Managers should balance self-interest and altruism

Multiple studies confirm: Greedy CEOs are bad for business

That gut feeling many workers, laborers and other underlings have about their CEOs is spot on, according to three recent studies in the Journal of Management, the Journal of Management Studies and the Journal of Leadership and Organizational Studies that say CEO greed is bad for business. But how do you define greed? Are compassionate CEOs better for business? How do you know if the leader is doing more harm than good? And can anybody rein in the I-Me-Mine type leader anyway? University of Delaware researcher Katalin Takacs Haynes and three collaborators – Michael A. Hitt and Matthew Josefy of Texas A&M University and Joanna Tochman Campbell of the University of Cincinnati – have chased such questions for several years, digging into annual reports, comparing credentials with claims and developing useful definitions that could shed more light on the impact of a company’s top leader on employees, business partners and investors. …..[READ]

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