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Chief executive officer narcissism and firm value: The mediating role of corporate social responsibility in the South Korean context
Author(s) -
Yook KeunHyo,
Lee SuYol
Publication year - 2020
Publication title -
corporate social responsibility and environmental management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.519
H-Index - 73
eISSN - 1535-3966
pISSN - 1535-3958
DOI - 10.1002/csr.1918
Subject(s) - corporate social responsibility , narcissism , chief executive officer , business , mediation , context (archaeology) , value (mathematics) , perspective (graphical) , promotion (chess) , personality , public relations , business administration , psychology , social psychology , management , political science , economics , paleontology , machine learning , artificial intelligence , politics , computer science , law , biology
This study analyzes whether narcissism in chief executive officers (CEOs) affects firm value through the promotion of corporate social responsibility (CSR) initiatives. Employing the upper‐echelons perspective, we present a research framework for the relationship between CEO narcissism and firm performance with CSR as the mediation variable. The results of the regression analysis of 265 firm‐year South Korean samples from 2010 to 2016 indicate that CEO narcissism promotes CSR initiatives and CSR enhances firm value in the capital market. However, the results do not provide evidence that CSR mediates the link between CEO narcissism and desirable organizational outcomes. The findings of this study build a better theoretical and practical understanding of the antecedents and consequences of CSR from the CEO's psychological personality perspective.