Hisham Farag, Santosh Koirala, Di Luo, Sandeep Rao
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引用次数: 0
Abstract
Distinguished societal recognition can influence corporate decision-makers to act responsibly. We exploit this unique sociological attribute of UK firm board members and examine the impact of honorary titles on the firm's environmental, social and governance (ESG) performances. Using the peerage and honorific titles of board members of public UK firms from 2002 to 2020, we demonstrate that firms wherein board members have a title of honour are associated with higher ESG performance. We also document a positive contagion effect of titleholders on other board members, which contributes to firms’ ESG performance. Our findings align with theories of resource dependence, upper echelons and peer effects postulations and highlight the importance of societal recognition in shaping corporate decisions towards sustainability.
期刊介绍：
The British Journal of Management provides a valuable outlet for research and scholarship on management-orientated themes and topics. It publishes articles of a multi-disciplinary and interdisciplinary nature as well as empirical research from within traditional disciplines and managerial functions. With contributions from around the globe, the journal includes articles across the full range of business and management disciplines. A subscription to British Journal of Management includes International Journal of Management Reviews, also published on behalf of the British Academy of Management.
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