This paper contributes to the understanding of the executive team dynamic managerial capabilities by developing theory about the interplay between the firm's dominant logic and dynamic managerial ...capabilities (including managerial human capital, social capital, and cognition). We underscore the criticality of the two key CEO-level functions: configuration and orchestration of senior executive team dynamic capabilities. We develop theory on how these functions create and sculpt the management team's absorptive capacity, which in turn shapes the team's adaptive capacity. We present theory about the distributed nature of efforts for organizational renewal where CEO's dynamic managerial capabilities in concerto with senior executive managerial capabilities will drive top management's ability to revitalize the firm's dominant logic and to achieve evolutionary fit.
Transformations in the marketing function reflect changes in the immediate business environment. While the impact of transformations can be identified through companies' financial results, a deeper ...meaning for such a transformation exists in societal changes. In other words, ongoing changes among consumers, markets, and marketing departments feature prominently in the need for business transformations. Marketing departments too are under increasing pressure to perform. In fact, 80% of chief executive officers do not trust or are unimpressed with their chief marketing officers (CMOs), and CMOs have a high turnover rate. Calls to demonstrate the efficiency of the marketing function have brought the focus on creating value andmanaging customer relationships in a personalized manner.
Invited for the cover of this issue is the group of Dirk Menche at the University of Bonn. The image depicts leupyrrins A1 and B1, potent antifungal agents from the myxobacterium Sorangium ...cellulosum. Read the full text of the article at 10.1002/chem.201604445.
“The overall high yields and reliability of the route will enable more detailed biological evaluation of these scarce metabolites.” Read more about the story behind the cover in the Cover Profile and about the research itself on page 3300 ff. (DOI: 10.1002/chem.201604445).
This paper investigates the roles which corporate reputation and CEO integrity play in the relationship between CSR disclosure and firm performance. Analysing a dataset of 3588 firm-year observations ...of 833 Fortune World Most Admired firms in 31 countries from 2005 to 2011, the paper shows a positive effect of CSR disclosure on firm reputation, which in turn significantly contributes to a firm's financial performance. The paper finds that CEO integrity strengthens the positive impact of CSR disclosure on firm reputation significantly. The findings are consistent across three measures of a firm’s financial performance (Tobin’s Q, ROA and ROE) and three proxies of CEO integrity. The paper offers insight into how corporate reputation and CEO integrity intervene the benefits of CSR disclosure to firm performance and how the lack of consideration of such factors could be the reason for the inconsistent findings in the previous studies.
The CEO-TMT interface, defined as the linkage and interaction between the CEO and other top managers, has received increasing attention from scholars in different disciplines. This stream of research ...aims to unveil how CEOs and other executives interact with one another, influence each other, and become involved in collective activities that shape the fate of organizations. Yet, despite the burgeoning interest in this area, extant CEO-TMT research is characterized by various and disconnected assumptions about the interfacing roles through which CEOs and TMTs exercise strategic leadership. Drawing on role theory, we review extant CEO-TMT interface research in different disciplines, and systematically organize the various CEO-TMT role assumptions into three role-theory specifications: functionalism, social-interactionism, and structuralism. In taking stock of the three role specifications, we provide a critique of the strengths and boundaries of each, and chart directions toward an integrated ‘multi-role’ understanding of the CEO-TMT interface in strategic leadership.
Family firms are often portrayed as an important yet conservative form of organization that is reluctant to invest in innovation; however, simultaneously, evidence has shown that family firms are ...flourishing and in fact constitute many of the world's most innovative firms. Our study contributes to disentangling this puzzling effect. We argue that family firms—owing to the family's high level of control over the firm, wealth concentration, and importance of nonfinancial goals—invest less in innovation but have an increased conversion rate of innovation input into output and, ultimately, a higher innovation output than nonfamily firms. Empirical evidence from a meta-analysis based on 108 primary studies from 42 countries supports our hypotheses. We further argue and empirically show that the observed effects are even stronger when the CEO of the family firm is a later-generation family member. However, when the CEO of the family firm is the firm's founder, innovation input is higher and, contrary to our initial expectations, innovation output is lower than that in other firms. We further show that the family firm-innovation input-output relationships depend on country-level factors; namely, the level of minority shareholder protection and the education level of the workforce in the country.
It is widely acknowledged that narcissism is a peculiar characteristic of leaders, such as CEOs. However, the role of narcissism in CEO emergence and appointment has not been studied yet. We overcome ...this gap by studying whether having a highly narcissistic personality allows individuals to become CEOs sooner. We posit that these individuals have quicker career development, climbing the hierarchical chain faster. We also hypothesize that this relation may be moderated by the firm's characteristics, comparing family and nonfamily firms. Family firms are the most widespread organizational form of firms around the world, and their peculiarities might affect the appointment of narcissistic CEOs. Estimates on a sample of 172 individuals partially confirm the hypotheses. Highly narcissistic individuals become CEOs quicker, regardless of whether the firm is a family business or not. Narcissistic individuals thus benefit from their personality when aiming at becoming CEOs faster in their career advancement.
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