Believing one's own press: The causes and consequences of CEO celebrity

• 成果类型: Review
• 署名作者: Hayward, MLA; Rindova, VP; Pollock, TG
• 署名单位: University of Colorado System; University of Colorado Boulder; University System of Maryland; University of Maryland College Park
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.405
• 发表日期: 2004
• 页码: 637-653
• 关键词: celebrity; CEO hubris; media; strategic decision making; over-confidence

摘要

This theoretical article introduces the construct of CEO celebrity in order to explain how the tendency, of journalists to attribute a firm's actions and outcomes to the volition of its CEO affects such firm. In the model developed here, journalists celebrate a CEO whose firm takes strategic actions that are distinctive and consistent by attributing such actions and performance to the firm's CEO. In so doing, journalists over-attribute a firm's actions and outcomes to the disposition of its CEO rather than to broader situational factors. A CEO who internalizes such celebrity will also tend to believe this over-attribution and become overconfident about the efficacy of her past actions and future abilities. Hubris arises when CEO overconfidence results in problematic firm decisions, including undue persistence with actions that produce celebrity. Copyright (C) 2004 John Wiley Sons, Ltd.