CEO Narcissism, Human Capital, and Firm Value

Firms with narcissistic CEOs are more likely to experience the turnover of non-CEO executives; this effect is amplified for executives with pay closer to the CEO's pay. Stock price reactions to narcissism-induced departures are more negative the longer the non-CEO executive's tenure. If long-tenured non-CEO executives have more valuable human capital, the results imply a relation between CEO narcissism and the loss of valuable human capital. We find parallel results for mass layoffs of non-executive, rank-and-file employees. Our findings imply that CEO narcissism impacts firm value through its effect on the retention of valuable human capital

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Year of publication:	2020
Authors:	Johnson, Shane A.
Other Persons:	Kolasinski, Adam C. (contributor) ; Nordlund, James (contributor)
Publisher:	[2020]: [S.l.] : SSRN
Subject:	Humankapital \| Human capital \| Unternehmenswert \| Firm value \| Führungskräfte \| Managers \| Unternehmenserfolg \| Firm performance

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Extent:	1 Online-Ressource (72 p)
Series:	Mays Business School Research Paper ; No. 3209882
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 21, 2018 erstellt
Other identifiers:	10.2139/ssrn.3209882 [DOI]
Classification:	M12 - Personnel Management ; M51 - Firm Employment Decisions; Promotions (hiring, firing, turnover, part-time, temporary workers, seniority issues) ; M54 - Labor Management (team formation, worker empowerment, job design, tasks and authority, job satisfaction) ; g40
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012851914