Female CEOs with a squeeze of narcissism: A perfect cocktail for corporate performance?

TY - JOUR

T1 - Female CEOs with a squeeze of narcissism: A perfect cocktail for corporate performance?

AU - Aabo, Tom

AU - Rønnow, Sara Korsdal

PY - 2024/5

Y1 - 2024/5

N2 - Narcissism is prevalent in the upper echelons, and CEO narcissism has been shown to affect corporate outcomes (although not corporate performance in a significant and robust way). We argue that narcissism may be performance enhancing in the context of female CEOs because female CEOs are unique – based on both nurture (i.e., the double bind) and nature (i.e., evolutionary traits) – in being able to exploit the bright sides of narcissism while moderating its dark sides. Our empirical results support our arguments. Thus, we find that narcissistic, female CEOs beat their male peers in terms of corporate performance.

AB - Narcissism is prevalent in the upper echelons, and CEO narcissism has been shown to affect corporate outcomes (although not corporate performance in a significant and robust way). We argue that narcissism may be performance enhancing in the context of female CEOs because female CEOs are unique – based on both nurture (i.e., the double bind) and nature (i.e., evolutionary traits) – in being able to exploit the bright sides of narcissism while moderating its dark sides. Our empirical results support our arguments. Thus, we find that narcissistic, female CEOs beat their male peers in terms of corporate performance.

KW - Behavioral corporate finance; Gender; CEO narcissism; Corporate performance

KW - CEO narcissism

KW - Corporate performance

KW - Gender

KW - Behavioral corporate finance

UR - http://www.scopus.com/inward/record.url?scp=85192290368&partnerID=8YFLogxK

U2 - 10.1016/j.frl.2024.105469

DO - 10.1016/j.frl.2024.105469

M3 - Journal article

SN - 1544-6123

VL - 64

JO - Finance Research Letters

JF - Finance Research Letters

M1 - 105469

ER -