CEO Narcissism and Cross-Boundary Growth: Evidence from Chinese Publicly Listed Manufacturing Firms

Yang Lin, Jingyi Yang, Chenjian Zhang, Liangliang Lu

Research output: Contribution to journalArticlepeer-review


Prior research has shown that CEO narcissism can significantly impact firms’ strategic decision-making and performance. Additionally, studies on cross-boundary growth have demonstrated its positive effect on firms’ financial performance. However, little is known about the relationship between CEO narcissism and firms’ cross-boundary growth. In this study, we integrate upper echelon theory and agency theory and propose that CEO narcissism has a positive effect on a firms’ cross-boundary growth, both domestically and internationally. Furthermore, different types of corporate ownership and ownership concentration have varying effects on this relationship. Our research analyzed publicly listed manufacturing firms in China from 2005 to 2014 and found supportive evidence for our hypotheses. This study offers insight into how micro factors, such as CEO narcissism, can affect a firms’ growth strategy. Our study further sheds light on the differentiating role of corporate ownership and ownership concertation in affecting this relationship.
Original languageEnglish
Pages (from-to)2164-2188
Number of pages25
JournalAsian Business & Management
Issue number5
Early online date2 Nov 2023
Publication statusPublished - 30 Nov 2023

Bibliographical note

Funding: This work was supported by the Key project of National Social Science Foundation of China (Grant No. AGL22019)


  • CEO narcissism
  • China
  • Corporate ownership
  • Firms’ cross-boundary growth
  • Ownership concentration

ASJC Scopus subject areas

  • Political Science and International Relations
  • Business and International Management
  • Sociology and Political Science
  • Strategy and Management


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