Indelible imprint: CEOs’ poverty experience and corporate labor income share

IF 10.5 1区管理学 Q1 BUSINESS

Journal of Business Research Pub Date : 2025-06-25 DOI:10.1016/j.jbusres.2025.115539

Liang Wang , Jun Hu , Daifei Yao , Miroslaw J. Skibniewski

引用次数: 0

Abstract

This study examines the impact of CEOs’ poverty experiences on firms’ labor income share. Using a manually compiled dataset that matches the birthplaces of CEOs with poverty-stricken counties in China, we find that firms led by CEOs with poverty experience have a considerably higher labor income share. This effect is stronger for firms located in CEOs’ hometowns, labor-intensive firms, and CEOs with higher educational attainment. Further analysis reveals that CEO poverty experience increases labor income share through self-restraint in expenses (reducing discretionary managerial costs) and investment in employees (enhancing wages, benefits, and training programs). Our findings support imprinting theory and distributive justice theory, suggesting that early-life adversity leaves a lasting effect on CEOs’ decision-making, thereby influencing corporate resource allocation and employee welfare policies.

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不可磨灭的印记：ceo的贫困经历与企业劳动收入份额

本研究考察了ceo的贫困经历对企业劳动收入份额的影响。我们使用人工编制的数据集，将ceo的出生地与中国的贫困县相匹配，发现由有贫困经历的ceo领导的企业的劳动收入占比要高得多。这种效应在ceo家乡的企业、劳动密集型企业和ceo受教育程度较高的企业中更为明显。进一步分析表明，CEO的贫困经历通过自我约束支出（减少可自由支配的管理成本）和对员工的投资（提高工资、福利和培训计划），提高了劳动收入份额。研究结果支持了印记理论和分配正义理论，表明早期生活逆境对ceo的决策产生了持久的影响，从而影响了企业资源配置和员工福利政策。

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

Journal of Business Research BUSINESS-

CiteScore

20.30

自引率

10.60%

发文量

956

期刊介绍： The Journal of Business Research aims to publish research that is rigorous, relevant, and potentially impactful. It examines a wide variety of business decision contexts, processes, and activities, developing insights that are meaningful for theory, practice, and/or society at large. The research is intended to generate meaningful debates in academia and practice, that are thought provoking and have the potential to make a difference to conceptual thinking and/or practice. The Journal is published for a broad range of stakeholders, including scholars, researchers, executives, and policy makers. It aids the application of its research to practical situations and theoretical findings to the reality of the business world as well as to society. The Journal is abstracted and indexed in several databases, including Social Sciences Citation Index, ANBAR, Current Contents, Management Contents, Management Literature in Brief, PsycINFO, Information Service, RePEc, Academic Journal Guide, ABI/Inform, INSPEC, etc.