Believing one's own press: the causes and consequences of CEO celebrity

Hayward, Mathew L. A., Rindova, Violina P. and Pollock, Timothy G. (2004) Believing one's own press: the causes and consequences of CEO celebrity. Strategic Management Journal, 25 7: 637-653. doi:10.1002/smj.405

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Author Hayward, Mathew L. A.
Rindova, Violina P.
Pollock, Timothy G.
Title Believing one's own press: the causes and consequences of CEO celebrity
Journal name Strategic Management Journal   Check publisher's open access policy
ISSN 1097-0266
0143-2095
Publication date 2004-07
Sub-type Critical review of research, literature review, critical commentary
DOI 10.1002/smj.405
Volume 25
Issue 7
Start page 637
End page 653
Total pages 17
Place of publication Chichester, Sussex ; Brisbane
Publisher J. Wiley
Language eng
Subject 15 Commerce, Management, Tourism and Services
Abstract This theoretical article introduces the construct of CEO celebrity in order to explain how the tendency of journalists to attribute a firm's actions and outcomes to the volition of its CEO affects such firm. In the model developed here, journalists celebrate a CEO whose firm takes strategic actions that are distinctive and consistent by attributing such actions and performance to the firm's CEO. In so doing, journalists over-attribute a firm's actions and outcomes to the disposition of its CEO rather than to broader situational factors. A CEO who internalizes such celebrity will also tend to believe this over-attribution and become overconfident about the efficacy of her past actions and future abilities. Hubris arises when CEO overconfidence results in problematic firm decisions, including undue persistence with actions that produce celebrity. Copyright © 2004 John Wiley & Sons, Ltd.
Keyword Celebrity
CEO hubris
Media
Strategic decision making
Over-confidence
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Unknown

Document type: Journal Article
Sub-type: Critical review of research, literature review, critical commentary
Collections: Faculty of Business, Economics and Law -- Publications
Excellence in Research Australia (ERA) - Collection
UQ Business School Publications
 
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Citation counts: TR Web of Science Citation Count  Cited 132 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 156 times in Scopus Article | Citations
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Created: Fri, 22 May 2009, 09:28:47 EST by Maria Campbell on behalf of Faculty of Business, Economics & Law