Pilot CEOs and corporate innovation

被引：453

作者：

Sunder, Jayanthi ^{[1
]}

Sunder, Shyam V. ^{[1
]}

Zhang, Jingjing ^{[2
]}

机构：

[1] Univ Arizona, Eller Coll Management, 1130 E Helen St, Tucson, AZ 85721 USA

[2] McGill Univ, Desautels Fac Management, 1001 Sherbrooke West, Montreal, PQ H3A 1G5, Canada

来源：

JOURNAL OF FINANCIAL ECONOMICS | 2017年 / 123卷 / 01期

关键词：

CEOs; Innovation; Personality traits; Sensation seeking; Intrinsic motivation; RESEARCH-AND-DEVELOPMENT; SENSATION-SEEKING; RISK-TAKING; OVERCONFIDENCE; INCENTIVES; EXPERIENCES; POLICIES; PATENTS; LEVEL;

D O I：

10.1016/j.jfineco.2016.11.002

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We find evidence that chief executive officers' (CEOs') hobby of flying airplanes is associated with significantly better innovation outcomes, measured by patents and citations, greater innovation effectiveness, and more diverse and original patents. We rule out alternative explanations, leading us to conclude that CEO pilot credentials capture the personality trait of sensation seeking. Sensation seeking combines risk taking with a desire to pursue novel experiences and has been associated with creativity. Our evidence highlights sensation seeking as a valuable personality trait that can be used to identify CEOs who are likely to drive innovation success. (C) 2016 Elsevier B.V. All rights reserved.

引用

页码：209 / 224

页数：16

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