In this study, we focus on managerial incentives provided by debt-like compensation and further investigate whether and to what extent such managerial incentives may affect CEOs' decisions on risk management. Building on cumulative prospect theory and instrumental stakeholder theory, we propose...

This paper empirically examines the impact of CEO narcissism on corporate financialization using Shanghai and Shenzhen A-share listed companies from 2009-2022. The results find that CEO narcissism leads to corporate financialization, and the promotion is more significant in lower cash flow,...