Are All Narcissistic CEOs Socially Responsible? An Empirical Investigation of an Inverted U-Shaped Relationship Between CEO Narcissism and Corporate Social Responsibility

Abstract

We investigate the relationship between CEO narcissism and corporate social responsibility (CSR). We suggest an alternative to the current assumption of a linear relationship between CEO narcissism and CSR. Instead, we propose an inverted U relationship between the two. Although narcissistic CEOs may engage in CSR, we argue that highly narcissistic CEOs may be drawn to actions that would garner greater attention and they may be less inclined to engage in CSR. Based on a sample of Fortune 500 firms during the period 2006–2013, we find support for an inverted U relationship and support for our arguments that CEO power moderates the relationship between CEO narcissism and CSR.