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| A Study of the Effect Mechanism of CEO Narcissism on Corporate Strategic Change Based-on Attention-Based View |
| WU Jianzu，GONG Min |
| 1.Lanzhou University ，Lanzhou，China； 2.Xi’an Jiaotong University，Xi’an，China |
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Abstract From the perspectives of upper-echelons theory and attention-based view of firm, we empirically investigate the relationship and its mechanism between CEO narcissism and corporate strategic change, using data from 156 Chinese listed companies which experienced strategic change during 2008 to 2015. The results show that: (1) The higher of the CEO narcissism, the stronger of the strategic change. (2) The higher of the CEO narcissism, the more CEO attention is focused on issues and answers about innovation, risk-taking and proactivity, i.e. the higher of CEO entrepreneurial attention. (3) The CEO entrepreneurial attention partially mediates the effect of CEO’s narcissism on corporate strategy change.
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Received: 30 December 2017
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