Abstract: Based on the psychological characteristics of managers, using behavioral consistency theory, and choosing Chinese companies' data listed in SSE board from 2013 to 2017, this paper studies deeply the influence of narcissistic chairmen of state-owned enterprises on corporate social responsibility, the problem of potentially excessive social responsibility, and the influence of this behavior on corporate performance. On the basis of this, the paper further studies the mediating role that the power distance between chairmen and CEOs plays in excessive corporate social responsibility. The conclusions show that enterprises under the leadership of narcissistic chairmen will assume more social responsibilities. However, because of the agency problem of state-owned enterprises, narcissistic board chairmen are more likely to take excessive social responsibility for the sake of their own interest. This problem is negative for corporate performance, especially when the chairman has more power in his company. This paper examines the relationships between managers and CSR from the perspective of managerial psychological characteristics, which breaks through the current framework of CSR research, enriches the contents of CSR research, and provides evidences for manager selection and opportunistic governance in reality.

Key words: chairmen, narcissism, corporate social responsibility, state-owned enterprises