HOW DO CEO EMOTIONS MATTER? IMPACT OF CEO AFFECTIVE TRAITS ON STRATEGIC AND PERFORMANCE CONFORMITY IN THE SPANISH BANKING INDUSTRY

• 成果类型: Article
• 署名作者: Bautista Delgado-Garcia, Juan; Manuel De la Fuente-Sabate, Juan
• 署名单位: Universidad de Burgos
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.817
• 发表日期: 2010
• 页码: 562-574
• 关键词: affects; UPPER ECHELONS; MANAGERIAL DISCRETION; strategic conformity; performance deviation

摘要

Research on how managers influence firm outcomes has generated promising explanations of differences in organizational strategies and performance within a given industry, but has largely ignored the role of emotions in shaping managers' strategic choices. This article analyzes the influence of the affective traits of CEOs-their long-term tendency to experience positive or negative moods or emotions on strategy and performance conformity in a sample of Spanish banks and savings banks. Our results show that managers' negative affective traits are related to more conformist strategies and more typical performance, whereas positive affective traits seem to promote outcomes that deviate from the central tendencies of the industry. Results also show that strategic conformity mediates the relationship between CEO negative affective traits and typical performance. Copyright (C) 2009 John Wiley & Sons, Ltd.