Abdullah, Naiping Zhu, Muhammad Arsalan Hashmi, Muhammad Hashim Shah
{"title":"CEO power, board features and ESG performance: An extensive novel moderation analysis","authors":"Abdullah, Naiping Zhu, Muhammad Arsalan Hashmi, Muhammad Hashim Shah","doi":"10.1002/csr.2886","DOIUrl":null,"url":null,"abstract":"<p>The ESG paradigm has exerted increasing pressure on firms to adopt environment-friendly and socially responsible policies. Interestingly, less attention has been paid to the drivers of ESG performance. Therefore, we address this gap by analyzing a sample of Chinese non-financial firms. First, we examine if CEO power dimensions influence ESG performance. Second, we investigate if board gender diversity (BGD) influences the association between CEO power and ESG performance. Third, we explore if board independence and board gender diversity complement each other by influencing the relationship between CEO power and ESG performance. The study has used a rigorous methodology comprising five statistical estimation techniques and several variable measurements. In addition, we extensively analyze the two-way and three-way interactions for moderation analysis. Our unique results indicate that CEO structural and duality powers diminish ESG performance while CEO expert and ownership powers enhance ESG performance. Further, we document that BGD has a positive influence on the association between CEO power and ESG performance. The results also reveal that BGD and BI favorably complement each other by influencing the relationship between CEO power and ESG performance. The further analysis results indicate that an adequate number (or critical mass) of female directors are required on the board along with CEO power to improve ESG performance. We also find that CEO tenure and ownership have an inverted U-shaped relationship with ESG performance.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":"31 6","pages":"5627-5655"},"PeriodicalIF":8.3000,"publicationDate":"2024-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Corporate Social Responsibility and Environmental Management","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/csr.2886","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
The ESG paradigm has exerted increasing pressure on firms to adopt environment-friendly and socially responsible policies. Interestingly, less attention has been paid to the drivers of ESG performance. Therefore, we address this gap by analyzing a sample of Chinese non-financial firms. First, we examine if CEO power dimensions influence ESG performance. Second, we investigate if board gender diversity (BGD) influences the association between CEO power and ESG performance. Third, we explore if board independence and board gender diversity complement each other by influencing the relationship between CEO power and ESG performance. The study has used a rigorous methodology comprising five statistical estimation techniques and several variable measurements. In addition, we extensively analyze the two-way and three-way interactions for moderation analysis. Our unique results indicate that CEO structural and duality powers diminish ESG performance while CEO expert and ownership powers enhance ESG performance. Further, we document that BGD has a positive influence on the association between CEO power and ESG performance. The results also reveal that BGD and BI favorably complement each other by influencing the relationship between CEO power and ESG performance. The further analysis results indicate that an adequate number (or critical mass) of female directors are required on the board along with CEO power to improve ESG performance. We also find that CEO tenure and ownership have an inverted U-shaped relationship with ESG performance.
环境、社会和公司治理范式对企业施加了越来越大的压力，迫使它们采取环境友好和对社会负责的政策。有趣的是，人们对环境、社会和治理绩效的驱动因素关注较少。因此，我们通过分析中国非金融企业样本来弥补这一不足。首先，我们研究了首席执行官的权力是否会影响企业环境、社会和治理绩效。其次，我们研究了董事会性别多样性（BGD）是否会影响 CEO 权力与环境、社会和公司治理绩效之间的关联。第三，我们探讨了董事会独立性和董事会性别多样性是否通过影响首席执行官权力与环境、社会和公司治理绩效之间的关系而相辅相成。本研究采用了严谨的方法，包括五种统计估算技术和多种变量测量方法。此外，我们还广泛分析了双向和三向交互作用，以进行调节分析。我们的独特结果表明，首席执行官的结构权力和双重权力会降低 ESG 表现，而首席执行官的专家权力和所有权权力则会提高 ESG 表现。此外，我们还发现 BGD 对 CEO 权力与 ESG 业绩之间的关联有积极影响。结果还显示，BGD 和 BI 通过影响 CEO 权力与 ESG 绩效之间的关系，形成了有利的互补。进一步的分析结果表明，董事会中需要有足够数量（或临界质量）的女性董事，再加上首席执行官的权力，才能提高环境、社会和公司治理绩效。我们还发现，首席执行官任期和所有权与环境、社会和公司治理绩效呈倒 U 型关系。
期刊介绍：
Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas.
The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号
