a theoretical practice view complements and enriches the ABV by offering a less voluntarist and top-down view and proposing a richer view of situatedness. A practice-theoretical approach also distributes attention among a broader set of elements, offering resources to theorize how these elements are connected. The approach also establishes a link between paying attention and caring, thus bringing emotions back into the study of organizational attention. In turn, the ABV helps the practice-theoretical perspective to recognize the central role of attention in organizational matters and the importance of engaging in full with the organizational unit of analysis when dealing with attention-related issues.</p>","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10864129/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45452346","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-01DOI: 10.1177/14761270231223398
Oliver Alexy, Charlotte Cloutier, Matthew Kraatz, Caterina Moschieri, Margarethe Wiersema
{"title":"2024 news and announcements from the co-editors","authors":"Oliver Alexy, Charlotte Cloutier, Matthew Kraatz, Caterina Moschieri, Margarethe Wiersema","doi":"10.1177/14761270231223398","DOIUrl":"https://doi.org/10.1177/14761270231223398","url":null,"abstract":"","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139887578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-01DOI: 10.1177/14761270231223397
John Joseph, Daniella Laureiro-Martínez, Amit Nigam, W. Ocasio, Claus Rerup
The attention-based view (ABV) offers a foundational perspective on strategy and organizing. Despite its significance, questions persist about the relationship between organizational attention and strategic organization. Inspired by the evolving literature on organizational attention, its determinants, and consequences, this special issue aims to advance theory and research in the ABV realm. It includes eight articles—three empirical and five theoretical—spanning a diverse range of topics. Emerging themes include a shift from viewing attention as individual cognition toward attentional engagement through interactions and social relations within organizations, the temporal and dynamic nature of attention, and an explicit recognition that ABV is not about a fixed quantity of attention but what shapes strategic organizational behavior and adaptation.
{"title":"Research frontiers on the attention-based view of the firm","authors":"John Joseph, Daniella Laureiro-Martínez, Amit Nigam, W. Ocasio, Claus Rerup","doi":"10.1177/14761270231223397","DOIUrl":"https://doi.org/10.1177/14761270231223397","url":null,"abstract":"The attention-based view (ABV) offers a foundational perspective on strategy and organizing. Despite its significance, questions persist about the relationship between organizational attention and strategic organization. Inspired by the evolving literature on organizational attention, its determinants, and consequences, this special issue aims to advance theory and research in the ABV realm. It includes eight articles—three empirical and five theoretical—spanning a diverse range of topics. Emerging themes include a shift from viewing attention as individual cognition toward attentional engagement through interactions and social relations within organizations, the temporal and dynamic nature of attention, and an explicit recognition that ABV is not about a fixed quantity of attention but what shapes strategic organizational behavior and adaptation.","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139828412","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Since March (1991) outlined the importance of balancing exploration and exploitation in organizational learning, the exploration-exploitation paradigm has received substantial attention in the management literature. Recent studies have used computer-aided text analysis (CATA) to construct measures of firms’ inclination towards exploration or exploitation, using the original set of keywords proposed by March. We propose a structured series of tests to assess the validity of CATA-based measures and demonstrate that the approach used in prior studies is unlikely to deliver valid indicators. We show that an alternative approach, which relies on a larger library of keywords including synonyms of the March keywords and selects only those keywords that are informative and that pass validity tests, delivers valid CATA indicators – both for unstructured (news articles) and structured text bases (annual reports). Our study contributes to the literature on construct validity and has broader implications for the development of CATA-based indicators in strategy and organization research.Keywords: exploration, exploitation, ambidexterity, content analysis, computer-aided text analysis (CATA), firm performance
{"title":"EXPRESS: The Long March: The Quest for Valid Text-Based Indicators of Exploration and Exploitation","authors":"Nazlihan Ugur, Rene Belderbos, Stijn Kelchtermans, Bart Leten","doi":"10.1177/14761270241231724","DOIUrl":"https://doi.org/10.1177/14761270241231724","url":null,"abstract":"Since March (1991) outlined the importance of balancing exploration and exploitation in organizational learning, the exploration-exploitation paradigm has received substantial attention in the management literature. Recent studies have used computer-aided text analysis (CATA) to construct measures of firms’ inclination towards exploration or exploitation, using the original set of keywords proposed by March. We propose a structured series of tests to assess the validity of CATA-based measures and demonstrate that the approach used in prior studies is unlikely to deliver valid indicators. We show that an alternative approach, which relies on a larger library of keywords including synonyms of the March keywords and selects only those keywords that are informative and that pass validity tests, delivers valid CATA indicators – both for unstructured (news articles) and structured text bases (annual reports). Our study contributes to the literature on construct validity and has broader implications for the development of CATA-based indicators in strategy and organization research.Keywords: exploration, exploitation, ambidexterity, content analysis, computer-aided text analysis (CATA), firm performance","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2024-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139951981","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-31DOI: 10.1177/14761270241231088
Bo Kyung Kim, Donghoon Shin, Mooweon Rhee
This paper explores the status-attainment process of entrepreneurial firms in emerging categories. Previous literature emphasizes that in emerging categories, being perceived as the exemplars is important to attain status. We emphasize that clear symbolic boundaries around emerging categories can increase the possibility of exemplar perception and argue that entrepreneurial firms and influential stakeholders of existing categories can affect the status-attainment process by changing such perception. Specifically, contrast and distinctiveness rhetorical claims employed by entrepreneurial firms and negative responses from influential stakeholders differently affect status by delineating symbolic boundaries around the emerging category to varying degrees. We find support for our arguments among Korean online newspapers. The utilization of contrast claims compared to print media or receiving conciliations from print media’s influential stakeholders increased the status of online newspapers, measured by news-source citations. However, distinctiveness claims compared to other online newspapers negatively affect status, albeit mitigated by negative responses from influential stakeholders.
{"title":"EXPRESS: Epitomizing an Emerging Category: Effects of Entrepreneurial Firms and Influential Stakeholders on the Entrepreneurial Firms’ Status Attainment","authors":"Bo Kyung Kim, Donghoon Shin, Mooweon Rhee","doi":"10.1177/14761270241231088","DOIUrl":"https://doi.org/10.1177/14761270241231088","url":null,"abstract":"This paper explores the status-attainment process of entrepreneurial firms in emerging categories. Previous literature emphasizes that in emerging categories, being perceived as the exemplars is important to attain status. We emphasize that clear symbolic boundaries around emerging categories can increase the possibility of exemplar perception and argue that entrepreneurial firms and influential stakeholders of existing categories can affect the status-attainment process by changing such perception. Specifically, contrast and distinctiveness rhetorical claims employed by entrepreneurial firms and negative responses from influential stakeholders differently affect status by delineating symbolic boundaries around the emerging category to varying degrees. We find support for our arguments among Korean online newspapers. The utilization of contrast claims compared to print media or receiving conciliations from print media’s influential stakeholders increased the status of online newspapers, measured by news-source citations. However, distinctiveness claims compared to other online newspapers negatively affect status, albeit mitigated by negative responses from influential stakeholders.","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2024-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139952048","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-27DOI: 10.1177/14761270241229698
Francois Herve COLLET, Olga Bruyaka, Alex Makarevich, Lucie Baudoin, Ralf Wilden
Status and reputation both play important roles in the evaluation and choice of organizations. Status is used as a heuristic in the first stage of a two-stage process when decision-makers select a subset of status-proximate organizations, and cognitively costlier reputation-based comparisons take place in the second stage within this subset. Existing status research assumes that the relative importance of different dimensions of reputation in the second stage is not contingent on the status of the organization that is being evaluated. We argue that this assumption is not warranted. Evidence suggests that high status is associated with a focus on gains and opportunities while low status is associated with a focus on downside risks. Similarly, some dimensions of reputation are associated more with upside opportunities while other dimensions of reputation are associated more with downside risks. Consequently, we argue that the emphasis on reputation dimensions associated with upside opportunities relative to dimensions of reputation associated with downside risks is contingent on status, which provides the evaluation frame. We test our hypothesis and provide empirical evidence consistent with our predictions using a sample of 411,530 U.S. applicants to MBA programs.
在评估和选择组织时，地位和声誉都起着重要作用。在两阶段过程的第一阶段，地位被用作一种启发式方法，即决策者选择地位相近的组织子集，而在第二阶段，则在该子集内进行认知成本更高的声誉比较。现有的地位研究假定，第二阶段中不同声誉维度的相对重要性并不取决于被评估组织的地位。我们认为这种假设是没有道理的。有证据表明，地位高的组织注重收益和机遇，而地位低的组织则注重负面风险。同样，声誉的某些维度更多地与上行机会相关，而声誉的其他维度则更多地与下行风险相关。因此，我们认为，相对于与下行风险相关的声誉维度，对与上行机遇相关的声誉维度的重视程度取决于提供评价框架的地位。我们使用 411,530 位美国 MBA 项目申请人的样本对我们的假设进行了检验，并提供了与我们的预测相一致的经验证据。
{"title":"EXPRESS: Changing Focus: How status affects reputation-based comparisons in the evaluation of organizations","authors":"Francois Herve COLLET, Olga Bruyaka, Alex Makarevich, Lucie Baudoin, Ralf Wilden","doi":"10.1177/14761270241229698","DOIUrl":"https://doi.org/10.1177/14761270241229698","url":null,"abstract":"Status and reputation both play important roles in the evaluation and choice of organizations. Status is used as a heuristic in the first stage of a two-stage process when decision-makers select a subset of status-proximate organizations, and cognitively costlier reputation-based comparisons take place in the second stage within this subset. Existing status research assumes that the relative importance of different dimensions of reputation in the second stage is not contingent on the status of the organization that is being evaluated. We argue that this assumption is not warranted. Evidence suggests that high status is associated with a focus on gains and opportunities while low status is associated with a focus on downside risks. Similarly, some dimensions of reputation are associated more with upside opportunities while other dimensions of reputation are associated more with downside risks. Consequently, we argue that the emphasis on reputation dimensions associated with upside opportunities relative to dimensions of reputation associated with downside risks is contingent on status, which provides the evaluation frame. We test our hypothesis and provide empirical evidence consistent with our predictions using a sample of 411,530 U.S. applicants to MBA programs.","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2024-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139951980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-22DOI: 10.1177/14761270241229080
Leonard Schmidt, Thijs A. Velema, Shin-i Shih
This paper examines how executive mobility shapes organizational status. We propose that the status perception of market observers is not only shaped through the lens of status distance between the source and destination firms, but is also influenced by a novel lens: the mobile individuals’ career characteristics. By testing our hypotheses with a sample of U.S. accounting, consulting, and law firms between 2012 and 2018, we find that hiring from a higher-status firm has a stronger positive effect on the perception of observers when hired individuals have long tenure and interlocking directorships. Looking through the lens of career characteristics, we explain differences in the credibility perception of mobility events and contribute to a better understanding of the mobility-status relationship.
{"title":"EXPRESS: The individual makes the difference: How mobile personnel affects organizational status of hiring firms","authors":"Leonard Schmidt, Thijs A. Velema, Shin-i Shih","doi":"10.1177/14761270241229080","DOIUrl":"https://doi.org/10.1177/14761270241229080","url":null,"abstract":"This paper examines how executive mobility shapes organizational status. We propose that the status perception of market observers is not only shaped through the lens of status distance between the source and destination firms, but is also influenced by a novel lens: the mobile individuals’ career characteristics. By testing our hypotheses with a sample of U.S. accounting, consulting, and law firms between 2012 and 2018, we find that hiring from a higher-status firm has a stronger positive effect on the perception of observers when hired individuals have long tenure and interlocking directorships. Looking through the lens of career characteristics, we explain differences in the credibility perception of mobility events and contribute to a better understanding of the mobility-status relationship.","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2024-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139607729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-18DOI: 10.1177/14761270241228674
Frank Nagle, Robert C. Seamans, Steven Tadelis
Transaction Cost Economics (TCE) theory explains when it is more efficient for a transaction between two parties to occur across the market or within an organization. How does TCE apply in the digital economy, which relies on digital transactions? In this article, we consider how digital transactions help us probe the boundary conditions of TCE and how, despite all the changes wrought by digital transactions, TCE can still provide a useful lens to help scholars and practitioners understand and measure the organization of economic activity and make strategic decisions. We highlight several characteristics of digital transactions and discuss how these characteristics offer opportunities for future research in the fields of strategy, organizations, and economics, and lay out a research agenda for this increasingly important area.
{"title":"EXPRESS: Transaction Cost Economics in the Digital Economy: A Research Agenda","authors":"Frank Nagle, Robert C. Seamans, Steven Tadelis","doi":"10.1177/14761270241228674","DOIUrl":"https://doi.org/10.1177/14761270241228674","url":null,"abstract":"Transaction Cost Economics (TCE) theory explains when it is more efficient for a transaction between two parties to occur across the market or within an organization. How does TCE apply in the digital economy, which relies on digital transactions? In this article, we consider how digital transactions help us probe the boundary conditions of TCE and how, despite all the changes wrought by digital transactions, TCE can still provide a useful lens to help scholars and practitioners understand and measure the organization of economic activity and make strategic decisions. We highlight several characteristics of digital transactions and discuss how these characteristics offer opportunities for future research in the fields of strategy, organizations, and economics, and lay out a research agenda for this increasingly important area.","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2024-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139526121","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-09DOI: 10.1177/14761270241227149
Andrew Barron, Philippe Coulombel
We cross-fertilize insights from corporate political activity (CPA) and open-strategy literatures to propose a research agenda on open political strategy – or greater participation and visibility in firms’ actions aimed at shaping public policy. Incorporating ideas from open-strategy research, CPA scholars can upgrade knowledge about firms’ political actions, and ensure their theorizing keeps pace with contemporary practice. Considering the specificities of CPA, open-strategy scholars can extend the boundaries of their field, and generate fresh insights into how firms open up strategy in contexts previously unexplored. Through a more critical reading of open political strategy, we also raise broader questions – addressing its repercussions for broader society – that should chime more generally with scholars of strategy and organization, especially those interested in firms’ strategic responses to institutional pressures, and the ‘dark sides’ of strategizing and organizing.
{"title":"Open up! An appeal for dialog between scholars of corporate political activity and open strategy","authors":"Andrew Barron, Philippe Coulombel","doi":"10.1177/14761270241227149","DOIUrl":"https://doi.org/10.1177/14761270241227149","url":null,"abstract":"We cross-fertilize insights from corporate political activity (CPA) and open-strategy literatures to propose a research agenda on open political strategy – or greater participation and visibility in firms’ actions aimed at shaping public policy. Incorporating ideas from open-strategy research, CPA scholars can upgrade knowledge about firms’ political actions, and ensure their theorizing keeps pace with contemporary practice. Considering the specificities of CPA, open-strategy scholars can extend the boundaries of their field, and generate fresh insights into how firms open up strategy in contexts previously unexplored. Through a more critical reading of open political strategy, we also raise broader questions – addressing its repercussions for broader society – that should chime more generally with scholars of strategy and organization, especially those interested in firms’ strategic responses to institutional pressures, and the ‘dark sides’ of strategizing and organizing.","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2024-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139443946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-29DOI: 10.1177/14761270231218096
Karynne Turner, Feray Adiguzel, J. Sidhu
The narcissism of chief executive officers (CEOs) is attracting much research interest because of its potential effects on the strategic decisions, financial performance, and competitive standing of firms. This article addresses a significant gap in the literature by analyzing the effect of CEO narcissism on security analysts’ stock recommendations (ASR). As financial-market intermediaries between firms and investors, analysts are an important corporate-governance actor, whose stock recommendations are consequential for the market value of a firm. Drawing on the idea of observers’ implicit leadership theories, we argue that greater CEO narcissism will predict lower ASR because narcissistic CEOs’ penchant for risk taking will lead analysts to categorize them as ineffective leaders. We argue further that signals of corporate inertia conveyed by the age, size, and reputation of firms will positively moderate the CEO narcissism – ASR relationship, because analysts will expect inertia to be offset by narcissistic CEOs’ risk taking, a dynamic likely to improve firm performance. U.S. panel data provides support for the theorized CEO narcissism – ASR relationship and indicates significant moderation effects of the reputation and size of firms. The article discusses the study’s contributions and implications for research and practice.
首席执行官（CEO）的自恋对企业的战略决策、财务业绩和竞争地位具有潜在影响，因此备受研究关注。本文通过分析首席执行官自恋对证券分析师股票推荐（ASR）的影响，填补了这一研究领域的空白。作为公司和投资者之间的金融市场中介，分析师是公司治理的重要参与者，他们的股票推荐对公司的市场价值具有重要影响。借鉴观察者的隐性领导理论，我们认为，CEO 越自恋，ASR 越低，因为自恋的 CEO 越喜欢冒险，分析师就会把他们归类为低效的领导者。我们进一步认为，企业的年龄、规模和声誉所传达的企业惰性信号将积极缓和首席执行官自恋与 ASR 之间的关系，因为分析师会预期惰性会被自恋型首席执行官的冒险行为所抵消，而这种惰性可能会提高企业绩效。美国面板数据为理论上的 CEO 自恋与 ASR 关系提供了支持，并表明公司声誉和规模具有显著的调节作用。文章讨论了该研究的贡献以及对研究和实践的影响。
{"title":"EXPRESS: CEO Narcissism, Corporate Inertia, and Securities Analysts’ Stock Recommendations","authors":"Karynne Turner, Feray Adiguzel, J. Sidhu","doi":"10.1177/14761270231218096","DOIUrl":"https://doi.org/10.1177/14761270231218096","url":null,"abstract":"The narcissism of chief executive officers (CEOs) is attracting much research interest because of its potential effects on the strategic decisions, financial performance, and competitive standing of firms. This article addresses a significant gap in the literature by analyzing the effect of CEO narcissism on security analysts’ stock recommendations (ASR). As financial-market intermediaries between firms and investors, analysts are an important corporate-governance actor, whose stock recommendations are consequential for the market value of a firm. Drawing on the idea of observers’ implicit leadership theories, we argue that greater CEO narcissism will predict lower ASR because narcissistic CEOs’ penchant for risk taking will lead analysts to categorize them as ineffective leaders. We argue further that signals of corporate inertia conveyed by the age, size, and reputation of firms will positively moderate the CEO narcissism – ASR relationship, because analysts will expect inertia to be offset by narcissistic CEOs’ risk taking, a dynamic likely to improve firm performance. U.S. panel data provides support for the theorized CEO narcissism – ASR relationship and indicates significant moderation effects of the reputation and size of firms. The article discusses the study’s contributions and implications for research and practice.","PeriodicalId":22087,"journal":{"name":"Strategic Organization","volume":null,"pages":null},"PeriodicalIF":4.9,"publicationDate":"2023-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139209991","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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