Blind to the Future: Managerial Hubris, Foresight and Contextual Impact
Speaker: Prof. Bilian Ni (Hong Kong University of Science and Technology)
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Topic: |
Blind to the Future: Managerial Hubris, Foresight and Contextual Impact
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Time&Date: |
12:00pm-13:30pm, 2018/5/25 |
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Venue: |
Room A619, Teaching A |
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Speaker |
Prof. Bilian Ni (Hong Kong University of Science and Technology)
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| Abstract: |
Extending the current literature on the role of managerial cognition in strategic decision-making, we propose a comprehensive theoretical framework illustrating the relationship between managerial hubris and foresight. We argue that managerial hubris leads to a reduced level of foresight due to biases in perceiving and processing information. We further argue that the hubristic effect on managerial foresight is influenced by internal R&D capability and external market conditions. We contend that R&D capability strongly moderates the impact of hubris on foresight but the human and physical capital resources behind those R&D capabilities exert different impacts and these interactive effects are even amplified in regions with a higher level of marketization. With a unique two-wave survey of about 500 firms in different provinces of China, we find general support for our propositions. This study has significant implications for understanding managerial decision-making and forward-looking perspectives in strategic management.
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