Don’t Worry, Be Happy—Does the CEO’s Personality Mitigate the Negative Effect of Financial Constraints on Employee Satisfaction?
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
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in: Schmalenbach Journal of Business Research, Jahrgang 75, Nr. 1, 03.2023, S. 71-98.
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
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TY - JOUR
T1 - Don’t Worry, Be Happy—Does the CEO’s Personality Mitigate the Negative Effect of Financial Constraints on Employee Satisfaction?
AU - Neumeyer, Laura
AU - Gründler, Anna
AU - Stöber, Anna Luisa
N1 - Publisher Copyright: © 2023, The Author(s).
PY - 2023/3
Y1 - 2023/3
N2 - Our study addresses whether a chief executive officer’s (CEO) personality can mitigate financial constraints’ negative effect on employee satisfaction. We draw on extant research that establishes this negative effect but add an upper echelon’s perspective by examining the potential influence of the CEO’s personality traits. Using a multi-source dataset of 1516 observations of S&P 500 firms, novel measures of employee satisfaction based on Glassdoor reviews, and a machine-learning-based linguistic tool on the Five-Factor Model’s personality traits, our study reveals that a CEO who has a high level of openness to experience and/or a low level of conscientiousness buffers the negative impact of financial constraints on employee satisfaction. Theoretical and practical implications are discussed.
AB - Our study addresses whether a chief executive officer’s (CEO) personality can mitigate financial constraints’ negative effect on employee satisfaction. We draw on extant research that establishes this negative effect but add an upper echelon’s perspective by examining the potential influence of the CEO’s personality traits. Using a multi-source dataset of 1516 observations of S&P 500 firms, novel measures of employee satisfaction based on Glassdoor reviews, and a machine-learning-based linguistic tool on the Five-Factor Model’s personality traits, our study reveals that a CEO who has a high level of openness to experience and/or a low level of conscientiousness buffers the negative impact of financial constraints on employee satisfaction. Theoretical and practical implications are discussed.
KW - CEO personality
KW - Employee satisfaction
KW - Financial constraint
KW - Five-Factor Model
KW - Upper echelons theory
KW - Management studies
UR - http://www.scopus.com/inward/record.url?scp=85147182839&partnerID=8YFLogxK
U2 - 10.1007/s41471-022-00153-9
DO - 10.1007/s41471-022-00153-9
M3 - Journal articles
AN - SCOPUS:85147182839
VL - 75
SP - 71
EP - 98
JO - Schmalenbach Journal of Business Research
JF - Schmalenbach Journal of Business Research
SN - 0341-2687
IS - 1
ER -