CEO Hubris and Firm Performance: Exploring the Moderating Roles of CEO Power and Board Vigilance

Journal of Business Ethics 147 (4):919-933 (2018)

Abstract
This study focuses on CEO hubris and its detrimental effect on corporate financial performance along with an examination of critical corporate governance contingencies that may moderate the negative effect. From 654 observations of 164 Korean firms over the years 2001–2008, we found that CEO power exacerbated the negative effect of CEO hubris on corporate financial performance, whereas board vigilance mitigated it. This study provides empirical evidence that entrenchment problems arising from CEO hubris would be exacerbated as CEOs become more powerful, but weakened as board of directors become more vigilant. Theoretical contributions and practical implications will be discussed.
Keywords No keywords specified (fix it)
Categories (categorize this paper)
ISBN(s)
DOI 10.1007/s10551-015-2997-2
Options
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

Our Archive


Upload a copy of this paper     Check publisher's policy     Papers currently archived: 40,625
External links

Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library

References found in this work BETA

Add more references

Citations of this work BETA

Add more citations

Similar books and articles

Board Structure and Performance in an Emerging Economy: Turkey.Nisan Selekler-Goksen & Abdulmecit Karatas - 2008 - International Journal of Business Governance and Ethics 4 (2):132-147.
Director Independence and Performance of Listed Companies: Evidence From Malaysia.Rashid Ameer, Anuar Nawawi & Fairuz Ramli - 2010 - International Journal of Business Governance and Ethics 5 (4):280-300.
Board Openness During an Economic Crisis.Kangtao Ye, Jigao Zhu & Sunny Sun - 2015 - Journal of Business Ethics 129 (2):363-377.
End Spurt in Vigilance.Bruce O. Bergum & Donald J. Lehr - 1963 - Journal of Experimental Psychology 66 (4):383.

Analytics

Added to PP index
2016-02-04

Total views
20 ( #409,386 of 2,242,372 )

Recent downloads (6 months)
5 ( #401,760 of 2,242,372 )

How can I increase my downloads?

Downloads

My notes

Sign in to use this feature