Work

Pay me with fame, not mammon: CEO narcissism, compensation, and media coverage

Year: 2021

Type: article

Abstract: We show that narcissistic CEOs are willing to sacrifice compensation for media coverage. The results of our study imply that firms with high media coverage exploit the narcissistic CEO’s desire for attention and acclaim by granting such a CEO a smaller monetary compensation. Our findings are important in understanding the interplay between CEO narcissism, CEO compensation, and the firm’s media coverage. Our results are statistically significant, robust, and economically meaningful.

Source: Finance research letters

DOI: 10.1016/j.frl.2021.102495

Authors: Tom Aabo, Mikkel Lilholt Jacobsen, Kasper Stendys

Institution: Aarhus University

Language: English

Topic: Corporate Finance and Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $2,200

OpenAlex ID: W3206069779

FWCI: 5.877

Cites: 41

Cited by: 22

Related to: 10