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CEO们通常不是害羞低调的人。相反,他们特别在意自己在现代版纳西瑟斯的水池中的形象(他们的Zoom头像)。
CEO们往往充满自信,有时候会过度自信,而且有巨大的影响力,因此他们有能力让局势朝对自己有利的方向转变。《压力管理杂志》(Stress Management Journal)最新发表的一篇研究论文,解释了自恋型高管如何说服董事会参与更冒险的行为。
要了解这种操纵行为,最好的方法莫过于从最可靠的消息来源寻找答案。因此,研究人员分析了88家上市公司和197位CEO过去二十年的公司董事会会议记录。研究人员根据CEO的姓名和照片在新闻稿和年报中的突出位置,以及他们的薪酬与下一级领导层成员的薪酬对比,确定公司领导者的自恋程度。
研究团队表示:“自恋型CEO倾向于促使董事会在讨论冒险行为时保持积极态度,特别是当他们自己担任董事会主席时,这让他们可以向冒险的策略分配更多资源。”
这项研究论文的作者称,以往的研究已经发现,自我膨胀的高管与公司承担更多风险之间存在关联。用航海方面的比喻来形容:如果船长过于自大,这艘船就更有可能驶入危险水域。
但这不仅仅与自信心有关。自恋会促使CEO们采取更冒险的行动,以此来强化他们对自己的高评价,并克服障碍,使他们有机会获得更多关注和自我提升的机会。作者引用其他研究的结论称,由于CEO往往以自我为中心,因此他们在决策时也会更专注于潜在收益,而不是损失。
这些CEO们对于冒险的本能,如何得到批准和执行,这是另一回事。关键在于让董事会感到振奋。自恋型高管采取的一种策略是,把所有董事会成员更换成仰慕或认同他们的人,或者至少容易影响的人。毕竟,一屋子“唯唯诺诺”的人,更容易营造积极的前景。
语气也会影响董事会,因为CEO们可能会利用“高涨的热情和信心来争取支持”,这也许是有自恋倾向在支撑,因为自恋的CEO往往极具魅力。自恋型CEO热衷于冒险,会淡化其选择可能带来的负面影响。
最后,研究人员认为,自恋型领导者可以在必要时发挥自己的魅力,使用“软影响技巧实现自己的目的”,包括恭维或建立联系等。
论文的作者解释称,自恋型高管在同时担任董事会主席时,他们操控董事会的能力越强大。研究人员表示,作为董事会主席,他们可以通过决定会议议程(从而决定他们在多大程度上谈论风险),选择听取哪些专家的意见,甚至选择会议地点等,来施加影响力。
研究人员之一、来自怀俄明大学(University of Wyoming)的卡梅隆·J·博格霍尔茨豪斯在关于该论文的新闻稿中表示:“董事会需要注意他们是否具有双重性;以及他们是否要任命CEO担任董事会主席。CEO担任董事会主席可能是好事。但与此同时,有许多政府改革要求董事会承担更多责任,以保证他们不被操控。”(财富中文网)
译者:刘进龙
审校:汪皓
CEO们通常不是害羞低调的人。相反,他们特别在意自己在现代版纳西瑟斯的水池中的形象(他们的Zoom头像)。
CEO们往往充满自信,有时候会过度自信,而且有巨大的影响力,因此他们有能力让局势朝对自己有利的方向转变。《压力管理杂志》(Stress Management Journal)最新发表的一篇研究论文,解释了自恋型高管如何说服董事会参与更冒险的行为。
要了解这种操纵行为,最好的方法莫过于从最可靠的消息来源寻找答案。因此,研究人员分析了88家上市公司和197位CEO过去二十年的公司董事会会议记录。研究人员根据CEO的姓名和照片在新闻稿和年报中的突出位置,以及他们的薪酬与下一级领导层成员的薪酬对比,确定公司领导者的自恋程度。
研究团队表示:“自恋型CEO倾向于促使董事会在讨论冒险行为时保持积极态度,特别是当他们自己担任董事会主席时,这让他们可以向冒险的策略分配更多资源。”
这项研究论文的作者称,以往的研究已经发现,自我膨胀的高管与公司承担更多风险之间存在关联。用航海方面的比喻来形容:如果船长过于自大,这艘船就更有可能驶入危险水域。
但这不仅仅与自信心有关。自恋会促使CEO们采取更冒险的行动,以此来强化他们对自己的高评价,并克服障碍,使他们有机会获得更多关注和自我提升的机会。作者引用其他研究的结论称,由于CEO往往以自我为中心,因此他们在决策时也会更专注于潜在收益,而不是损失。
这些CEO们对于冒险的本能,如何得到批准和执行,这是另一回事。关键在于让董事会感到振奋。自恋型高管采取的一种策略是,把所有董事会成员更换成仰慕或认同他们的人,或者至少容易影响的人。毕竟,一屋子“唯唯诺诺”的人,更容易营造积极的前景。
语气也会影响董事会,因为CEO们可能会利用“高涨的热情和信心来争取支持”,这也许是有自恋倾向在支撑,因为自恋的CEO往往极具魅力。自恋型CEO热衷于冒险,会淡化其选择可能带来的负面影响。
最后,研究人员认为,自恋型领导者可以在必要时发挥自己的魅力,使用“软影响技巧实现自己的目的”,包括恭维或建立联系等。
论文的作者解释称,自恋型高管在同时担任董事会主席时,他们操控董事会的能力越强大。研究人员表示,作为董事会主席,他们可以通过决定会议议程(从而决定他们在多大程度上谈论风险),选择听取哪些专家的意见,甚至选择会议地点等,来施加影响力。
研究人员之一、来自怀俄明大学(University of Wyoming)的卡梅隆·J·博格霍尔茨豪斯在关于该论文的新闻稿中表示:“董事会需要注意他们是否具有双重性;以及他们是否要任命CEO担任董事会主席。CEO担任董事会主席可能是好事。但与此同时,有许多政府改革要求董事会承担更多责任,以保证他们不被操控。”(财富中文网)
译者:刘进龙
审校:汪皓
CEOs aren’t known for being wallflowers. Rather, they’re more likely to be caught having special feelings for their own reflection in the modern equivalent of Narcissus’ pool of water (their Zoom icon).
By nature of their—at times over-inflated—confidence and powerful influence, CEOs are often able to bend situations in their favor. And a newly released study as published by the Stress Management Journal explains how narcissistic executives get their board of directors to engage in more risky behavior.
Where better to understand said manipulation than going to the horse’s mouth? Researchers looked at corporate board meeting transcripts from 88 public firms and 197 CEOs over the past two decades. Researchers measured a leader’s level of narcissism based on the prominence of the CEO’s name and photograph in press releases and annual reports, as well as how much they were paid in comparison to the next-highest paid member of leadership.
“Narcissistic CEOs are prone to drive board discussions about risk-taking to hold a positive tone- especially when they also serve as board chair- thereby enabling them to allocate increased resources to risk-taking strategies,” noted the research team.
An executive having an inflated sense of self-importance has already been linked in past studies to their company taking more risks, according to the study’s authors. To use a maritime metaphor: What’s happening, in part, is if the ship’s captain is cocky,they are more likely to steer into troubled waters.
It’s not just about confidence, though.Narcissism motivates CEOs to take riskier moves as a way of reinforcing their high viewpoint of themselves and overcoming obstacles that give them a chance for greater attention and opportunities for self-enhancement. By nature of being self-centered, they’ll also focus more on potential gains than losses when making a decision, the authors added, referencing other studies.
How these CEOs’ instincts for risk-taking become approved and implemented is another matter. It’s all about making boards of directors feel chipper. One strategy for these narcissistic executives is by stacking the deck with people that admire or agree with them, or at least are easy to influence. It’s easier to create that positive outlook with a room of yes men, after all.
Tone can influence the board, too, as CEOs might use “heightened enthusiasm and confidence to garner support,” perhaps bolstered by a narcissistic tendency to be charismatic. Narcissistic CEOs, being drawn to risk, might downplay the negative potential to their choices.
Lastly, researchers suggest this type of leader might be able to turn on the charm if and when needed, using “soft influence techniques to achieve their purposes,” including flattery or forging bonds.
The narcissistic exec’s ability to sway the board is all the more powerful when they also are the board chair, the authors explained. As chair, they can exert their influence by dictating the meeting agenda (therefore deciding how much they’re walking about the risks), choosing what experts to defer to, and even selecting the location, researchers added.
“Boards need to be careful of when and when they don’t have duality; when they do and don’t give CEOs the title of board chair,” one of the researchers, Cameron J. Borgholthaus of the University of Wyoming, said in a press release for the study. “It can be a good thing, but at the same time a lot of government reforms were done to put more responsibility on the board to ensure they wouldn’t be manipulated.”