New research from the University of Mannheim Business School reveals that CEOs with high levels of self-confidence tend to prefer maintaining stability within their organizations rather than implementing major strategic changes. The study analyzed data from approximately 1,200 S&P CEOs, assessing their hubris levels and their propensity for strategic change, such as restructuring or altering the top management team. Surprisingly, it found that hubristic CEOs were less likely to initiate significant organizational changes, despite their confidence in handling challenging strategic activities.