RESUMO
Background: business leaders' social status significantly impacts companies' strategic direction and performance. Digital transformation, an important tool for companies to enhance competitiveness and resilience, plays an important role in the relationship between executive background and firm performance. Objective: To investigate the impact of celebrity chief executive officers (CEO) on firm performance through digital transformation. Method: Using data from companies listed on the main boards of the Shanghai and Shenzhen Stock Exchanges between 2017 and 2021, this study explored the relationship between celebrity CEOs, digital transformation, and firm performance. Result: Celebrity CEOs significantly enhanced a firm's digital transformation. However, this effect weakened when controlling shareholders and institutional investors held more shares. Additionally, the study showed that celebrity CEOs can improve firm performance through digital transformation. These findings were robust across a range of sensitivity analyses. Conclusion: This study contributes to understanding celebrity CEOs' decision-making motivations and economic impacts from a psychological perspective while also providing valuable insights for driving digital transformation within companies.
RESUMO
With the recent economic and social development of China, there has been a growing awareness among citizens. The concept of Not In My Backyard (NIMBY) has emerged as a highly public issue, capable of sparking conflicts of interest between the public and the government. To assist the government in making well-informed decisions and respecting the interests of local residents, this study comprehensively explores the diverse factors that contribute to the varying outcomes of the NIMBY phenomenon. To achieve this, a qualitative comparative analysis with a fuzzy set (fsQCA) was conducted on 31 cases that occurred in China between 2009 and 2021. The findings reveal seven paths that would lead to the cancellation of NIMBY facilities. Among those paths, government credibility and social media involvement are the two crucial factors in NIMBY problem-solving. To some extent, violence can drive the cancellation of NIMBY projects. Local governments are more likely to compromise on NIMBY in the case of harmful facilities. However, this study emphasizes that constant compromise may not always be the most effective solution for the government. Instead, it proposes three potential approaches that can simultaneously address neighborhood satisfaction and foster local economic development in the context of NIMBYism. These approaches include the following. The construction of a multiple participant system: By involving multiple stakeholders in the decision-making process, such as local residents, government officials, experts, and industry representatives, a more inclusive and transparent approach can be adopted to address NIMBY concerns. The judicious use of online platforms: Leveraging social media and online platforms can facilitate effective communication and engagement between the government, local residents, and other relevant stakeholders. This can help in building trust, disseminating information, and encouraging dialogue to address NIMBY concerns. The popularization of science: Promoting scientific literacy among the public can help address misconceptions and fears associated with NIMBY facilities. By providing accessible and accurate information, this study suggests that the popularization of science can contribute to a better understanding of the benefits and risks associated with such facilities. By implementing these approaches, this study suggests that the government can make well-informed decisions, respect the interests of local residents, and mitigate conflicts arising from the NIMBY phenomenon while fostering local economic development.
