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1
Egelstig, Malin, and Simon Ekizean. "Finns det ett samband mellan ledningsgruppens sammansättning och risken i företaget?" Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-202304.
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Sammansättningen i svenska börsnoterade bolags ledningsgrupper består till stor del av medelålders män med svensk härkomst. Mångfalden i dagens Sverige återspeglas därmed inte i näringslivets topp, vilket kan leda till negativa konsekvenser för både företag och samhället i stort. Med hjälp av en välkänd teori inom den strategiska forskningen, the upper echelon theory, och tidigare forskning inom området ämnar vi förklara samband mellan risknivån i företag och ledningsgruppens sammansättning i form av ålder och kön. Vi har genomfört en kvantitativ studie där vi samlat in data om 1991 ledningsgrupper, vilka tillsammans omfattar nästan 14 000 observerade ledande befattningshavare. Den statistiska undersökningen har resulterat i att samband har anträffats mellan risken i företaget och ledningsgruppens sammansättning avseende både kön och ålder. Vi har dessutom funnit att branschen har en viss påverkan på vilka personer som ingår i ledningsgruppen.
2
Simonsson, Linda, and Karlsson Frida. "Hur upplever en soloföretagare sin allra första rekrytering? : En entreprenörs upplevda hinder, möjligheter och tankeprocess." Thesis, Linnéuniversitetet, Institutionen för organisation och entreprenörskap (OE), 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-65517.
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Det finns mycket forskning kring entreprenörskap samt rekrytering, dock är soloföretagarens upplevelse av sin första rekrytering ett outforskat område. Genom en kvalitativ forskningsmetod vill vi få en ökad förståelse för hur en soloföretagare upplever hinder och möjligheter när de tar sitt beslut om att bli arbetsgivare. Vi har fått en ökad förståelse genom att vi har genomfört en fokusgrupp samt fyra semistrukturerade intervjuer. De fick själva lyfta fram sina egna erfarenheter samt perspektiv på hur anställningen upplevdes. Vi har i denna studie valt att utgå från två dimensioner kön och ålder då vi har generella uppfattningar om att det kan skilja sig åt mellan dem. Studiens entreprenörer har yttrat sig om att de upplevt både hinder och möjligheter i samband med sin första rekrytering. Ytterligare har vi även en generell uppfattning om att anställa är ett mer riskfyllt beslut i jämförelse med att hyra in sina medarbetare. Studien visade dock att vår generella uppfattning endast stämde överens med två av våra entreprenörer.
3
Husell, Ida, and Emma Moen. "Styrelsens oberoende och dess samband med företagets prestation." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-447763.
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Med bakgrund i tidigare forsknings tvetydiga resultat samt avsaknad av studier för svensk marknad ämnar denna studie undersöka huruvida styrelsens oberoende har ett samband med företagets finansiella prestation hos svenska börsnoterade företag. Urvalet baseras på bolag noterade på Nasdaq Stockholm Large-, Mid- och Small Cap samt Nordic Growth Market för åren 2014–2019 med totalt 478 observationer. Med hjälp av multipel regressionsmetod studerades styrelsens oberoende i förhållande till två prestationsmått, Return on Assets (ROA) och Tobins Q. Studien finner inget signifikant samband mellan styrelsens oberoende och företagets finansiella prestation oavsett vilket mått som används. Resultaten är robusta även för test över tidsperioden 2017–2019. Studiens resultat analyseras i relation till tidigare forskning samt agentteori och upper echelon theory. Utfallet för denna studie går inte i linje med teoriernas antaganden eller tidigare forskning i Europa, därav anses ytterligare studier krävas för att säkerställa sambandet.
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Sebaa, Ali A. "The importance of aligning managerial characteristics to functional strategy in public sector organisations: An empirical study of Dubai government." Thesis, University of Bradford, 2010. http://hdl.handle.net/10454/4885.
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Managerial characteristics have an important influence on strategy
implementation. Previous studies have looked at the alignment of
managerial characteristics with strategic type and aspects of performance.
In all cases, the focus has been on corporate strategy and, predominantly,
in private sector organisations. This study combines these objectives and
investigates alignment between managerial characteristics, strategy and
perceived performance. It focuses on management at the functional level in
a public sector setting and demonstrates that classical upper-echelon theory
is also relevant when applied at the functional level of management.
The Miles and Snow (1978) typology is applied to the functional strategy for
Dubai government organisations, to investigate whether functional units
pursuing strategies are led by functional managers with dissimilar attributes,
and whether the alignment between managerial characteristics and strategy
is related to performance of the functional unit.
Based on the extant literature, a research model has been developed,
which yields two types of hypothesis. Data was collected by means of
interviews and surveys to obtain knowledge of strategy types, and
demographic and psychological characteristics for the functional managers.
Regression techniques have been used for data analysis rendering support
for two types of hypothesis. Consequently, this study supports the view that
Upper Echelon theory can also apply at the functional level, emphasising
the role of the functional managers, at the lower management levels of the
organisations, in strategy implementation.
5
Gustafsson, Peter, and Eda Uysal. "CEO? Or More Like RiskEO? : A Cross-Sectional Study of CEO Characteristics and Firm Risk-Taking." Thesis, Umeå universitet, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-149641.
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Risk is something intrinsic to business, and something firms are exposed to on a daily basis. This means that there exists a great deal of pressure on the Top Management of a firm to successfully navigate the different risks to which they are exposed. The CEO holds a unique position in the firm, as she is ultimately responsible for deciding which strategies to employ in order to properly respond to these risks. But what influenced the CEO when making such decisions? The Upper Echelon Theory suggests that decisions made by the Top Management Team of a firm are influenced by their values and their cognitive base, which is formed throughout their upbringing. Researchers on Upper Echelon Theory suggest that these two abstract constructs can be difficult to measure and analyse, and should therefore be approximated using specific and observable characteristics of the Top Management Team. In our study, this theory has applied to Swedish CEOs as they are the ultimate decision-maker in a firm. The specific characteristics observed and analysed in our investigation into the relationship between the CEO and risk are; gender, age, nationality, and tenure. Thus, the purpose of this study is formulated as follows: “The purpose of this study is to investigate the relationship between CEO characteristics, specifically age, gender, tenure, and nationality, and firm risk-taking, as measured by the leverage ratio, stock return volatility, cash holdings, and R&D expenditure, on the Swedish market. As a sub-purpose, we intend to investigate whether there is a nonlinear relationship between CEO tenure and risk-taking.” By collecting data from the databases, Thomson Reuters Eikon and Amadeus, a dataset of 284 firms and their CEOs was collected and used in the cross-sectional analysis. Multiple linear regression analysis was employed to determine the relationships between the previously mentioned CEO characteristics and the proxies for firm risk-taking. The majority of the relationships found were of a non-significant nature, indicating that the relationship between Swedish CEO characteristics and the strategies they employ when running their firms is weak and differs from relationships found in earlier studies, using data from different markets. The significant relationships found were between cash holdings and age, long tenures and leverage ratio, and short tenures and stock return volatility. This indicates that older CEOs are more risk-averse, while longer seated CEOs maintain less debt, and shorter seated CEOs are perceived as more risky by the market. However, as these results only entail 15% of our observed results, none of the hypotheses constructed for this study were verified. Therefore, our conclusion is that the previously observed relationships between the characteristics of CEOs and their risk-taking is not present within our sample of firms listed on the Swedish market. Some tendencies that align with previous results have been found but are not generalisable and as a result, we cannot recommend that private actors act on these results.
6
Sebaa, Ali Ahmed. "The importance of aligning managerial characteristics to functional strategy in public sector organisations : an empirical study of Dubai government." Thesis, University of Bradford, 2010. http://hdl.handle.net/10454/4885.
Full textAbstract:
Managerial characteristics have an important influence on strategy implementation. Previous studies have looked at the alignment of managerial characteristics with strategic type and aspects of performance. In all cases, the focus has been on corporate strategy and, predominantly, in private sector organisations. This study combines these objectives and investigates alignment between managerial characteristics, strategy and perceived performance. It focuses on management at the functional level in a public sector setting and demonstrates that classical upper-echelon theory is also relevant when applied at the functional level of management. The Miles and Snow (1978) typology is applied to the functional strategy for Dubai government organisations, to investigate whether functional units pursuing strategies are led by functional managers with dissimilar attributes, and whether the alignment between managerial characteristics and strategy is related to performance of the functional unit. Based on the extant literature, a research model has been developed, which yields two types of hypothesis. Data was collected by means of interviews and surveys to obtain knowledge of strategy types, and demographic and psychological characteristics for the functional managers. Regression techniques have been used for data analysis rendering support for two types of hypothesis. Consequently, this study supports the view that Upper Echelon theory can also apply at the functional level, emphasising the role of the functional managers, at the lower management levels of the organisations, in strategy implementation.
7
Charas, Solange. "DOES UPPER ECHELONS TEAM DYNAMIC MATTER? THE CRITICALITY OF EXECUTIVE TEAM BEHAVIOR IN ECONOMIC VALUE CREATION." Case Western Reserve University School of Graduate Studies / OhioLINK, 2014. http://rave.ohiolink.edu/etdc/view?acc_num=case1395319255.
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8
Grant, Navneet Chattha. "FACTORS INFLUENCING WILLINGNESS TO ADOPT ADVANCED ANALYTICS IN SMALL BUSINESSES." Cleveland State University / OhioLINK, 2020. http://rave.ohiolink.edu/etdc/view?acc_num=csu1599811292346464.
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9
Bodin, Kristiansen Malin, and Alexander Johnson. "Faktorer bakom adoption av styrmodeller : Tio svenska stora företag med olika strukturella attribut." Thesis, Luleå tekniska universitet, Institutionen för ekonomi, teknik och samhälle, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:ltu:diva-64323.
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Syftet med examensarbetet är att beskriva och kartlägga hur adoptionen av styrmodeller kan se ut i stora företag och utifrån detta identifiera vilken betydelse olika faktorer karaktäriserade av individuella-, organisationella- och omvärldsaspekter som påverkar adoptionen. Detta för att öka kunskapen om vilka faktorer som kan ligga bakom adoptionen av styrmodeller och hur dessa påverkar. Vidare är syftet att explorativt finna mönster mellan påverkande faktorer och företags strukturella attribut för att se hur möjliga kopplingar till företagens strukturer kan se ut. Studien bidrar därmed iutvecklingen av ett mer holistiskt synsätt. För att uppnå syftet utgår studien från sju faktorer; rationella och effektiva, psykodynamiska, retoriska och mode, politiska, kulturella, tvingande samt härmande och trender som på olika sätt påverkar adoptionen inom företag. Studien genomfördes genom kvalitativa intervjuer med tio stycken stora företag i Norrbotten med olika attribut inom ledartyp, ägarform och koncernförhållande. Företagens deltagare utgjordes av beslutsfattare med höga positioner inom företaget medinsikt i adoptionsprocessen som ingående kunde förklara händelser som påverkade adoptionen. Resultaten indikerar på att samtliga sju faktorer i olika grad påverkar företagens adoption av styrmodeller. Framförallt var de rationella och effektiva faktorerna klart framträdande som den faktor med högst påverkan inom samtliga företag eftersom att adoptionsbeslutet ofta grundade sig i någon form av problem eller kris. Resterande faktorer påverkade i olika utsträckning, där det fanns antydningar om mönster mellan faktorer och företagens strukturella attribut. Studien formulerade sex hypoteser kopplat till funna mönster mellan faktorer och företagens strukturella attribut.The purpose of this thesis is to describe and map how the adoption of management practices works in large companies and to identify the importance of different factors characterized of individual, organizational and environmental aspects that can affect the adoption. This to increase knowledge about the underlying factors that might affect the adoption of management practices. Furthermore, the purpose is to exploratively find patterns between influencing factors and corporate structural attributes to identify how possible connections to corporate structures may exist. This study contributes to the development of a more holistic approach. To achieve the purpose, the study is based on seven different factors; Rational and effective, psychodynamic, rhetorical and fashion, political, cultural, forced-selection (coercive), and imitation (mimetic) and trends that affect business adoption in various ways. This study was conducted through qualitativeinterviews with ten large companies in Norrbotten with different attributes in the management type, ownership and corporate relationship. The companies’ participants consisted of high-level decision-makers within each company with insight into the adoption process, which could thus explain in detail the events that affected the adoption. The results indicate that all seven factors influence the companies’ adoption of management practices to a different extent. In particular, the rational and effective factors were clearly prominent as the factors with the highest impact within all companies, because the adoption decision was often based on some kind of problem or crisis. Remaining factors affected to varying degrees, where there were indications of patterns between factors and the company's structural attributes. The study formulated six hypotheses linked to found patterns between factors and the company's structural attributes.
10
Björkegren, Emilia, and Rebecca Lind. "Frivillig rapportering och personliga egenskaper : En kvantitativ studie om hur CEO:ers respektive CFO:ers personliga egenskaper påverkar den frivilliga rapporteringen hos svenska börsnoterade företag." Thesis, Linköpings universitet, Företagsekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-166806.
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Intresset för frivillig rapportering har under de senaste åren ökat. Tidigare studier har fått varierande resultat avseende vad som påverkar företags frivilliga rapportering, men managers personliga egenskaper har antagits kunna ha en påverkan. Syftet med studien är att förklara hur personliga egenskaper, som CEO:er respektive CFO:er i svenska börsnoterade företag besitter, påverkar den frivilliga rapporteringen i företagens årsredovisningar. Såväl påverkan på den totala mängden frivillig information som på vilka kategorier av frivillig information som läggs vikt vid studeras. Studien visade att kvinnliga CFO:er bidrar positivt till den totala mängden frivillig rapportering och att CFO:ers personliga egenskaper generellt har en större påverkan än CEO:ers personliga egenskaper på den frivilliga rapporteringen. Managers personliga egenskaper visades påverka den totala mängden frivillig rapportering mer än vilka kategorier som läggs vikt vid. Dock visade resultatet också på att agentteorin och de systemorienterade teorierna bättre förklarar vad som påverkar frivillig rapportering än vad managers personliga egenskaper gör. Studien bidrar till ökad kunskap om vad som påverkar företagens frivilliga rapportering. Genom att utgå från företagens CEO respektive CFO bidrar studien med förståelse för hur personliga egenskaper hos dessa påverkar den frivilliga rapporteringen, både den totala mängden och vilka kategorier av information som läggs vikt vid.
11
Karat, Alma, and Adila Malik. "Effektivitet och kvalitet – Den demografiska mångfaldens påverkan på strategiska beslut : En kvantitativ studie om den demografiska mångfaldens påverkan på strategiska beslut i ledningsgruppen." Thesis, Högskolan Kristianstad, Fakulteten för ekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:hkr:diva-20812.
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Studien omfattar 50 observationer av bolag inom First North och undersöker två hypoteser relaterade till demografisk mångfald inom ledningsgrupper och strategiska beslut. I studien förväntades demografisk mångfald ha en negativ påverkan på effektiva strategiska beslut och en positiv påverkan på strategiska beslut av kvalitet. Hypoteserna accepterades delvis och studien konstaterade att endast en del av de demografiska karaktärsdragen har en påverkan på strategiska beslut.The study contains 50 observations of companies in First North and examine two hypothesises related to demographic diversity in top management teams and strategic decisions. The study expected demographic diversty as having a negative impact on effective strategic decisions and have a positive impact on quality of strategic decisions. The hypothesises showed partial support and found that only some of the demographic characteristics had an impact on strategic decisions.
12
Hoffmann, Werner H., and Lukas Meusburger. "How CEO Values and TMT Diversity Jointly Influence the Corporate Strategy Making Process." Springer Nature, 2018. http://dx.doi.org/10.1007/s41464-017-0042-y.
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Understanding managerial behavior and its underlying motivations is
of key interest in times where the role of business in society is generally viewed
critically. While CEO influence on strategy making processes is almost undisputed,
little attention has explicitly been paid to how CEO values and the characteristics
of the top management team (TMT) interact in shaping corporate strategy making.
This is surprising if one follows the assumption that top managers who work closely
together will by necessity influence each other's actions. Hence, we would expect the
CEO-TMT interface to be vital in understanding how leadership influences strategy
making. To address this, we propose a model in which the personal values of the CEO
have a direct effect on the characteristics of corporate strategy making processes yet
where this association is moderated by TMT diversity. We test the model with
data from Austria and Germany obtained through a large-scale survey conducted in
spring 2015 and a follow-up survey conducted in fall 2015 and find general support
for our model. CEO values geared towards self-transcendence (as opposed to selfinterest)
seem to be associated with more formal strategy making processes, while
values geared towards openness to change (as opposed to conservation) are found
to be associated with more flexible and less externally open ones. TMT diversity
moderates all of these relationships. Our results add to upper echelon theory as well
as to strategy process research and highlight promising avenues for future research.
13
Altinsoy, Nuh. "The organizational alignment in terms of strategy and leadership attributes: an empirical study of their interaction and impact on organizational performance." Doctoral thesis, 2009. http://hdl.handle.net/10071/4448.
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L10, L20Several researches have been made about organizational alignment in terms of strategy - managerial characteristics, their interactions and their impacts on organizational performance since the publications of two seminal publications- Miles and Snow (1978) and Hambrick and Mason (1984). The main objective of this study is to extend these previous researches made in this field by developing and testing “A Comprehensive Approach for Performance (CAP)” model for a better performance explanation/ assessment in the military environment. This model tries to prove that attaining a fit between the organization and the target strategy contribute toward a better performance. In addition to this fit concept, the CAP model also tests the organizational configuration and equifinality concepts in the same environment. The study also focuses on the interaction between the managerial characteristics and strategic choice via the CAP model. It provides empirical evidence that some similarities and patterns between the managerial characteristics and organizational strategy don’t happen coincidentally but bases on some organizational concepts and reality. Lastly, the model argues that managerial characteristics in line with the organizational strategy influence and improve performance. Nevertheless, its prerequisite is to obtain the alignment between the selected strategy and leadership characteristics. The empirical results show that the fit between strategy and managerial characteristics, to a certain degree, has impact on the organizational performance as well.
Várias pesquisas foram efectuadas sobre o alinhamento organizacional em termos de estratégia - características de gestão, as suas interacções e os seus impactos no desempenho organizacional, após a publicação de duas publicações - Miles e Snow (1978) e Hambrick e Mason (1984). O principal objectivo deste estudo é extender estas pesquisas, anteriormente realizadas neste domínio, desenvolvendo e testando o modelo "Uma Abordagem Abrangente para a Performance (PAC)" para uma melhor explicação do desempenho / avaliação no ambiente militar. Esse modelo tenta provar que um ajuste entre a organização e a estratégia contribui para um melhor desempenho. Além deste conceito fundamental, o modelo PAC também testa a configuração organizacional e a equifinalidade no mesmo ambiente. O estudo também se foca na interacção entre as características de gestão e da estratégica, escolhida através do modelo PAC. Ele fornece uma evidência empírica de que algumas semelhanças e padrões entre as características de gestão e a estratégia organizacional não acontecem por acaso, mas baseiam-se em alguns conceitos organizacionais e na realidade. Por último, o modelo sustenta que as características de gestão em conjugação com a estratégia organizacional influenciam e melhoram o desempenho. No entanto, o pré-requisito é o de obter alinhamento entre a estratégia escolhida e as características de liderança. Os resultados empíricos mostram que o ajuste entre a estratégia e as características de gestão, até certo ponto, têm impacto no desempenho organizacional.
14
Yung, Yan Shang, and 顏善勇. "The Application of Upper Echelon Theory to Design Chain Decision in Powered Mobile Aids Industry." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/33863509273165492517.
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碩士長庚大學
工業設計研究所
93
“Design Chain” collaborates R&D among companies via the internet, this measure has been applied in technical integration of automobile and IT industries which would reach the effectiveness of product innovation and resource integration. Through to generalize related documents, this paper compares design chain with other cooperative measures, finding design chain is a kind of advanced research consortium including strategies, processes and techniques. Mobile aids industry is the most thriving business in health equipment industry. The powered mobile aids industry (including powered wheelchair, scooter and manual wheelchair) is small scale and emphasize its requirement of cooperative R&D measures. This paper will probe into the decision of design chain strategy in mobile aids industry, including the character of mobile aids industry, the intension of constructing design chain, possible operation mode of collaborated R&D and the factors of design chain strategy. In order to realize inter-company R&D collaboration of mobile aids industry, this paper applies “Upper Echelons” to design the research structure and questionnaires, also through interview of top management. To acquire approach general survey results and ideas of top management in representative companies about the utility of design chain in mobile aids industry. Through the statistics and analysis of questionnaires, this paper infers the model of design chain decision in mobile aids industry. This model would find the character of industry is the most effective factor in the design chain strategy of mobile aids industry. The other way, this paper through statistics data and results of interviews, concluding the character and intention of R&D collaboration in mobile aids industry. These researches will make useful suggestion to industry, government and the academic to think over their R&D collaboration strategy.
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"When, How, and So What: Three Essays on Managerial Practice of Personal Tie Utilization in Organizations." Doctoral diss., 2014. http://hdl.handle.net/2286/R.I.25854.
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abstract: Over the past several decades, social network remains the most prevalent and prominent in the strategy and organization theory literature. However, despite the considerable research attention scholars devoted to exploring the implications and mechanisms of social ties and networks in management and organizational contexts, the following question has largely remained understudied: To what extent can top managers' personal ties and networks actually contribute to their firms? This thesis will strive to explore this research question by theoretically highlighting three logically consequent managerial decisions: (1) "When"--when will top managers choose to use their personal ties and networks in their firms; (2) "How"--will top managers use their managerial ties and networks to serve the best interest of their firms or to satisfy their self-interests; and (3) "So what" --how would the decision of using managerial ties and networks to benefit their firms influence other decisions of the firms. Using both primary data and archival information from Chinese firms, I will empirically test the step-wise framework. I expect this thesis to contribute to both strategic leadership and social network research and management practices.Dissertation/Thesis
Doctoral Dissertation Business Administration 2014
16
Huijsmans, M. C. "The influence of executive board national culture and board nationality diversity on corporate social performance in Western European non-financial firms." Thesis, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-316464.
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This paper examines the effect of executive board-level national culture and board nationality diversity on corporate social performance (CSP). The sample constitutes of 130 executive boards of non-financial firms from Germany, France, the Netherlands, Sweden, Switzerland and the UK over the time period 2010-2014. Based on the upper echelon theory and the notion of national culture, board-level national culture is determined across Hofstede’s dimensions of power distance, individualism, masculinity and power distance. In this paper, no evidence is provided of a significant relationship between board-level national culture and the corporate social performance of the firm. In addition, nationality diversity as a double-edged sword could both enhance and hamper CSP. In this research, no significant relationship between board nationality diversity and CSP is found. In conclusion, alterations of the board composition in terms of nationality in order to foster CSP seem unjustified based on the results of this paper.
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Kloosterman, Sander. "The impact of CEO overconfidence on firm innovation performance and the moderating effect of firm specific factors within the pharmaceutical industry." Master's thesis, 2019. http://hdl.handle.net/10362/69611.
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The influence of overconfident CEOs on their firms, and more particularly the level of
innovativeness of the firm is gaining more attention in the current complex business
environment. In addition, the ways in which CEO personality traits influence organisational
outcomes are of interest to several disciplines, as is reflected in the research available.
Using several regression models, this thesis examines the moderating impact of three
firm-specific factors (organisational slack, firm leverage and firm growth) on the relationship
between CEO overconfidence and firm innovation performance. The study includes data from
2011-2016 of 85 different firms within the global pharmaceutical industry, resulting in 479
firm year observations.
Results show that the initial positive relationship between CEO overconfidence and
firm innovation performance is not supported (H1). Despite this insignificant outcome, the
findings suggest a positive moderating effect of organisational slack (H2) on the relationship
between CEO overconfidence and firm innovation performance. No moderating effect could
be established for firm leverage (H3) or firm growth (H4) on the relationship between CEO
overconfidence and firm innovation performance, preventing us from drawing any further
inferences.
Based on this research, firms are recommended to set sensible targets for organisational
slack as this allows for appropriate funding of innovative projects which can have both
significant direct and indirect effects on the innovation performance of a firm.
18
Vermaut, David. "CEO overconfidence and the influence on firm innovation: s study about well-established multinationals during 2008-2016." Master's thesis, 2018. http://hdl.handle.net/10362/39719.
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Previous research has mainly investigated the effect of CEO overconfidence on financial outcomes. However, only little research has been conducted about the influence of CEO overconfidence on firm innovation. Moreover, no studies have examined when CEO background characteristics such as tenure and power distance, influence the latter relationship. Consequently, the purpose of this master’s thesis is to analyze the impact of CEO overconfidence on firm innovation, and to explore whether tenure and power distance influence this relationship.
Using shareholder letters to measure overconfidence, the results indicate that over the 2008-2016 period, CEO overconfidence positively influences firm innovation for well established-multinationals active in non-innovative industries. Nonetheless, for well-established multinationals in innovative industries, there exists no relationship between CEO overconfidence and innovation. Furthermore, in line with the theoretical research, the findings demonstrate a negative moderating impact of tenure in both innovative and non-innovative industries. Unlike CEO tenure, the influence of CEO power distance could not be investigated due to correlational issues with both CEO overconfidence and CEO tenure.
By highlighting the importance of CEO overconfidence in explaining a valuable organizational outcome such as firm innovation and by unveiling the moderating impact of CEO tenure, the thesis contributes to the existing upper-echelons and tone-at-the-top literature.