Employee responses to CEO activism

IF 5.4 1区 管理学 Q1 BUSINESS, FINANCE
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引用次数: 0

Abstract

We examine employee responses to CEO activism, the increasingly common practice of CEOs taking public stances on socio-political issues. CEO activism may bolster employees' identification with their organizations and strengthen shared beliefs among employees. Alternatively, CEO activism may alienate employees if CEO stances contrast with employees' ideologies. We find that employee satisfaction is higher when CEOs engage in activism that is aligned with employees’ ideologies. Furthermore, firms with CEO activism experience a net inflow of productive, ideologically-aligned inventors, which contributes to increased firm-level innovation. The improvements in employee satisfaction and innovation constitute an important channel that connects aligned CEO activism to increased firm value.

员工对首席执行官行动主义的反应
我们研究了员工对首席执行官激进主义的反应,即首席执行官就社会政治问题公开表态这一日益普遍的做法。首席执行官的激进主义可能会增强员工对组织的认同感,加强员工之间的共同信念。相反,如果首席执行官的立场与员工的意识形态相悖,首席执行官的激进主义可能会疏远员工。我们发现,当首席执行官参与的激进主义与员工的意识形态一致时,员工的满意度会更高。此外,CEO激进主义的公司会净流入具有生产力、与意识形态一致的发明家,这有助于提高公司层面的创新能力。员工满意度和创新能力的提高构成了连接CEO激进主义与公司价值提升的重要渠道。
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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来源期刊
CiteScore
8.70
自引率
6.80%
发文量
68
期刊介绍: The Journal of Accounting and Economics encourages the application of economic theory to the explanation of accounting phenomena. It provides a forum for the publication of the highest quality manuscripts which employ economic analyses of accounting problems. A wide range of methodologies and topics are encouraged and covered: * The role of accounting within the firm; * The information content and role of accounting numbers in capital markets; * The role of accounting in financial contracts and in monitoring agency relationships; * The determination of accounting standards; * Government regulation of corporate disclosure and/or the Accounting profession; * The theory of the accounting firm.
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