While previous chapters described dyad-level and group-level behavioral processes of symbolic management, in this chapter we examine processes of symbolic management at a more micro-level of analysis. We describe a kind of self-regulated cognition in which managers and directors reflect on personal and social characteristics held in common with colleagues, and avoid thoughts about attributes not shared, prior to interaction. We explain how such cognitions increase the efficiency and efficacy of social influence behavior toward powerful colleagues within the firm, security analysts, and powerful institutional investors. We further describe how managers engage in self-regulated cognition about firm strategy and governance prior to social influence opportunities with security analysts and institutional investors, and how such cognitions enhance the efficacy of impression management. We also reveal important side benefits of self-regulated cognition, including reduced symptoms of burnout in top executives, and reduced interpersonal conflict in diverse top management teams.
Security Analysts and Capital Market Anomalies