The time for the future is now: CEO temporal focus and firms’ identification and interpretation of grand challenges – The example of water scarcity
Fehre, Kerstin Oehmichen, Jana Steinberg, Philip J. Widmann, Bettina
Fehre, Kerstin
Oehmichen, Jana
Steinberg, Philip J.
Widmann, Bettina
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2023
Journal
Journal of Cleaner Production
Book
Publication Volume
406
Publication Issue
June
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Abstract
This study examines whether Chief Executive Officer (CEO) temporal focus—the extent to which CEOs devote their attention to the past, present, and future—is related to firms' identification and interpretation of grand challenges. Using the exemplary grand challenge of water scarcity, we adapt mechanisms of the temporal focus literature to the particularities of grand challenges and propose that CEO temporal focus is related to whether firms identify water scarcity as an issue and whether they interpret the identified issue as an opportunity. In our empirical analysis of 727 firm-year observations for the years 2002–2012, we find no support for the hypothesis that firms’ identification of water scarcity is related to CEO temporal focus. However, we show that having a CEO high in future focus is positively, and a CEO high in past or high in present focus is negatively related to interpreting water scarcity as an opportunity.
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Keywords
Temporal Focus, Grand Challenges, Water Scarcity, Chief Executive Officer