بررسی تاثیر ویژگی‌های شخصیتی و سرمایه‌های اجتماعی مدیران عامل کارگزاری‌های بورس بر عملکرد بنگاه‌های مربوطه

نویسندگان

1 استادیار دانشگاه علامه طباطبایی

2 فارغ التحصیل کارشناسی مدیریت دانشگاه علامه طباطبایی

چکیده

در این پژوهش، رابطه میان ویژگی های خودشیفتگی و خودارزشیابی محوری و نیز سرمایه‌ اجتماعی داخلی و خارجی مدیران عامل کارگزاری‌های بورس اوراق بهادار با عملکرد بنگاه ها مورد مطالعه قرار گرفت. این رابطه از طریق سه عامل میانجی گرایش کارآفرینانه، رهبری تحول‌گرا و شهرت (مبتنی بر دیدگاه قابلیت‌های پویا) مورد بررسی قرار گرفت. در این پیمایش  53 مدیر عامل کارگزاری‌های بورس اوراق بهادار تهران شرکت داشتند. داده ها با استفاده از پرسشنامه‌ای متشکل از 10 شاخص اصلی، 20 زیرشاخص و 92 گویه گردآوری شد. یافته های تحقیق نشان داد که  میان خودشیفتگی و خودارزشیابی محوری و نیز سرمایه‌های اجتماعی داخلی و خارجی مدیران عامل و عملکرد بنگاه‌هایشان رابطه مستقیمی وجود دارد.  این رابطه  همچنین بر اثر تعدیلگری عواملی چون نفوذ هیئت مدیره  پویایی محیطی  سابقه مدیرعامل در سمت فعلی و عمر شرکت، صحه گذاردند. نتایج تحقیق می‌تواند دیدی روشن از سازوکار تاثیرگذاری ویژگی‌های شخصیتی مدیران ارشد بر عملکرد بنگاه‌ها ارائه دهد. آزمون این یافته ها در صنایع مختلف و نیز بررسی تاثیر سایر ویژگی‌های شخصیتی مدیران عامل  بر عملکرد بنگاه‌ها می‌تواند راه را برای تحقیقات آتی هموار سازد.

کلیدواژه‌ها


عنوان مقاله [English]

A study on effect of personal traits and social capitals of Stock Exchange Brokerages CEOs on their firms’ performance

نویسندگان [English]

  • Esmaeil Shah Tahmasebi 1
  • Sepideh Hajizadeh 2
چکیده [English]

The purpose of this study is to assess the effects of personality traits (narcissism and core self-evaluation) as well as, internal and external social capital of Tehran Stock Exchange brokerage CEOs on the performance of their firms. Entrepreneurial orientation, transformational leadership and reputation variables mediate this relationship. This survey was conducted on 53 CEOs of the brokerages using a questionnaire composed of 10 main criteria, 20 sub-criteria and 92 items (questions). The results confirmed fourteen out of seventeen hypotheses. The relationship of narcissism, core self-evaluation, and internal and external social capital of CEOs via the mediating variables was confirmed. Also the moderating role of board power, environmental dynamism, CEOs tenure and firm age was verified. The resulted model revealed that half of firm performance can be indirectly effected by core self- evaluation, narcissism and external social capital.

کلیدواژه‌ها [English]

  • Performance of Stock Exchange Brokerages
  • core self-evaluation
  • narcissism
  • social capital of CEO

منابع فارسی:

  1. آذر، عادل؛ غلامزاده، رسول و قنواتی، مهدی (1391). مدلسازی مسیری- ساختاری در مدیریت، کاربرد نرم افزار Smart PLS. تهران: انتشارات نگاه دانش.
منابع انگلیسی:

  1. Adler, P. S., & Kwon, S. W. (2000). Social capital: the good, the bad, and the ugly. Knowledge and social capital, Routledge. p.89.
  2. Alegre, J., & Chiva, R. (2013). Linking entrepreneurial orientation and firm performance: the role of organizational learning capability and innovation performance. Journal of Small Business Management, 51(4), 491–507.
  3. Agyemang, O. S., Ansong, A. (2017). Corporate social responsibility and firm performance of Ghanaian SMEs: Mediating role of access to capital and firm reputation. Journal of Global Responsibility8(1), 47-62.
  4. Avolio, B. J., Sosik, J. J., Jung, D. I., & Berson, Y. (2003). Leadership models, methods, and applications. Handbook of psychology.
  5. Barney, J. B. (2001). Is the resource-based “view” a useful perspective for strategic management research? Yes. Academy of Management Review, 26(1), 41–56.
  6. Carpenter, M. A., Geletkanycz, M. A., & Sanders, W. G. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6), 749–778.
  7. Chandler, G. N., & Hanks, S. H. (1993). Measuring the performance of emerging businesses: A validation study. Journal of Business venturing, 8(5), 391-408.
  8. Chen C.N., Tzeng C.L, OU. W.M. (2007). "The relationship among social capital, e ntrepreneurial orientation, organizational resources and entrepreneurial performance for new ventures", Contemporary Management Research, 3(3): 213-232.
  9. Chen, M. H. (2007). Entrepreneurial leadership and new ventures: Creativity in entrepreneurial teams. Creativity and Innovation Management, 16(3), 239-249.
10. Chin, W. W., Marcolin, B. L., & Newsted, P. R. (2003). A partial least squares latent variable modeling approach for measuring interaction effects: Results from a Monte Carlo simulation study and an electronic-mail emotion/adoption study. Information systems research, 14(2), 189-217.

11. Collis, D. J. (1994). Research note: how valuable are organizational capabilities?. Strategic management journal, 15(S1), 143-152.

  1. Colombo, M. G., Franzoni, C., & Rossi‐Lamastra, C. (2015). Internal social capital and the attraction of early contributions in crowdfunding. Entrepreneurship Theory and Practice, 39(1), 75-100.
13. Costanzo, L. A., & Di Domenico, M. (2015). A Multi‐level Dialectical–Paradox Lens for Top Management Team Strategic Decision‐Making in a Corporate Venture. British Journal of Management, 26(3), 484–506.

14. Cuevas-Rodríguez, G., Cabello-Medina, C., & Carmona-Lavado, A. (2014). Internal and external social capital for radical product innovation: Do they always work well together?. British Journal of Management, 25(2), 266-284.

15. Das, A. (2001). Towards theory building in manufacturing flexibility. International Journal of Production Research, 39(18), 4153–4177.

16. Dyer, J. H., & Singh, H. (1998). The relational view: Cooperative strategy and sources of interorganizational competitive advantage. Academy of Management Review, 23(4), 660–679.

17. Engelen, A., Gupta, V., Strenger, L., & Brettel, M. (2015). Entrepreneurial orientation, firm performance, and the moderating role of transformational leadership behaviors. Journal of Management, 41(4), 1069–1097.

18. Engelen, A., Neumann, C., & Schmidt, S. (2013). Should entrepreneurially oriented firms have narcissistic CEOs?. Journal of Management, 42(3), 698-721.

  1. Fonti, F., & Maoret, M. (2016). The direct and indirect effects of core and peripheral social capital on organizational performance. Strategic Management Journal, 37(8), 1765-1786.
20. Hall, R. H. (1977). Organizations: structure and process. Prentice-Hall.

21. Hall, E. H., & Lee, J. (2014). Assessing the impact of firm reputation on performance: an international point of view. International Business Research, 7(12), 1.

22. Hambrick, D. C., & Mason, P. A. (1984). Upper Echelons: The Organization as a Reflection of Its Top Managers. The Academy of Management Review, 9(2), 193.

23. Hammer, A., Ommen, O., Röttger, J., & Pfaff, H. (2012). The Relationship Between Transformational Leadership and Social Capital in Hospitals—A Survey of Medical Directors of All German Hospitals. Journal of Public Health Management and Practice, 18(2), 175-180.

24. Hart, S. L., & Quinn, R. E. (1993). Roles executives play: CEOs, behavioral complexity, and firm performance. Human Relations, 46(5), 543–574.

25. Heavey, C., Fox, B. C., Simsek, Z., & Hambrick, D. C. (2015). Exuberance in the Corner Office: CEO Personality and the Rise and Fall of Irish Firms, 2005-2009. Academy of Management, p. 12403.

26. Jantunen, A., Puumalainen, K., Saarenketo, S., & Kyläheiko, K. (2005). Entrepreneurial orientation, dynamic capabilities and international performance. Journal of International Entrepreneurship, 3(3), 223-243.

27. Karahanna, E., & Preston, D. S. (2011). The effect of social capital of the relationship between the CIO and top management team on firm performance. Journal of Management Information Systems, 30(1), 15–56.

28. Kemper J., Engelen A., Brettel M. (2011) "How top management’s social capital fosters the Development of Specialized Marketing Capabilities: A Cross-Cultural comparison", Journal of International Marketing, 19, 1-52.

29. Kovjanic, S., Schuh, S. C., & Jonas, K. (2013). Transformational leadership and performance: An experimental investigation of the mediating effects of basic needs satisfaction and work engagement. Journal of Occupational and Organizational Psychology86(4), 543-555.

30. Lavie, D. (2006). The competitive advantage of interconnected firms: An extension of the resource-based view. Academy of Management Review, 31(3), 638–658.

31. Leonard-Barton, D. (1992). Management of technology and moose on tables. Organization Science, 3(4), 556–558.

32. Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 21(1), 135–172.

33. Martinez, A. D., Russell, Z. A., Maher, L. P., Brandon-Lai, S. A., & Ferris, G. R. (2017). The Sociopolitical Implications of Firm Reputation: Firm Financial Reputation× Social Reputation Interaction on Firm Financial Performance. Journal of Leadership & Organizational Studies24(1), 55-64.

34. O'Cass, A., & Viet Ngo, L. (2007). Market orientation versus innovative culture: two routes to superior brand performance. European Journal of Marketing, 41(7/8), 868-887.

35. Paulraj, A., Lado, A. A., & Chen, I. J. (2008). Inter-organizational communication as a relational competency: Antecedents and performance outcomes in collaborative buyer–supplier relationships. Journal of Operations Management, 26(1), 45–64.

36. Petrenko, O. V., Aime, F., Ridge, J., & Hill, A. (2016). Corporate social responsibility or CEO narcissism? CSR motivations and organizational performance. Strategic Management Journal, 37(2), 262-279.

  1. Pezeshkan, A., Fainshmidt, S., Nair, A., Frazier, M. L., & Markowski, E. (2016). An empirical assessment of the dynamic capabilities–performance relationship. Journal of Business Research, 69(8), 2950-2956.
  2. Pinho, J. C. (2014). 2 Dynamic capabilities and international performance of SMEs: the interaction effect of relational social capital. Research Handbook on Export Marketing, 45.
39. Resick, C. J., Whitman, D. S., Weingarden, S. M., & Hiller, N. J. (2009). The bright-side and the dark-side of CEO personality: Examining core self-evaluations, narcissism, transformational leadership, and strategic influence. Journal of Applied Psychology, 94(6), 1365–1381.

40. Rosenthal, S. A., & Pittinsky, T. L. (2006). Narcissistic leadership. Leadership Quarterly, 17, 617–633.

41. Santella, R. (2013). The Impact of Core Self Evaluation on Entrepreneurial Transition and Financing (Doctoral dissertation, LUISS Guido Carli).

  1. Schenkel, A., & Teigland, R. (2017). Why doesn’t downsizing deliver? A multi-level model integrating downsizing, social capital, dynamic capabilities, and firm performance. The International Journal of Human Resource Management, 28(7), 1065-1107.
43. Solakivi, T., Töyli, J., & Ojala, L. (2015). Supply chain collaboration and firm performance in manufacturing. International Journal of Integrated Supply Management, 9(4), 343-366.

44. Tang, J., Crossan, M., & Rowe, W. G. (2011). Dominant CEO, deviant strategy, and extreme performance: The moderating role of a powerful board. Journal of Management Studies48(7), 1479-1503.

45. Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509–533.

46. von den Driesch, T., da Costa, M. E. S., Flatten, T. C., & Brettel, M. (2015). How CEO experience, personality, and network affect firms’ dynamic capabilities. European Management Journal, 33(4), 245–256.

47. Wales, W. J., Patel, P. C., & Lumpkin, G. T. (2013). In pursuit of greatness: CEO narcissism, entrepreneurial orientation, and firm performance variance. Journal of Management Studies, 50(6), 1041-1069.

48. Wiklund, J., & Shepherd, D. (2005). Entrepreneurial orientation and small business performance: a configurational approach. Journal of Business Venturing, 20(1), 71–91.

  1. Wilden, R., Gudergan, S. P., Nielsen, B. B., & Lings, I. (2013). Dynamic capabilities and performance: strategy, structure and environment. Long Range Planning, 46(1), 72-96.
  2. Xiao, L. (2007). The impact of dynamic IT capability and organizational culture on firm performance. doctorial dissertation.The George Washington University.
  3. Yang, K., Zhu, J., & Santoro, M. D. (2016). Inter-Firm Managerial Social Ties and Strategic Alliances Formation: A Multiplexity Perspective. papers.ssrn.com.