We examine whether the stronger information content of Chief Financial Officer (CFO) insider trading relative to that of Chief Executive Officers (CEOs) results from a different willingness to exploit the information asymmetry that exists between executives and outside shareholders (scrutiny...

This chapter assesses the behavior of corporate managers and boards of directors within the framework of agency theory, stewardship theory, and psychological biases. In agency theory, a chief executive officer (CEO) is motivated to act in his or her own best interests rather than those of...

Narcissistic CEOs tend to act to preserve a favorable public image. We content that in their avoidance of behaviors that might harm their reputation as a great leader, a narcissistic CEO minimizes actions that cause corporate misconduct. Consistent with our hypothesis, we find empirical evidence...