Examining the effects of CEO Big Five personality traits on technological innovation: Evidence from S&P 500 firms
Open AccessThe dissertation examines the impact of CEO Big Five personality traits on technological innovation. Conducting a pre-test and post-test study, I explore the relationship between CEO Big Five personality traits and technological innovation as it is evident to have shifted during the Global Financial Crisis. The thesis utilizes predictions based on risk-taking behaviors, goals pursued, and strategy-related attributes associated with CEO Big Five personality traits. To improve the validity of my predictions, I conduct empirical testing through secondary evidence from CEOs of S&P; 500 as a sample for the period 2006-2010. Using the transcripts of earning calls for S&P; 500 over the period 2006-2010, I used a rigorous R program developed by Harrison et al. (2019) to analyze the speech of sample S&P; CEOs and generate scores for CEO Big Five traits. Technological innovation was measured by research and development intensity, the number of patents generated, and the number of scientific publications of the firm. These measures indicate a firm's technological progress by reflecting the investment, creation, and diffusion of knowledge during innovative activities. The comprehensive yet precise findings of the dissertation further the understanding of how the personality traits of CEOs influence the technological innovation of firms. The dissertation results suggest that CEO personality traits are significant determinants of technological innovation, supporting the research hypotheses.
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