title: CEO’s tendency to narcissism and optimism: The impact on a company’s debt burden before and during the COVID-19 pandemic (2018–2021)
metadata.name: dc.contributor.author
metadata.value: Fedorova, E. A.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Krotov, D. P.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Anosova, A. O.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2024-07-04T10:43:54Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2024-07-04T10:43:54Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2024-03
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Fedorova E. A., Krotov D. P., Anosova A. O. 2024. CEO’s tendency to narcissism and optimism: The impact on a company’s debt burden before and during the COVID-19 pandemic (2018–2021). Russian Management Journal 22 (1): 29–50. https://doi.org/10.21638/spbu18.2024.102 (In Russian)
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu18.2024.102
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/45678
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: Goal: to assess the impact of the level of the CEO’s optimism and narcissism on the capital
  structure of companies in the developed and emerging markets before and during the
  COVID-19 pandemic. Methodology: the study is based on 100 Western companies from the
  “Forbes Global 2000” list and 50 leading Russian companies in terms of revenue and capitalization.
  The assessment of narcissism and optimism was carried out by application of text analysis
  based on the bag of words and the pronoun counting method. Using the Anglin dictionary, four
  manifestations of narcissism were assessed — superiority (manifestation of superiority), vanity
  (vanity), exhibitionism (narcissism), self-sufficiency (arrogance). The hypotheses about the
  relationship between a CEO’s personality characteristics (narcissism and optimism) and the
  company’s capital structure were tested by using panel regression with fixed effects. Findings:
  the study revealed that the influence of the behavioral characteristics of a CEO increased during
  the crisis period (pandemic), which may indicate the tendency of managers to act less rationally
  and more impulsively; the result was confirmed for both domestic and foreign managers. The
  interplay between narcissism and optimism has a similar trend with the level of debt burden
  in Russian and international companies, i.e. for decision-making, the personal characteristics
  of management are more important than regional business specifics. Originality and
  contribution of the authors: the study contributes to the literature on behavioral finance by
  assessing the impact of a CEO’s narcissism and optimism in the context of the COVID-19 pandemic
  and expanding the existing work towards the analysis of crisis situations as well as behavioral
  finance in different economic and sociocultural areas. The paper proposes text analysis to assess
  personal characteristics of CEOs.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Russian Management Journal;Volume 22; Issue 1
metadata.lang: -
metadata.name: dc.subject
metadata.value: CEO
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: narcissism
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: optimism
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: corporate governance
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: capital structure
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: text analysis
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: COVID-19 pandemic
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: CEO’s tendency to narcissism and optimism: The impact on a company’s debt burden before and during the COVID-19 pandemic (2018–2021)
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 02.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/45678/1/02.pdf
resources.format: Adobe PDF
resources.size: 2,21 MB