Mathew L. A. Hayward

Publications32
h-index11
Citations4,120
Highly Influential Citations311
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Explaining the Premiums Paid for Large Acquisitions: Evidence of CEO Hubris
We thank Mark Sirower for bringing Buffett's remarks to our attention. This study examines the role of a chief executive officer's hubris, or exaggerated self-confidence, in explaining the large size… Expand
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When do firms learn from their acquisition experience? Evidence from 1990 to 1995
I use an organizational learning perspective to examine how the nature, performance and timing of a firm's acquisition experience helps it to learn how to select the right acquisition. I predict the… Expand
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  • 73
A Hubris Theory of Entrepreneurship
TLDR
We develop a hubris theory of entrepreneurship to explain why so many new ventures are created in the shadow of high venture failure rates: More confident actors are moved to start ventures, and then act on such confidence when deciding how to allocate resources in their ventures. Expand
  • 547
  • 42
Believing one's own press: the causes and consequences of CEO celebrity
This theoretical article introduces the construct of CEO celebrity in order to explain how the tendency of journalists to attribute a firm's actions and outcomes to the volition of its CEO affects… Expand
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  • 24
  • PDF
Celebrity Firms: The Social Construction Of Market Popularity
We extend the concept of celebrity from the individual to the firm level of analysis and argue that the high level of public attention and the positive emotional responses that define celebrity… Expand
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  • PDF
Beyond Hubris: How Highly Confident Entrepreneurs Rebound to Venture Again
This article outlines why highly confident entrepreneurs of focal ventures are better positioned to start and succeed with another venture; and therefore why overconfidence in one's capabilities… Expand
  • 246
  • 21
  • PDF
Helping Other CEOs Avoid Bad Press
In this study, we examine the determinants and consequences of impression management (IM) support in communications between CEOs and journalists, whereby CEOs of other firms provide positive… Expand
  • 70
  • 9
  • PDF
Power and Conflicts of Interest in Professional Firms: Evidence from Investment Banking
We study the resolution of conflicts of interest that arise when actors in professional firms represent separate parties with competing interests, using models of power and reputation to predict the… Expand
  • 161
  • 7
De-commitment to losing strategic action: Evidence from the divestiture of poorly performing acquisitions
We use a mental accounting framework to study the conditions in which CEOs de-commit to poorly performing acquisitions and so become more likely to divest them. We test this framework by contrasting… Expand
  • 95
  • 6
Professional influence: The effects of investment banks on clients acquisition financing and performance
This study examines the conditions in which professional firms use client engagements to get clients to subsequently hire them. The central thesis is that professional firms derive power from their… Expand
  • 57
  • 5