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Larcker, David F.; Miles, Stephen A.; Tayan, Brian; … - 2018

CEO activism — the practice of CEOs taking public positions on environmental, social, and political issues not directly related to their business — has become a hotly debated topic in corporate governance. To better understand the implications of CEO activism, we examine its prevalence, the...

Persistent link: https://www.econbiz.de/10012001263

Is Corporate Social Responsibility an Agency Problem? Evidence from CEO Turnovers

Barrios, John Manuel - 2014

their managers are less likely to be dismissed for poor financial performance. In contrast, if CSR reflects owners …

Persistent link: https://www.econbiz.de/10013039907

Managerial Short-Termism and ESG

Lin, Chen; Wei, Lai; Yang, Nan; Zhang, Yupu - 2021

While practitioners call for long-term managerial compensation to promote firms’ commitment in environmental, social and governance (ESG) issues, little direct evidence exists on the role managerial incentive horizon plays in firms’ ESG performance. Exploiting two alternative identification...

Persistent link: https://www.econbiz.de/10013220730

Do Directors Drive Corporate Sustainability?

Iliev, Peter; Roth, Lukas - 2021

We use the exposure of U.S. firms’ directors to the staggered introduction of sustainability disclosure reforms in foreign countries to study the role of the board of directors in shaping corporate sustainability. Using a difference-in-differences design, we document that the board has a...

Persistent link: https://www.econbiz.de/10013244476

Managerial Contracting and Corporate Social Responsibility

Baron, David P. - 2009

which managers instead of markets allocate resources, including social expenditures. The theory focuses jointly on the … encompass social performance. First, consumers may reward the firm for its social expenditures; second, managers may have … management compensation in increasing in corporate social expenditures. In the theory firms with higher ability managers have …

Persistent link: https://www.econbiz.de/10014026695

CEO Innate Altruism and Firm Corporate Social Responsibility

Marra, Miriam; Ruan, Jing; Schopohl, Lisa; Yin, Chao - 2022

This paper examines the role of CEO’s innate altruism in explaining firm corporate social responsibility (CSR) performance by studying a sample of U.S. firms that are S&P 1500 components over the period 1997-2018. Building on the literature that highlights the importance of cultural heritage...

Persistent link: https://www.econbiz.de/10013492582

Former Politicians as Corporate Directors : Good for Business?

Gray, Stephen - 2013

International studies suggest that directors with political connections provide significant benefits to shareholders. Yet, whether this is the case in the political and business environment in Australia is unknown. In this study, we examine the prevalence of former politicians as non-executive...

Persistent link: https://www.econbiz.de/10013081335

How Do Powerful CEOs View Corporate Social Responsibility (CSR)? An Empirical Note

Jiraporn, Pornsit - 2013

We explore how powerful CEOs view investments in corporate social responsibility (CSR). The agency view suggests that CEOs invest in CSR to enhance their own private benefits. On the contrary, the conflict resolution view argues that CSR investments are made to resolve the conflicts among...

Persistent link: https://www.econbiz.de/10013085700

Does Paying Passive Managers to Engage Improve ESG Performance?

Becht, Marco; Franks, Julian R.; Miyajima, Hideaki; … - 2023

The paper studies a natural experiment in responsible investment conducted by the Japanese Government Pension Investment Fund (GPIF), the largest public pension fund in the world. In 2018 GPIF gave its largest passive manager a remunerated mandate to improve the environmental (E), social (S) and...

Persistent link: https://www.econbiz.de/10014362024

Co-Opted Directors and Corporate Social Responsibility

Afzali, Haroon; Silvola, Hanna; Vähämaa, Sami - 2023

This paper examines the effects of board co-option on corporate social responsibility. Using a sample of U.S. firms over the period 2000-2018, we find that corporate social responsibility is adversely influenced by co-opted directors. Specifically, our results indicate that board co-option is...

Persistent link: https://www.econbiz.de/10014362444