Predicting primary and secondary stakeholder engagement: A CEO motivation-means contingency model

Chiu, Sana (Shih-chi), Robert E. Hoskisson, Dejun Tony Kong, Andrew Li and Ping Shao

Journal of Business Research, 2023, vol. 160, issue C

Abstract: Our research predicts different stakeholder engagement emphases through a CEO motivation-means contingency model. Drawing upon regulatory focus and power theories, we argue that higher levels of CEO prevention focus and informal power (firm experience, knowledge, and board connections) are associated with stronger primary stakeholder engagement, whereas higher levels of CEO promotion focus and formal power (CEO duality and equity ownership) are associated with stronger secondary stakeholder engagement. By analyzing a panel dataset of S&P 500 firms, we found support for our hypotheses. These findings accentuate our contributions by emphasizing the importance of considering both CEO motivation (regulatory focus) and means (power) to understand how CEOs’ characteristics influence their firms’ stakeholder engagement. Our study extends recent work in the strategy and upper echelons literatures by showing that executives’ regulatory focus does not operate in a vacuum; rather, its effects on managerial decision-making and firm strategies are context-specific.

Keywords: CEO; Regulatory focus theory; Power; Stakeholder strategy; Stakeholder engagement (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0148296323001182
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:160:y:2023:i:c:s0148296323001182

DOI: 10.1016/j.jbusres.2023.113760

Access Statistics for this article

Journal of Business Research is currently edited by A. G. Woodside

More articles in Journal of Business Research from Elsevier
Bibliographic data for series maintained by Catherine Liu ().