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Transferring Celebrity from the CEO to the Organization: An Exploratory Study
Abstract
Organizational celebrity has the potential to be an intangible resource for the firm. Celebrity, however, is often attributed to the CEO rather than the firm. For this reason, understanding the potential transfer of celebrity from the CEO to the organization is of primary importance. We argue that celebrity is a cultural commodity that develops through a co-creation process of exchanges and interactions among CEOs, organizations and media. In this paper, we argue that the transfer of celebrity from the individual to the organizational level depends on causal attributions made by these social actors about the firm’s actions and success. We develop and test hypotheses using a sample of CEO-organization dyads from Fortune 500. Specifically, we look at the change in organizational celebrity before and after the tenure of a CEO, in industries that experience either high medium of low level of media visibility.
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