When Confidence Meets Control: How CEO Overconfidence Orchestrates Strategic Exploration And Breakthrough Innovation

Variable	Mean	SD	Min	Max
CEO Overconfidence	0.54	0.22	0.08	0.92
Board Expertise	0.41	0.18	0.05	0.83
Board Power	0.63	0.17	0.21	0.94
External Advice-Seeking	4.92	1.03	1.88	6.90
Internal Advice-Seeking	5.11	0.97	2.14	6.88
Coordination Flexibility	4.78	1.08	1.72	6.91
Environmental Dynamism	4.36	1.11	1.90	6.85
Breakthrough Innovation	2.84	1.95	0	9
Business Model Innovation	4.12	1.09	1.63	6.88

Correlations

Variable	1	2	3	4	5	6	7	8	9
1. CEO Overconfidence	-
2. Board Expertise	.18**	-
3. Board Power	.16**	.32***	-
4. External Advice-Seeking	.11	.19**	.14*	-
5. Internal Advice-Seeking	.09	.13*	.12*	.41***	-
6. Coordination Flexibility	.10	.17**	.15**	.29***	.47***	-
7. Environmental Dynamism	.08	.12*	.10	.26***	.21**	.24***	-
8. Breakthrough Innovation	.21**	.29***	.23**	.34***	.16**	.22**	.18**	-
9. Business Model Innovation	.13*	.19**	.17**	.20**	.26***	.42***	.23**	.28***	-

* p < .05,

** p < .01,

*** p < .001

Measurement Model Statistics

Construct	CR	AVE	Factor Loadings
External Advice-Seeking	.89	.67	.71–.88
Internal Advice-Seeking	.91	.69	.73–.90
Coordination Flexibility	.93	.76	.78–.92
Environmental Dynamism	.88	.64	.70–.86
BMI	.90	.68	.74–.89

DOI: https://doi.org/10.2478/ijcm-2026-0012 | Journal eISSN: 2449-8939 | Journal ISSN: 2449-8920

Language: English

Page range: 140 - 159

Published on: Aug 19, 2026

Published by: Jagiellonian University

In partnership with: Paradigm Publishing Services

Publication frequency: 1 issue per year

Keywords:

Related subjects:

© 2026 Nagwan AlQershi, Ramayah Thurasamy, published by Jagiellonian University
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.