Intermediary Perception of Narcissistic and Humble CEO Traits

The media plays a key role in bridging information asymmetries between parties such as CEOs and third-party observers. However, current research suggest that the media is not just a carrier of information but can actively shape the impression of the audience. An open question remains, hence, whether media reporting is affected by certain CEO traits such as narcissism or humility, two key constructs in the literature. For instance, narcissistic CEOs’ belief in their own superiority may spillover to the media, thereby distorting the function as information carrier and favoring directly or indirectly certain CEO traits. Therefore, by drawing on the differential effects that narcissism and humility can have on the impression of an audience, the study employs a computer-aided content analysis of factual narcissistic and humble CEOs, identified via a video metric approach, and their evaluation through three key journalistic intermediaries (New York Times, Washington Post, and Financial Times). The quantitative data suggest that actual CEO narcissism is related negatively to external performance evaluations of CEOs in subsequent years. In addition, the data suggest that narcissism as well as humility scores increase the emotional tone employed depending on the journalistic orientation of the media outlet. Humble CEOs receive on average more media attention than narcissistic CEOs yet this result is insignificant, providing limited evidence for a systematic (i.e., number of articles) bias across and within journalistic outlets towards either narcissistic or humble CEOs. This suggests that widely considered “quality” media outlets resist to portray CEO traits in an overly positive/negative light.