Getting by with the Advice of Their Friends: CEOs' Advice Networks and Firms' Strategic Responses to Poor Performance

By Michael L. McDonald, James D. Westphal. 2003

487 citations recorded by the source corpus.

Subfields: Accounting, Sociology and Political Science, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/fc8ffd98ef1d33f46581e4b030fbacb6a1e8ad49

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Citations in the corpus

The Pacification of Institutional Investors (2008, background): “The ingratiation and persuasion Pacification of Investors items loaded on two different factors as expected, with loadings above .5 on one factor and less than .2 on the other.”
Effects of an Advancing Tenure on CEO Cognitive Complexity (2020, background): “Others have suggested that tenure induces boredom (Ng and Feldman 2013) and reduces the tendency to seek novel information and advice (McDonald and Westphal 2003), ultimately leaving the executive with less motivation and fewer options when making decisions.”
It Pays to Have Friends (2009, unknown): “Using a unique data set, we find that 87% of boards are conventionally independent but that only 62% are conventionally and socially independent.”
CEO Narcissism and the Impact of Prior Board Experience on Corporate Strategy (2015, unknown): “Among studies that examine executives’ social ties, the individual attributes of executives are again deemphasized (McDonald and Westphal, 2003; McDonald, Westphal, and Graebner, 2008 are notable exceptions).”
Does Stakeholder Management have a Dark Side? (2009, background): “When control is tight, executives have limited latitude and so may seek discretion in other organizational areas (Hambrick and Finkel stein, 1987) or through persuasion and ingratiation tactics (McDonald and Westphal, 2003; Westphal, 1998).”
Acquisitions and CEO Power: Evidence from French Networks (2009, background): “On the other hand, research on decision making conclude that managers assign greater weight to personal sources than to impersonal sources (McDonald and Westphal, 2003).”
Too arrogant for their own good? Why and when narcissists dismiss advice (2015, background): “Indeed, the use of advice is related not only to individual performance, but also to firm performance (McDonald & Westphal, 2003), with research demonstrating that firms whose CEOs tended to solicit advice from people who offered strategic perspectives different from their own were more likely to…”