IDEAS home Printed from https://ideas.repec.org/a/eee/riibaf/v79y2025ics0275531925003216.html
   My bibliography  Save this article

CEO narcissism and dividend policy

Author

Listed:
  • Park, Moon Deok
  • Han, Seung Hun
  • Song, Chanhoo

Abstract

This study examines the effect of CEO narcissism on dividend policies. The results indicate that firms with highly narcissistic CEOs pay higher dividends. Additional analyses using cash flow and CEO pay slice reveal that this tendency is less likely to be driven by signaling motivation. However, using tangibility and bid-ask spread, we observe that this tendency is to mitigate agency conflicts by disciplining managerial opportunism and incentivizing CEOs to prioritize shareholders’ interests. This study contributes to literature by linking a firm’s major strategy to its CEO characteristics.

Suggested Citation

  • Park, Moon Deok & Han, Seung Hun & Song, Chanhoo, 2025. "CEO narcissism and dividend policy," Research in International Business and Finance, Elsevier, vol. 79(C).
    • Handle: RePEc:eee:riibaf:v:79:y:2025:i:c:s0275531925003216
    DOI: 10.1016/j.ribaf.2025.103065
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0275531925003216
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ribaf.2025.103065?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • G35 - Financial Economics - - Corporate Finance and Governance - - - Payout Policy
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:riibaf:v:79:y:2025:i:c:s0275531925003216. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ribaf .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.