CEO Hubris
Hubris, or excessive pride, brought down many a Greek hero in ancient history and mythology. After careful observation of business for many years, I've concluded that many company actions--especially in mergers and acquisitions--proceed more from the excessive ego of a CEO than from any rational business case. Here's a study to provide some documentation to my feelings and observations.
In fact, I feel so strongly about this, that I actually brought it up to Bob Shillman of Cognex Corp. when I interviewed him after announcement of the
Here's the article from The New York Times about the study:
Measuring C.E.O.'s on the Hubris Index. EXCESSIVE pride has been bringing men down at least since ancient Greece. Only recently, however, have researchers begun to study whether hubris explains the otherwise mysterious behavior of corporate chief executives. By By MARK HULBERT. [NYT > Business]
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