Data underlying the research for manuscript "The Role of CEO Biases and Heuristics for Large Firms’ Innovation"

While for a long time “out of the spotlight,” large firms’ innovation is unique in that it is more common and not such a high-risk strategy. This brings into the light overlooked antecedents such as the biases imposed by CEOs’ personality (narcissism and self-monitoring) and the heuristics driven by CEOs’ motivations (promotion and prevention foci) for certain courses of action. Do different CEO biases affect large firms’ innovation differently and to what extent are these effects bounded by CEOs’ heuristics? We find that narcissistic CEOs differ from self-monitoring CEOs when it comes to innovation. Further, these effects are conditioned by CEOs’ regulatory focus in that the interplay of personality and motivation matters for self-monitors, but it does not matter for narcissistic CEOs. We identify large science and engineering firms in pharmaceutical (SIC 283), communications (SIC 481) and software (SIC 737) industries. We use a number of sources to retrieve data: SEC (annual reports), Execucomp (compensation), LexisNexis (press releases), USPTO (patents and citations), Compustat (financials). Our final dataset is a panel of large firms analyzed between 2006 and 2012 inclusive.

长期以来较少受到学界关注的大型企业创新，其独特之处在于该创新策略更为普遍且风险相对较低。这一特性也使得以往被忽视的前因变量得以凸显，例如CEO人格特质所引发的认知偏差（自恋与自我监控），以及CEO动机驱动的决策启发式（促进型聚焦与防御型聚焦）对特定行动方案的影响。不同的CEO认知偏差对大型企业创新的影响是否存在差异？而这些效应又在多大程度上受到CEO决策启发式的约束？本研究发现，自恋型CEO与自我监控型CEO在创新决策方面存在显著差异。进一步而言，这些效应受到CEO调节聚焦的调节：人格特质与动机的交互作用对自我监控型CEO的创新决策存在影响，但对自恋型CEO则无显著作用。本研究选取制药业（SIC 283）、通信业（SIC 481）与软件业（SIC 737）中的大型科技与工程企业作为研究样本。本研究通过多类数据源获取数据：美国证券交易委员会（SEC，年度报告）、Execucomp（薪酬数据）、LexisNexis（新闻稿）、美国专利商标局（USPTO，专利与引用数据）以及Compustat（财务数据）。最终的研究数据集为2006年至2012年（含首尾年份）的大型企业面板数据。