The impact of CEO’s attributes on R&D intensity and ESG practices

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-08-06 DOI:10.1080/02102412.2021.1944459

Sahar E-Vahdati, F. Binesh

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引用次数: 8

Abstract

ABSTRACT This study examines the impact of CEO attributes on R&D intensity and the mediating role of environmental, social, and governance (ESG) practice on the aforementioned relationship. We concentrate on international companies listed on New York Stock Exchange (NYSE), from six geographical regions, which followed ESG practices, adapted from the international standards of Global Reporting Initiative (GRI) from 2016 to 2017. Our results show a significant positive association between CEO education and R&D intensity; indicating that R&D intensity is higher when CEOs have a higher level of education. Our findings also report that CEO duality is negatively associated with R&D intensity. However, CEO age is not associated with R&D intensity. Further, we suggest that CEO education and CEO duality have partial mediation effects through mediation path analysis, and that the CSR committee positively influences the proposed model. The present study contributes to the prior literature by examining the mediating effect of ESG practice on the link between different CEOs’ attributes and R&D intensity.

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CEO属性对研发强度和ESG实践的影响

本研究考察了CEO属性对研发强度的影响，以及环境、社会和治理(ESG)实践在上述关系中的中介作用。我们专注于在纽约证券交易所(NYSE)上市的国际公司，这些公司来自六个地理区域，遵循2016年至2017年根据全球报告倡议组织(GRI)国际标准调整的ESG实践。研究结果表明:CEO学历与研发强度之间存在显著正相关关系;表明ceo受教育程度越高，研发强度越高。我们的研究结果还表明，CEO二元性与研发强度呈负相关。然而，CEO的年龄与研发强度之间没有相关性。进一步，通过中介路径分析，我们发现CEO学历和CEO二元性存在部分中介效应，企业社会责任委员会对模型产生正向影响。本研究通过检验ESG实践在不同ceo属性与研发强度之间的中介作用，补充了前人的研究成果。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad

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