Tese

Overconfidence, ceo power e desempenho social corporativo

The choice of corporate strategies that incorporate social and environmental aspects in organizational activity is a necessary point in current market configurations. Therefore, the decision-making process that encompasses these choices requires attention, mainly in relation to understanding the...

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Autor principal: Costa, Ingrid Laís de Sena
Grau: Tese
Idioma: pt_BR
Publicado em: Universidade Federal da Paraíba 2024
Assuntos:
Excesso de confiança. CEO power. Desempenho social corporativo. Overconfidence. CEO power. Corporate social performance
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
Acesso em linha: http://hdl.handle.net/11612/6685
id ir-11612-6685
recordtype dspace
spelling ir-11612-66852024-04-11T06:04:43Z Overconfidence, ceo power e desempenho social corporativo Costa, Ingrid Laís de Sena Lucena, Wenner Glaucio Lopes Excesso de confiança. CEO power. Desempenho social corporativo. Overconfidence. CEO power. Corporate social performance CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS The choice of corporate strategies that incorporate social and environmental aspects in organizational activity is a necessary point in current market configurations. Therefore, the decision-making process that encompasses these choices requires attention, mainly in relation to understanding the factors that affect it. Specifically, this research focuses on the behavioral attributes of managers that are related to decision making, such as overconfidence (OC) and the chief executive officer (CEO) power. Therefore, this study sought to analyze the influence of CEO power and overconfidence on corporate social performance (CSD). For this, the research sample included 180 non-financial publicly traded Brazilian companies, from 2010 to 2022, depending on data availability. The methodology had a quantitative-qualitative approach that included the composition of a DSC measure, defined based on a checklist of items related to institutional, social and environmental dimensions; the composition of measures of managerial overconfidence based on the CEO’s behavioral characteristics and organizational and remuneration characteristics; and a measure related to the CEO power, constructed observing Finkelstein’s four dimensions. Subsequently, these constructs were analyzed using descriptive and inferential statistics using multilinear regressions on panel data. The research results demonstrated that, with regard to corporate social performance, the companies investigated develop socio-responsive activities, but present an average adherence to the analyzed indicators, the result obtained was similar to the Refinitiv® ESG Score for the same period. The best-performing companies in the energy and sanitation sectors stood out. The evidence obtained suggests that the behavioral aspects of managers are related to the corporate social performance of Brazilian companies, in which overly confident managers positively affect the corporate social performance of companies. Regarding the CEO power structure, it was noticed that aspects related to expert and prestige power enhance the development of socio-responsible measures. Overall, it was found that the CEO power does not increase this manager’s overconfidence and, consequently, does not act as an effective moderating aspect of the relationship between overconfidence and corporate social performance. Furthermore, the findings contribute to the perspective discussed by theories of upper echelons, managerial power and agency, by providing evidence of the relationship between managers' behavior and the social performance of companies within an emerging scenario, as well as encompassing a pandemic period. A escolha de estratégias corporativas que incorporem os aspectos sociais e ambientais frente à atividade organizacional é um ponto necessário às atuais configurações do mercado. Deste modo, o processo decisório que abarca essas escolhas requer atenção, principalmente com relação ao entendimento de fatores que o afete. De maneira específica, esta pesquisa se volta aos atributos comportamentais dos gestores que se relacionam à tomada de decisão, como o excesso de confiança (EC) e o poder do chief executive officer (CEO). Sendo assim, este estudo buscou analisar a influência do poder do CEO e do excesso de confiança sobre o desempenho social corporativo (DSC). Para isto, a amostra da pesquisa contemplou 180 companhias brasileiras de capital aberto não financeiras, no período de 2010 a 2022, conforme a disponibilidade dos dados. A metodologia teve uma abordagem quantiqualitativa que contou com a composição de uma medida de DSC, definida a partir de um checklist de itens relacionados a dimensões institucionais, sociais e ambientais; a composição de medidas de excesso de confiança gerencial a partir de características comportamentais do CEO e de características organizacionais e remuneratórias; e uma medida relativa ao poder do CEO, construída observando as quatro dimensões de Finkelstein. Posteriormente, analisaram-se estes constructos mediante estatística descritiva e inferencial por meio de regressões multilineares em dados em painel. Os resultados da pesquisa demonstraram que, no que se refere ao desempenho social corporativo, as companhias investigadas desenvolvem atividades sócio responsivas, mas apresentam uma aderência mediana aos indicadores analisados, o resultado obtido foi semelhante ao Score ESG da Refinitiv® para o mesmo período. Destacaram-se as companhias integrantes dos setores de energia e de saneamento com melhor desempenho. As evidências obtidas sugerem que os aspectos comportamentais dos gestores estão relacionados à performance social corporativa das empresas brasileiras, em que os gestores excessivamente confiantes afetam positivamente à performance social corporativa das companhias. Com relação a estrutura do poder do CEO, percebeu-se que aspectos relacionados ao poder de especialista e de prestígio potencializam o desenvolvimento de medidas sócio responsáveis. No geral, verificou-se que o poder do CEO não eleva o excesso de confiança deste gestor, e, consequentemente, não atua como um aspecto moderador efetivo da relação entre o excesso de confiança e o desempenho social corporativo. Ademais, os achados contribuem com a perspectiva discutida pelas teorias dos escalões superiores, do poder gerencial e da agência ao fornecerem evidências da relação do comportamento dos gestores com o desempenho social de companhias dentro de um cenário emergente, assim como englobando um período pandêmico. 2024-04-09T09:33:42Z 2024-04-09T09:33:42Z 2024-02-28 Tese COSTA, Ingrid Laís de Sena. Overconfidence, ceo power e desempenho social corporativo. 2024. 128 f. Tese (Doutorado em Ciências Contábeis) – Universidade Federal da Paraíba, João Pessoa, 2024. http://hdl.handle.net/11612/6685 pt_BR Livre application/pdf Universidade Federal da Paraíba Brasil Mestrado em Ciências Contábeis João Pessoa
institution Repositório Institucional - Universidade Federal do Tocantins - UFT
collection RepositorioUFT
language pt_BR
topic Excesso de confiança. CEO power. Desempenho social corporativo. Overconfidence. CEO power. Corporate social performance
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
spellingShingle Excesso de confiança. CEO power. Desempenho social corporativo. Overconfidence. CEO power. Corporate social performance
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
Costa, Ingrid Laís de Sena
Overconfidence, ceo power e desempenho social corporativo
topic_facet Excesso de confiança. CEO power. Desempenho social corporativo. Overconfidence. CEO power. Corporate social performance
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
description The choice of corporate strategies that incorporate social and environmental aspects in organizational activity is a necessary point in current market configurations. Therefore, the decision-making process that encompasses these choices requires attention, mainly in relation to understanding the factors that affect it. Specifically, this research focuses on the behavioral attributes of managers that are related to decision making, such as overconfidence (OC) and the chief executive officer (CEO) power. Therefore, this study sought to analyze the influence of CEO power and overconfidence on corporate social performance (CSD). For this, the research sample included 180 non-financial publicly traded Brazilian companies, from 2010 to 2022, depending on data availability. The methodology had a quantitative-qualitative approach that included the composition of a DSC measure, defined based on a checklist of items related to institutional, social and environmental dimensions; the composition of measures of managerial overconfidence based on the CEO’s behavioral characteristics and organizational and remuneration characteristics; and a measure related to the CEO power, constructed observing Finkelstein’s four dimensions. Subsequently, these constructs were analyzed using descriptive and inferential statistics using multilinear regressions on panel data. The research results demonstrated that, with regard to corporate social performance, the companies investigated develop socio-responsive activities, but present an average adherence to the analyzed indicators, the result obtained was similar to the Refinitiv® ESG Score for the same period. The best-performing companies in the energy and sanitation sectors stood out. The evidence obtained suggests that the behavioral aspects of managers are related to the corporate social performance of Brazilian companies, in which overly confident managers positively affect the corporate social performance of companies. Regarding the CEO power structure, it was noticed that aspects related to expert and prestige power enhance the development of socio-responsible measures. Overall, it was found that the CEO power does not increase this manager’s overconfidence and, consequently, does not act as an effective moderating aspect of the relationship between overconfidence and corporate social performance. Furthermore, the findings contribute to the perspective discussed by theories of upper echelons, managerial power and agency, by providing evidence of the relationship between managers' behavior and the social performance of companies within an emerging scenario, as well as encompassing a pandemic period.
author_additional Lucena, Wenner Glaucio Lopes
author_additionalStr Lucena, Wenner Glaucio Lopes
format Tese
author Costa, Ingrid Laís de Sena
title Overconfidence, ceo power e desempenho social corporativo
title_short Overconfidence, ceo power e desempenho social corporativo
title_full Overconfidence, ceo power e desempenho social corporativo
title_fullStr Overconfidence, ceo power e desempenho social corporativo
title_full_unstemmed Overconfidence, ceo power e desempenho social corporativo
title_sort overconfidence, ceo power e desempenho social corporativo
publisher Universidade Federal da Paraíba
publishDate 2024
url http://hdl.handle.net/11612/6685
_version_ 1797188894859460608
score 11.675088

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