| As a strategic decision-making concept and model,entrepreneurial strategic orientation has an effect on the development of enterprise,which has been widely proved.It has become the significant strategic choice for enterprises to gain competitive advantage.The existing researches mainly focused on the relationship between entrepreneurial strategic orientation and business performance,while less researches focused on the influencing factors of entrepreneurial strategic orientation,and most of them focused on factors such as enterprise resource ability and senior management team,ignoring the effect of CEO,which is the core figure of strategic decision.Upper Echelon Theory points out that CEO traits have an important influence on the corporate strategic decision-making and execution,and researches have shown that CEOs in China's high collectivist culture are more likely to have narcissistic personality.Then,whether CEO narcissism will affect the entrepreneurial strategic orientation,which has aroused our attention.Therefore,based on Upper Echelon Theory,this paper focuses on the possible mechanism of CEO narcissism and entrepreneurial strategic orientation,and based on the contingency theory,it analyzes the regulatory effects of CEO's managerial discretion at the environmental,organizational and personal levels.Firstly,this paper defines the concept of CEO narcissism,entrepreneurial strategy orientation and managerial discretion,and combs and discusses the existing research literature.Secondly,it expounds the theoretical basis of the research and divides the entrepreneurial strategy orientation and managerial discretion.Finally,the data was collected and processed by manual collection and Wind database,using SPSS 20.0 and STATA 13.1 for data analysis,and then verifying the hypotheses to drew the conclusion.The results show that,the higher the degree of CEO narcissism,the higher the degree of external investment-type and comprehensive entrepreneurial strategic orientation,but it has no significant impact on the internal R&D-type entrepreneurial strategic orientation;when the narcissistic CEO has a higher environmental discretion,it will lead to excessive investment,thus undermining the structural dimension of comprehensive entrepreneurial strategic orientation.Environmental discretion plays a negative role in regulating CEO narcissism and entrepreneurial strategic orientation;in state-owned enterprises,the higher the degree of CEO narcissism,the greater the strength of the external investment-type and comprehensive entrepreneurial strategic orientation that can be implemented;but when the CEO of the enterprise also serves as the chairman,there is no significant adjustment effect on the degree of CEO narcissism and the entrepreneurial strategic orientation.The innovation of this research lies in the perspective of CEO's personal traits,based on the Chinese entrepreneurial situation,selecting the companies listed on the GEM as a sample,and empirically analyzing the impact of CEO narcissism on entrepreneurial strategic orientation.The study provided data samples from China,supplementing the direct empirical evidence of the relationship between CEO narcissism and entrepreneurial strategic orientation under the transitional economic scenario,and providing new ideas for a deep understanding of the strategic selection process.Based on the research conclusions,this paper proposed that enterprises should pay attention to the industry environment in which they are located;moderately adjust the discretion of enterprise management,strengthen the positive promotion effect of narcissistic CEOs on the implementation of entrepreneurial strategic orientation;establish a decision-making accountability model in enterprises and other management suggestions,while summarizing the shortcomings of the article in terms of research content,methods,and prospects for future research.I hope to provide reference recommendations for future researchers and business management practices. |
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