Abstract
This article explores the link between CEOs’ language and hubristic leadership. It is based on the precepts that leaders’ linguistic utterances provide insights into their personality and behaviours; hubris is associated with unethical and potentially destructive leadership behaviours; if it is possible to identify linguistic markers of CEO hubris then these could serve as early warnings sign and help to mitigate the associated risks. Using computational linguistics, we analysed spoken utterances from a sample of hubristic CEOs and compared them with non-hubristic CEOs. We found that hubristic CEOs’ linguistic utterances show systematic and consistent differences from the linguistic utterances of non-hubristic CEOs. Demonstrating how hubristic leadership manifests in CEO language contributes to wider research regarding the diagnosis and prevention of the unethical and potentially destructive effects of hubristic leadership. This research contributes to the wider study of hubris and unethical leadership by applying a novel method for identifying linguistic markers and offers a way of militating against the risk of unethical and destructive CEO behaviours induced or aggravated by hubristic leadership.
Similar content being viewed by others
Notes
Spoken utterances for Donald Trump were from year 2014, whilst he was still CEO.
Words contained in texts that are read and analysed by LIWC are called target words.
NB: If the ratio of results is equal (i.e. HCEO/NHCEO = 1), such result is treated as ‘Yes’.
References
Abe, J. A. A. (2011). Changes in Alan Greenspan’s language use across the economic cycle: A text analysis of his testimonies and speeches. Journal of Language and Social Psychology, 13(2), 212–223.
Akstinaite, V. (2016). Do successful adult leaders share common childhood experiences? In P. Garrard & G. Robinson (Eds.), The intoxication of power: Interdisciplinary perspectives (pp. 203–228). London: Palgrave Macmillan.
Akstinaite, V. (2018). Use of linguistic markers in the identification and analysis of chief executives’ hubris (Doctoral dissertation, University of Surrey). Retrieved from Surrey Research Insights database.
Al Rahahleh, N., & Wei, P. P. (2012). The performance of frequent acquirers: Evidence from emerging markets. Global Finance Journal, 23(1), 16–33.
Amernic, J. H., & Craig, R. (2006). CEO-speak: The language of corporate leadership. Kingston: McGill-Queens’ University Press.
Amernic, J., Craig, R., & Tourish, D. (2010). Measuring and assessing tone at the top using annual report CEO letters. Edinburgh: The Institute of Chartered Accountants of Scotland.
Antonakis, J., & Day, D. V. (2017). The nature of leadership. Thousand Oaks: SAGE.
Babiak, P., & Hare, R. D. (2006). Snakes in suits: When psychopaths go to work. New York: Harper Collins.
Barker, R. A. (1997). How can we train leaders if we do not know what leadership is? Human Relations, 50(4), 343–362.
Beinart, P. (2010). The Icarus Syndrome: A history of American hubris. New York: Harper.
Beukeboom, C. J., Tanis, M., & Vermeulen, I. E. (2013). The language of extraversion: Extraverted people talk more abstractly, introverts are more concrete. Journal of Language and Social Psychology, 32(2), 191–201.
Bezos, J. (2014). Amazon’s Jeff Bezos: With Jeremy Clarkson, we’re entering a new golden age of television. The Telegraph. Retrieved from https://www.telegraph.co.uk/technology/amazon/11800890/jeff-bezos-interview-amazon-prime-jeremy-clarkson.html. Accessed 21 May 2019.
Bloomberg, M. (2015). Walk the talk with Michael Bloomberg. NDTV. Retrieved from https://www.ndtv.com/india-news/full-transcript-walkthe-talk-with-michael-bloomberg-752108. Accessed 21 May 2019.
Boddy, C. R. (2011). The corporate psychopaths theory of the global financial crisis. Journal of Business Ethics, 102(2), 255–259.
Boje, D. M., Rosile, G. A., Durant, R. A., & Luhman, J. T. (2004). Enron spectacles: A critical dramaturgical analysis. Organization Studies, 25(5), 751–774.
Brennan, N. M., & Conroy, J. P. (2013). Executive hubris: The case of a bank CEO. Accounting, Auditing and Accountability Journal, 26(2), 172–195.
Brown, M. E., & Treviño, L. K. (2006). Ethical leadership: A review and future directions. The Leadership Quarterly, 17(6), 595–616.
Brunnermeier, M. K., & Pedersen, L. H. (2009). Market liquidity and funding liquidity. Review of Financial Studies, 22(6), 2201–2238.
Burgoon, J., Mayew, W. J., Giboney, J. S., Elkins, A. C., Moffitt, K., Dorn, B., et al. (2016). Which spoken language markers identify deception in high-stakes settings? Evidence from earnings conference calls. Journal of Language and Social Psychology, 35(2), 123–157.
Chambers, J. (2014). 30 Tough Questions For Cisco’s John Chambers. CRN. Retrieved from https://www.crn.com/slideshows/networking/300073614/crn-exclusive-30-tough-questions-for-ciscos-john-chambers.htm. Accessed 21 May 2019.
Chan, G. K. Y. (2017). Confucianism, virtue and leadership. In A. J. G. Sison (Ed.), Handbook of virtue ethics in business and management (pp. 455–456). Dordrecht: Springer.
Chatterjee, A., & Hambrick, D. C. (2007). It’s all about me: Narcissistic chief executive officers and their effects on company strategy and performance. Administrative Science Quarterly, 52(3), 351–386.
Collins, J. (2001). Good to great. London: Random House.
Craig, R., & Amernic, J. (2011). Detecting linguistic traces of destructive narcissism at-a-distance in a CEO’s letter to shareholders. Journal of Business Ethics, 101(4), 563–575.
Craig, R., & Amernic, J. (2014). Exploring signs of hubris in CEO language. Communication and language analysis in the corporate world (pp. 69–88). IGI Global: Hershey, PA.
Craig, R., & Amernic, J. (2018). Are there language markers of hubris in CEO letters to shareholders? Journal of Business Ethics, 149(4), 973–986.
Crossan, M., Mazutis, D., & Seijts, G. (2013). In search of virtue: The role of virtues, values and character strengths in ethical decision making. Journal of Business Ethics, 113(4), 567–581.
De Bruin, B. (2013). Epistemic virtues in business. Journal of Business Ethics, 113(4), 583–595.
Dimon, J. (2015a). JP Morgan chief sees better times ahead for world economy. Asian Review. Retrieved from https://asia.nikkei.com/magazine/20150709-AmericAsian/Exclusive-Interview/JPMorgan-chief-sees-better-times-ahead-for-world-economy. Accessed 21 May 2019.
Dimon, J. (2015b). Jamie Dimon: 'I don’t even care about quarterly earnings’. Bloomberg. Retrieved from https://www.hitc.com/engb/2015/10/19/jamie-dimon-ceos-shouldnt-make-earnings-forecasts/page/1/. Accessed 21 May 2019.
Eckhaus, E., & Sheaffer, Z. (2018). Managerial hubris detection: the case of Enron. Risk Management, 20(4), 304–325.
Fassin, Y., & Gosselin, D. (2011). The collapse of a European bank in the financial crisis: An analysis from stakeholder and ethical perspectives. Journal of Business Ethics, 102(2), 169–191.
Garrard, P. (Ed.). (2018). The leadership hubris epidemic: Biological roots and strategies for prevention. Basingstoke: Palgrave Macmillan.
Garrard, P., & Robinson, G. (Eds.). (2016). The intoxication of power: Interdisciplinary insights. Basingstoke: Palgrave Macmillan.
Garrard, P., Rentoumi, V., Lambert, C., & Owen, D. (2014). Linguistic biomarkers of Hubris syndrome. Cortex, 55(1), 167–181.
Graafland, J. J., & Van de Ven, B. W. (2011). The credit crisis and the moral responsibility of professionals in finance. Journal of Business Ethics, 103(4), 605–619.
Grenberg, J. (2005). Kant and the ethics of humility: A story of dependence, corruption and virtue. Cambridge, MA: Cambridge University Press.
Hambrick, D. C., & Mason, P. A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2), 193–206.
Hartman, E. (2013). Virtue in business: Conversations with Aristotle. Cambridge: Cambridge University Press.
Hartman, E. (2017). Aristotle’s virtue ethics and virtuous business. In A. J. G. Sison (Ed.), Handbook of virtue ethics in business and management (pp. 3–12). Dordrecht: Springer.
Harvard Business Review (2015). The Best-Performing CEOs in the World 2015. Retrieved Feb 08, 2019, from https://hbr.org/2015/11/the-best-performing-ceos-in-the-world.
Haynes, K. T., Hitt, M. A., & Campbell, J. T. (2015). The dark side of leadership: Towards a mid-range theory of hubris and greed in entrepreneurial contexts. Journal of Management Studies, 52(4), 479–505.
Hayward, M. (2007). Ego check: Why executive hubris is wrecking companies and careers and how to avoid the trap. Wokingham: Kaplan Publishing.
Hayward, M. L., & Hambrick, D. C. (1997). Explaining the premiums paid for large acquisitions: Evidence of CEO hubris. Administrative Science Quarterly, 42(1), 103–127.
Henry, Z. (2015). Why great founders have ‘CEO Hubris’. Retrieved Sep 10, 2018, from https://www.inc.com/zoe-henry/why-great-founders-have-ceo-hubris.html.
Hiller, N. J., & Hambrick, D. C. (2005). Conceptualizing executive hubris: The role of hyper core self-evaluations in strategic decision-making. Strategic Management Journal, 26(4), 297–319.
Hogan, R., & Kaiser, R. B. (2005). What we know about leadership. Review of General Psychology, 9(2), 169–202.
Holtzman, N. S., Kwong, S., & Baird, K. L. (2015). Exploring political ideologies of senators with semantic analysis tools: Further validation of CASS. Journal of Language and Social Psychology, 34(2), 200–212.
Horner, M. (1997). Leadership theory: Past, present and future. Team Performance Management: An International Journal, 3(4), 270–287.
Iger, R (2015). Disney Chairman and CEO Bob Iger. CNBC. Retrieved from http://www.cnbc.com/2015/05/05/cnbc-exclusive-cnbc-transcriptdisney-chairman-ceo-bob-iger-speaks-with-cnbcs-squawk-on-the-street-today.html. Accessed 21 May 2019.
Isikoff, M., & Korn, D. (2006). Hubris: The inside story of spin, scandal, and the selling of the Iraq War. New York: Three Rivers Press.
Jobs, S. (2008). Steve Jobs speaks out. Fortune. Retrieved from http://archive.fortune.com/galleries/2008/fortune/0803/gallery.jobsqna.fortune/4.html. Accessed 21 May 2019.
Judge, T. A., Piccolo, R. F., & Kosalka, T. (2009). The bright and dark sides of leader traits: A review and theoretical extension of the leader trait paradigm. The Leadership Quarterly, 20(6), 855–875.
Kacewicz, E., Pennebaker, J. W., Davis, M., Jeon, M., & Graesser, A. C. (2014). Pronoun use reflects standings in social hierarchies. Journal of Language and Social Psychology, 33(2), 125–143.
Kelly, C. M. (2017). Capabilities theory and the virtuous manager. In A. J. G. Sison (Ed.), Handbook of virtue ethics in business and management (pp. 355–366). Dordrecht: Springer.
Kisfalvi, V., & Pitcher, P. (2003). Doing what feels right: The influence of CEO character and emotions on top management team dynamics. Journal of Management Inquiry, 12(1), 42–66.
Kroll, M. J., Toombs, L. A., & Wright, P. (2000). Napoleon’s tragic march home from Moscow: Lessons in hubris. The Academy of Management Executive, 14(1), 117–128.
Ladd, A. E. (2012). Pandora’s well: Hubris, deregulation, fossil fuels, and the BP oil disaster in the Gulf. American Behavioral Scientist, 56(1), 104–127.
Laserna, C. M., Seih, Y. T., & Pennebaker, J. W. (2014). Um… who like says you know: Filler word use as a function of age, gender, and personality. Journal of Language and Social Psychology, 33(3), 328–338.
Lawrence, D. Y., Pazzaglia, F., & Sonpar, K. (2011). The introduction of a non-traditional and aggressive approach to banking: The risks of hubris. Journal of Business Ethics, 102(3), 401–420.
Lewellyn, K. B., & Muller-Kahle, M. I. (2012). CEO power and risk taking: Evidence from the subprime lending industry. Corporate Governance: An International Review, 20(3), 289–307.
Lewis, R. D., & Gates, M. (2005). Leading Across Cultures. Boston: Nicholas Brealey.
LIWC (2015). Mean scores of the general population. Retrieved Sep 10, 2018, from https://liwc.wpengine.com/compare-dictionaries/.
Lowenstein, R. (2000). When genius failed: The rise and fall of Long Term Capital Management. New York: Random House.
Markowitz, D. M. (2018). Academy awards speeches reflect social status, cinematic roles, and winning expectations. Journal of Language and Social Psychology, 37(3), 376–387.
Mason, R. O. (2004). Lessons in organizational ethics from the Columbia disaster: Can a culture be lethal? Organizational Dynamics, 33(2), 128–142.
Mayer, D. M., Kuenzi, M., & Greenbaum, R. L. (2010). Examining the link between ethical leadership and employee misconduct: The mediating role of ethical climate. Journal of Business Ethics, 95(1), 7–16.
McKenny, A. F., Aguinis, H., Short, J. C., & Anglin, A. H. (2018). What doesn’t get measured does exist: Improving the accuracy of computer-aided text analysis. Journal of Management, 44(7), 2909–2933.
McManus, J. (2018). Hubris and unethical decision making: The tragedy of the uncommon. Journal of Business Ethics, 149(1), 169–185.
Miller, D. (1987). Strategy making and structure: Analysis and implications for performance. Academy of Management Journal, 30(1), 7–32.
Miller, D., Kets de Vries, M. F., & Toulouse, J. M. (1982). Top executive locus of control and its relationship to strategy-making, structure, and environment. Academy of Management Journal, 25(2), 237–253.
Mondak, J. J., & Halperin, K. D. (2008). A framework for the study of personality and political behaviour. British Journal of Political Science, 38(2), 335–362.
Morris, J. A., Brotheridge, C. M., & Urbanski, J. C. (2005). Bringing humility to leadership: Antecedents and consequences of leader humility. Human Relations, 58(10), 1323–1350.
Musk, E. (2015a). Exclusive interview with Elon Musk: we’ll have a self-driving Tesla within five years. Tech Radar. Retrieved from https://www.techradar.com/news/car-tech/elon-musk-dieselgate-proves-the-car-industry-needs-a-rethink-1305259. Accessed 21 May 2019.
Musk, E. (2015b). A Conversation With Elon Musk. The Texas Tribune. Retrieved from https://www.texastribune.org/2015/01/13/livestreaminterview-with-elon-musk/. Accessed 21 May 2019.
Naderi, N., & Hirst, G. (2018). Using context to identify the language of face-saving. In Proceedings of the 5th Workshop on Argument Mining (pp. 111–120).
Nadkarni, S., & Herrmann, P. (2010). CEO personality, strategic flexibility, and firm performance: The case of the Indian business process outsourcing industry. Academy of Management Journal, 53(5), 1050–1073.
Osnos, E. (2017, May 5). Is Political Hubris an Illness? Retrieved Sep 10, 2018, from https://www.newyorker.com/news/daily-comment/is-political-hubris-an-illness.
Owen, D. (2007). The hubris syndrome: Bush, blair and the intoxication of power. London: Methuen.
Owen, D. (2011). Psychiatry and politicians–afterword: Commentary on…psychiatry and politicians. The Psychiatrist, 35(4), 145–148.
Owen, D. (2016). In sickness and in power. London: Methuen.
Owen, D. (2018). Hubris; the road to Donald Trump: Power, populism and narcissism. York: Methuen.
Owen, D., & Davidson, J. (2009). Hubris syndrome: An acquired personality disorder? A study of US Presidents and UK Prime Ministers over the last 100 years. Brain, 132(5), 1396–1406.
Owens, B. P., Johnson, M. D., & Mitchell, T. R. (2013). Expressed humility in organizations: Implications for performance, teams, and leadership. Organization Science, 24(5), 1517–1538.
Owens, B. P., Wallace, A. S., & Waldman, D. A. (2015). Leader narcissism and follower outcomes: The counterbalancing effect of leader humility. Journal of Applied Psychology, 100(4), 1203–1213.
Parker, M. (2015). Mark Parker: Details in collaboration. Hype Beast. Retrieved from https://hypebeast.com/2015/10/mark-parker-details-incollaboration?utm_campaign=VigLink&utm_content=Mark%20Parker%3A%20Details%20In%20Collaboration&utm_medium=commissionjunction&utm_source=affiliates. Accessed 21 May 2019.
Padilla, A., Hogan, R., & Kaiser, R. B. (2007). The toxic triangle: Destructive leaders, susceptible followers, and conducive environments. The Leadership Quarterly, 18(3), 176–194.
Park, G., Schwartz, H. A., Eichstaedt, J. C., Kern, M. L., Kosinski, M., Stillwell, D. J., et al. (2015). Automatic personality assessment through social media language. Journal of Personality and Social Psychology, 108(6), 934–953.
Park, J. H., Kim, C., Chang, Y. K., Lee, D. H., & Sung, Y. D. (2018). CEO hubris and firm performance: Exploring the moderating roles of CEO power and board vigilance. Journal of Business Ethics, 147(4), 919–933.
Pennebaker, J. W., & Graybeal, A. (2001). Patterns of natural language use: Disclosure, personality, and social integration. Current Directions in Psychological Science, 10(3), 90–93.
Pennebaker, J. W., Mehl, M. R., & Niederhoffer, K. G. (2003). Psychological aspects of natural language use: Our words, our selves. Annual Review of Psychology, 54(1), 547–577.
Pentland, A. (2008). Honest signals. London: MIT Press.
Peterson, J. S. (2002). A longitudinal study of post-high-school development in gifted individuals at risk for poor educational outcomes. Prufrock Journal, 14(1), 6–18.
Petit, V., & Bollaert, H. (2012). Flying too close to the sun? Hubris among CEOs and how to prevent it. Journal of Business Ethics, 108(3), 265–283.
Picone, P. M., Dagnino, G. B., & Minà, A. (2014). The origin of failure: A multidisciplinary appraisal of the hubris hypothesis and proposed research agenda. The Academy of Management Perspectives, 28(4), 447–468.
Pratt, M. G. (2008). Fitting oval pegs into round holes: Tensions in evaluating and publishing qualitative research in top-tier North American journals. Organizational Research Methods, 11(1), 481–509.
Robinson, J. L., & Topping, D. (2013). The rhetoric of power: A comparison of Hitler and Martin Luther King Jr. Journal of Management Inquiry, 22(2), 194–210.
Roll, R. (1986). The hubris hypothesis of corporate takeovers. Journal of Business, 59(2), 197–216.
Sadler-Smith, E. (2015). Hubris in business and management research: A 30-year review of studies. In P. Garrard & G. Robinson (Eds.), The intoxication of power: Interdisciplinary insights (pp. 39–74). London: Palgrave Macmillan.
Sadler-Smith, E. (2019). Hubristic Leadership. London: SAGE.
Sadler-Smith, E., Akstinaite, V., Robinson, G., & Wray, T. (2017). Hubristic leadership: A review. Leadership, 13(5), 525–548.
Sadler-Smith, E., Robinson, G., Akstinaite, V., & Wray, T. (2018). Hubristic leadership: Understanding the hazard and mitigating the risk. Organizational Dynamics, 1(1), 1–18.
Schultz, H. (2015a). Starbucks Founder, Chairman, President & CEO Howard Schultz Speaks with CNBC’s Jim Cramer on “Mad Money”. Retrieved from https://www.cnbc.com/2015/03/19/cnbc-transcript-starbucks-founder-chairman-president-ceo-howard-schultz-speaks-with-cnbcs-jimcramer-on-mad-money-tonight.html. Accessed 21 May 2019.
Schultz, H. (2015b). Starbucks’ (SBUX) CEO Howard Schultz. Retrieved from https://seekingalpha.com/article/3015706-starbucks-sbux-ceohoward-schultz-hosts-2015-annual-meeting-of-shareholders-conference-transcript. Accessed 21 May 2019.
Sims, R. R., & Brinkmann, J. (2003). Enron ethics (or: culture matters more than codes). Journal of Business Ethics, 45(3), 243–256.
Sison, A. J. G. (2017). Handbook of virtue ethics in business and management. Dordrecht: Springer.
Stein, M. (2003). Unbounded irrationality: Risk and organizational narcissism at long term capital management. Human Relations, 56(5), 523–540.
Stein, M. (2013). When does narcissistic leadership become problematic? Dick Fuld at Lehman Brothers. Journal of Management Inquiry, 22(3), 282–293.
Tang, Y., Qian, C., Chen, G., & Shen, R. (2015). How CEO hubris affects corporate social (ir) responsibility. Strategic Management Journal, 36(9), 1338–1357.
Tausczik, Y. R., & Pennebaker, J. W. (2010). The psychological meaning of words: LIWC and computerized text analysis methods. Journal of Language and Social Psychology, 29(1), 24–54.
Taylor, P. J., & Thomas, S. (2008). Linguistic style matching and negotiation outcome. Negotiation and Conflict Management Research, 1(3), 263–281.
Tietze, S., Cohen, L., & Musson, G. (2003). Understanding organizations through language. London: SAGE.
Tracy, J. (2016). Donald Trump: A case study for hubristic pride. Retrieved Sep 10, 2018, from http://www.cbc.ca/radio/tapestry/pride-and-compassion-1.3815584/donald-trump-a-case-study-for-hubristic-pride-1.3815587.
Trevino, L. K. (1986). Ethical decision making in organizations: A person-situation interactionist model. Academy of Management Review, 11(3), 601–617.
Trump, D. (2014a). Donald Trump on The World's Second Most Powerful Woman: ‘Who Is He?’. Forbes. Retrieved from https://www.forbes.com/sites/andersonantunes/2014/02/18/donald-trump-on-the-worlds-second-most-powerful-woman-who-is-he/#260d0f52314e. Accessed 21 May 2019.
Trump, D. (2014b). Donald Trump: I’m Huge! The Golf Digest. Retrieved from https://www.golfdigest.com/story/donald-trump-interview. Accessed 21 May 2019.
Vera, D., & Rodriguez-Lopez, A. (2004). Strategic virtues: Humility as a source of competitive advantage. Organizational Dynamics, 33(4), 393–408.
Whetstone, J. T. (2001). How virtue fits within business ethics. Journal of Business Ethics, 33(2), 101–114.
Zhang, L., Ren, S., Chen, X., Li, D., & Yin, D. (2018). CEO Hubris and firm pollution: State and market contingencies in a transitional economy. Journal of Business Ethics. https://doi.org/10.1007/s10551-018-3987-y
Author information
Authors and Affiliations
Corresponding author
Ethics declarations
Conflict of interest
The authors declare that they have no conflict of interest.
Research Involving Human and Animal Participants
This article does not contain any studies with human participants performed by any of the authors.
Additional information
Publisher's Note
Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
Electronic supplementary material
Below is the link to the electronic supplementary material.
Rights and permissions
About this article
Cite this article
Akstinaite, V., Robinson, G. & Sadler-Smith, E. Linguistic Markers of CEO Hubris. J Bus Ethics 167, 687–705 (2020). https://doi.org/10.1007/s10551-019-04183-y
Received:
Accepted:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s10551-019-04183-y