CEO Hubris가 종업원의 자발적 이직에 미치는 영향 - 기업성과의 조절효과 -
The Impact of CEO Hubris on Voluntary Turnover of Employees - Moderating Effects of Firm Performance -
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CEO hubris에 대한 연구는 아직 충분하지 않을 뿐만 아니라, 대부분의 기존 연구가 다루는 주제는 주로 CEO의 hubristic한 개인특성으로 인해 초래되는 기업성과나 M&A와 같은 big event에 초점이 맞추어져 있다. 이에 대하여, 본 연구는 CEO hubris가 비단 기업의 big event들 뿐만 아니라, 기업의 일상(daily operations)적인 경영활동에 대해서도 부정적 영향을 미치고 있음을 고찰한다. 이를 위해, 기업운영에 필수불가결한 Primary stakeholder 중 하나인 종업원의 자발적 이직에 CEO hubris가 부정적인 영향을 미칠 수 있다는 가설을 도출하였다. 한편, CEO hubris는 charismatic leadership과 유사한 성격을 가지고 있기 때문에, 종업원이 이 둘을 정확하게 구분하여 인식하는데 어려움이 있다. 또한, CEO hubris는 조직 내의 신뢰(trust)에 부정적인 영향을 주어 자발적 이직을 높이고, 조직 내 신뢰의 이슈는 기업성과가 좋을 때는 크게 문제가 되지 않다가, 기업성과가 나쁠 때 비로소 화두가 되는 것이라는 기존 연구를 통해 기업성과의 조절효과를 고찰하였다. 즉, 기업성과가 좋을 때에는 조직 내 신뢰의 문제가 불거지지 않기 때문에, 종업원들이 CEO hubris와 카리스마 리더십을 구분하기 어렵고, 따라서 CEO hubirs가 종업원의 자발적 이직에 미치는 부정적인 영향이 완화될 것이라는 가설을 수립하였다. 두 가설을 검증하기 위하여, 먼저 요인분석을 통하여 CEO hubris라는 latent variable을 설정하고, 이를 독립변수로 하는 negative binomial regression을 활용하였다. 119개의 자료를 통해 실증한 결과, 두 가설이 모두 지지되었다.
Abstract
CEO hubris field has not been studied enough yet. And a few previous researches are examining big events such as M&A premiums, firm performances, or risk-taking behaviors focusing on CEO’s personal hubristic characteristic. This paper deals with negative effects of CEO hubris on daily operations of a firm, not a big event. Namely, this paper concentrates on the negative effect of CEO hubris on voluntary turnover of employees, a primary stakeholder which has pivotal role in operations of a firm. CEO hubris negatively affects the trust of a firm, and lowered trust increases voluntary turnover of employees. It is because CEO hubris ruins a procedural fairness of a firm. Moreover, when the performance of a firm is bad, this negative relationship becomes stronger. When a firm’s performance is good, the trust of a firm does not appear to be a problem. Once a firm’s performance is not good or bad, the trust issue is on discussion. Besides, it is hard to distinguish CEO hubris from leader’s charisma. Thus, a firm’s performance is regarded as a moderator. Empirical results show that CEO hubris has negative influence on voluntary turnover of employees. This research also finds out that the above relationship between CEO hubris and voluntary turnover of employees is relieved when the firm’s performance is good.
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