Abstract
This study proposes an unobtrusive measure of the self-monitoring of chief executive officers (CEOs). Using CEOs’ appearance sin the news, popularity, and compensation transparency, we examine the effect of CEO self-monitoring on firms’ innovation strategy and innovation performance. A dataset of 105 CEOs in U.S.-based firms operating in an array of innovation-intensive industries between 1998 and 2018 inclusive show that self-monitoring in CEOs is positively related to innovation fluctuation as well as innovation mildness, and it stimulates efficacy and efficiency of innovation performance. The results suggest that high self-monitoring CEOs favor innovation decisions that drive social acceptance, resulting in high fluctuations in innovation strategies over time, but that overall tend to stay in line with other firms’ innovation strategies. In these industries, their firms’ innovation performance is generally better than that of firms with low self-monitoring CEOs.
Published Version
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