Note(s): Columns (1), (2) report the results of adjusting the study sample. Among them, Column (1) presents the results of the regression after limiting the signature timeliness to five years. Column (2) reports the regression results with the deletion of the 2018 and later year samples. Columns (3) and (4) report the results of considering CEO turnover events. Column (3) reports the DID regression results of the increase in narcissism among successors in CEO resignation events. Column (4) reports the DID regression results of the decrease in narcissism among successors in CEO resignation events. Other variables are defined in Table 1. All regressions are firm-level clustered robust standard errors. *, ** and *** indicate significance at the 10%, 5% and 1% levels, respectively