Courting the Sharks: The Influence of CEO Narcissistic Admiration and Rivalry on New Venture Funding

• 成果类型: Article; Early Access
• 署名作者: Sanchez-Ruiz, Paul; Blake, Andrew; Petrenko, Oleg; Maldonado-Bautista, Ileana; Collewaert, Veroniek; Artz, Kendall W.
• 署名单位: Iowa State University; Texas Tech University System; Texas Tech University; University of Oklahoma System; University of Oklahoma - Norman; Vlerick Business School; KU Leuven; Baylor University
• 刊物名称: ORGANIZATION SCIENCE
• ISSN/ISSBN: 1047-7039
• DOI: 10.1287/orsc.2022.17024
• 发表日期: 2025
• 关键词: CEO narcissistic admiration and rivalry; new venture funding; status; Investor sentiment; entrepreneurial pitches

摘要

We draw from the social psychology literature to introduce an alternative conceptualization of executive narcissism-narcissistic admiration and rivalry. In the context of chief executive officers (CEOs) pitching to investors, we theorize how narcissistic CEOs may use distinct behavioral strategies to pursue status, thereby shaping investor sentiment and ultimately affecting investors' funding decisions. Using Shark Tank data, we find evidence that narcissistic admiration and rivalry are associated with opposing patterns in new venture funding, as shaped by investor sentiment. Specifically, CEO narcissistic admiration is positively associated with new venture funding by increasing investor sentiment, whereas CEO narcissistic rivalry is negatively associated with new venture funding by decreasing investor sentiment. These results highlight the need to separate narcissistic admiration and rivalry in executive narcissism research and illustrate the underlying mechanisms through which executive narcissism shapes organizational outcomes. Overall, this study provides new insights into two pathways of executive narcissism and offers evidence consistent with the idea that executive narcissism matters in entrepreneurial contexts.