Value Congruence and Charismatic Leadership in CEO–Top Manager Relationships: An Empirical Investigation

Hayibor, Sefa; Agle, Bradley R.; Sears, Greg J.; Sonnenfeld, Jeffrey; Ward, Ashley J. W.

doi:10.1007/s10551-011-0808-y

Cited by 61 publications

(50 citation statements)

References 88 publications

(175 reference statements)

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“…Firms hiring a "publicly certified" CEO expect an increase in their performance as well as in their economic value (Deephouse, 2000;Hayibor et al, 2011). Being aware of the advantages which, in principle, highly reputed CEOs bring to a firm, boards of directors tend to use compensation, normally in the form of extra payments, to ensure their presence and continuity Wade et al, 2006).…”

Section: Conclusion and Discussionmentioning

confidence: 99%

“…Furthermore, evidence related to the lack of positive influence of CEO reputation on firm performance (Hayibor et al, 2011;Stanwick and Stanwick, 2003;Wade et al, 2006Wade et al, , 2008 has motivated a third line of research. On the basis of agency arguments, TMTs working for a highly reputed CEO will receive higher or lower compensation depending on the effectiveness of governance mechanisms that monitor the CEO (Malmendier and Tate, 2009).…”

Section: Introductionmentioning

confidence: 99%

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CEO reputation and top management team compensation

Marín

Baixauli‐Soler

2014

Management Decision

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Purpose – The purpose of this paper is to clarify the influence of chief executive officer (CEO) reputation on top management team (TMT) compensation, proposing corporate governance characteristics as a moderator of the relationships between the power of top managers to extract rents and the importance of external signals. The study aims to expand the domain of executive compensation literature by including the role of CEO reputation in the context of non-Anglo-Saxon corporate governance systems. Design/methodology/approach – The paper opted for a panel methodology for the period 2004-2009, including 534 observations from Spanish listed companies. Data were obtained from several sources. Compensation and governance information was obtained from the Spanish Stock Exchange National Commission; data regarding CEO reputation were obtained from Spanish Corporate Reputation Monitor, and, finally, financial statement was obtained from the OSIRIS database. Findings – The paper provides empirical insights on the CEO reputation diffusion on TMT compensation, showing different scenarios depending on effectiveness of corporate governance. CEO reputation diffusion on TMT pay is strengthened or weakened by the organizational governance effectiveness. General evidence supports the notion that in countries characterized by an incomplete corporate governance system, boards – and also indirectly the structure of ownership – act as a catalyst for external signs of legitimacy, rather than for the organization's and stakeholders’ interests. Research limitations/implications – Because of the difficulty in pooling information for a long period from three different sources of data, the number of observations is not very large. Therefore, researchers are encouraged to test the proposed propositions further using other context of corporate governance. Practical implications – The paper includes implications for the development of effective governance mechanisms which promote an adequate link between the CEO reputation and the TMT compensation, avoiding rent extractions. Originality/value – The paper contributes to new international evidences regarding relations between top managers’ reputations and compensation. Specifically, it allows reinforcement of the importance of institutional arguments in the understanding of the effectiveness of governance mechanisms in large listed companies.

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Section: Conclusion and Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

CEO reputation and top management team compensation

Marín

Baixauli‐Soler

2014

Management Decision

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“…The ethical emphasis of charismatic leadership is virtue-based and utilitarian and creates personal connection with others (Hayibor et al, 2011). The sixth hypothesis reflects charismatic leadership's commitment to personal relationships in accomplishing a noble ideal.…”

Section: Charismatic Leadership's Ability To Create a Personal Relatimentioning

confidence: 99%

Moral Implications of Leadership - Transformative Insights

Caldwell²,

Anderson

2016

IJBSR

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In this paper we examine the correlations between Lawrence Kohlberg's six stages of morality and Transformative Leadership, a new morally-based approach to leadership. Using survey of students, faculty members, and staffs at a South Florida private university we present evidence that there is a clear relationship between an individual's self-described leadership perspectives and the stages of Kohlberg's moral development model. Our paper provides five significant contributions to the literature about leadership and its moral role and enables scholars and practitioners to understand more completely the relationships between leadership and moral behavior.

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“…The ethical focus of charismatic leadership is clearly virtue-based with a teleological focus on achieving a shared vision (Hayibor, et al, 2011). This ability to inspire a shared vision is widely acknowledged to be a critical role of effective leadership (Kouzes & Posner, 2012, Ch.…”

Section: Charismatic Leadershipmentioning

confidence: 99%

Simon Peter and Transformative Leadership: Leadership Insights for Today’s Leaders

Caldwell¹,

McConkie²,

Licona³

2014

JMS

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This paper examines the Apostle Peter as a personification of the relatively new leadership model, Transformative Leadership, which focuses on the leader's role as an ethical steward who owes "covenantal duties" to those whom (s)he serves. We begin by briefly explaining this new leadership model, then explaining how Peter's leadership behavior fits the transformative leadership model with its accompanying moral and ethical obligations. Focusing on the application of the six leadership perspectives in the model, we provide twelve propositions that incorporate insights from Peter's experiences and that apply to the modern leader. The third section of this paper provides a brief summary of the contributions of this paper.

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Value Congruence and Charismatic Leadership in CEO–Top Manager Relationships: An Empirical Investigation

Abstract: charisma, leadership, top management, value congruence, values,

Cited by 61 publications

References 88 publications

CEO reputation and top management team compensation

CEO reputation and top management team compensation

Moral Implications of Leadership - Transformative Insights

Simon Peter and Transformative Leadership: Leadership Insights for Today’s Leaders

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