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EMAC 2023 Annual

CMO Personality and Corporate Innovation

Published: May 24, 2023


Paul Hilfrich, Goethe University Frankfurt; Simone Wies, Goethe University Frankfurt


Research on CEO personality demonstrates that executive personality affects corporate behaviour and performance. Yet, research on the role of CMO personality is limited. This study analyses the relationship between CMO personality and firm innovation outcomes. We assess CMO personality traits by applying textual analysis to more than 28,000 earnings call transcripts. Combining various data sources and using random effects models, our initial results suggest that CMO personality affects firm innovation, even when controlling for CEO personality traits. In addition, the personality of the CEO has an impact on the personality of the newly hired CMOs. A key implication of this study is that the personality of the CMO is relevant to a firm’s marketing strategy.