CEO narcissism and firm innovation: the role of contingency factors
Publication Date
July 25, 2026
Creator
Haoxiang Zhang
Abstract
Understanding about the relationship between CEO narcissism and firm innovation performance is mixed and ambiguous, requiring clearer mechanisms and boundary conditions to advance theory. This thesis consists of three interrelated but distinct research chapters, using an unbalanced panel of Chinese high-tech listed firms, which seek to address some of these issues by examining: (1) the mechanism that links CEO narcissism to innovation performance through R&D (research and development) intensity, together with the moderating role of CEO career horizon; (2) how and when CEO narcissism influences firms’ R&D internationalisation; and (3) when and how CEO narcissism affects innovation under different levels of managerial discretion at the individual, organisational, and industry levels.
Chapter two explores whether CEO narcissism improves innovation by channelling resources into R&D and when this path is stronger. Using a moderated mediation model, it shows that CEO narcissism increases R&D intensity, and this input partially mediates a positive link to innovation performance. The effect is stronger when the CEO has a longer career horizon. It clarifies the mechanism from leader traits to innovative outcomes and situates it within upper echelons and the innovation process view. Chapter three examines whether CEO narcissism leads firms to internationalise R&D and when this tendency is stronger. It finds that narcissistic CEOs are more likely to build or expand overseas R&D. A CEO’s overseas experience strengthens this association by widening cognitive frames and reducing perceived uncertainty. The study adds a clear micro-foundational link between executive psychology and cross- border knowledge creation, and the results are robust to alternative measures and checks. Chapter four develops a managerial discretion perspective to identify boundary conditions. It tests moderators at three levels: individual (age, tenure, gender), organisational (CEO duality, state ownership), and industry (munificence, dynamism, complexity). On average, CEO narcissism promotes innovation, but the magnitude depends on context. The effect is stronger with higher age and longer tenure, stronger when the CEO also chairs the board, and stronger in state-owned firms. Industry complexity strengthens the relationship, while munificence and dynamism do not show consistent effects.
Item Type
ethesis
Thesis Type
PhD
Supervisors
Desai, Malay
Nottingham University Business School
Wang Chengqi
Nottingham University Business School
Subjects (LC)
Associated Schools / Departments
UoN Repository URI
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PhD thesis.pdf
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1.64 MB
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Adobe PDF
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