2018
DOI: 10.1017/jmo.2018.58
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Looking backward through the looking glass: Reference groups and social comparison

Abstract: Scholars often assume that reference groups are industry-wide, homogeneous, and stable. We examine this assumption and suggest hypotheses based on managers’ motivations such as self-enhancement and self-improvement, social identity, and affiliation-based impression management. We test hypotheses on failure-induced changes in reference groups and their direction in terms of upward and downward comparisons. An empirical examination of changes in reference groups for firms listed on the Dow Jones Industrial Avera… Show more

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Cited by 7 publications
(5 citation statements)
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References 120 publications
(170 reference statements)
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“…Collectives can exercise substantial social influence through information sharing, observational learning, and more direct acts of intervention. As such, reference groups are to be considered important factors in determining the extent to which students embrace the changes demanded by sustainable development [90,91]. Reference groups may extend to the virtual world through social media applications, which benefit widespread use in Saudi Arabia [92].…”
Section: Discussionmentioning
confidence: 99%
“…Collectives can exercise substantial social influence through information sharing, observational learning, and more direct acts of intervention. As such, reference groups are to be considered important factors in determining the extent to which students embrace the changes demanded by sustainable development [90,91]. Reference groups may extend to the virtual world through social media applications, which benefit widespread use in Saudi Arabia [92].…”
Section: Discussionmentioning
confidence: 99%
“…First, firms may attend to multiple reference groups simultaneously. Therefore, it will be important to continue examining how firms attend to multiple reference groups (Gaba and Greve, 2019;Hu et al, 2017;Kacperczyk, Beckman and Moliterno, 2015) and why and when they switch among them (Lee, Rhee and Park, 2020). Second, firms may form a reference group that simultaneously caters for multiple motives.…”
Section: Limitations and Future Researchmentioning
confidence: 99%
“…In the light of the centrality of the upward comparison, it is surprising that – apart from the papers by Beckman and Lee (2017), Labianca et al. (2009) and Lee, Rhee and Park (2020) – striving has rarely been discussed in the PFT literature. Some PFT papers refer to the industry leaders’ performance (Askin and Bothner, 2016; Blettner et al.…”
Section: Theory and Hypothesesmentioning
confidence: 99%
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“…We improve our understanding of this process by taking a view that is more comprehensive and representative of the process originally proposed by Cyert and March (1992). Many scholars have called for more studies on the cognitive underpinnings of PFT (Lee et al. , 2020; Posen et al.…”
Section: Discussionmentioning
confidence: 99%