Determinants of CSR practices: analysis of the influence of ownership and the management profile mediating effect

IF 0.9 4区管理学 Q3 BUSINESS, FINANCE

Spanish Journal of Finance and Accounting-Revista Espanola De Financiacion Y Contabilidad Pub Date : 2014-01-02 DOI:10.1080/02102412.2014.890824

José‐Luis Godos‐Díez, Roberto Fernández‐Gago, L. Cabeza‐García, Almudena Martínez-Campillo

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引用次数: 20

Abstract

The purpose of this article is to study the relevance of ownership and top management characteristics in the implementation of corporate social responsibility (CSR) activities. Specifically, it is proposed that ownership structure characterised by the presence of large shareholders is related to CSR activities and that this relationship may be mediated by the CEO management profile in accordance with the Agency–Stewardship approach. The results of mediation analysis on a sample of 101 non-listed companies in Spain show that those with a higher ownership concentration tend to be run by managers whose profile is closer to the steward than the agent model and to be more involved in CSR activities. Our findings also support the existence of the suggested mediating effect. This article goes further than existing research on owners and top managers as determinants of CSR and unveils new ways to address this topic empirically.

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企业社会责任实践的决定因素:所有权的影响及管理概况的中介效应分析

本文的目的是研究所有权和高层管理特征在企业社会责任(CSR)活动实施中的相关性。具体来说，有人提出，以大股东存在为特征的所有权结构与企业社会责任活动有关，这种关系可以根据机构-管理方法由首席执行官管理概况调解。对西班牙101家非上市公司样本的中介分析结果表明，股权集中度较高的公司往往由更接近管家的管理者经营，而不是代理模式，并且更多地参与企业社会责任活动。我们的发现也支持了中介效应的存在。本文比现有的关于所有者和高层管理者作为企业社会责任决定因素的研究更进一步，并揭示了从经验上解决这一问题的新方法。

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

Spanish Journal of Finance and Accounting-Revista Espanola De Financiacion Y Contabilidad BUSINESS, FINANCE-

CiteScore

2.10

自引率

10.00%

发文量

期刊介绍： The Spanish Journal of Finance and Accounting ( SJFA) is a quarterly academic journal founded in 1972. It aims to publish high quality research papers in accounting and finance. The scope of SJFA covers theoretical and empirical analysis relating to financial markets and institutions, corporate finance, market microstructure, corporate governance, internal and management accounting and a wide spectrum of financial performance and financial reporting, including auditing and public accounting. The Journal welcomes both theoretical and empirical contributions, and in particular, theoretical papers that yield novel testable implications and empirical papers that are theoretically well motivated. The journal is not a suitable outlet for highly abstract mathematical papers or empirical papers with inadequate theoretical motivation. All manuscripts that meet these editorial guidelines are blind reviewed by external reviewers. SJFA sponsors a periodic conference in which selected papers under review are presented and discussed by additional reviewers in order to increase the quality of the papers published in the journal. If accepted for publication, these selected articles are published in the Journal with a special distinction. The Journal welcomes replies and discussions to both published and forthcoming articles. These contributions, if accepted by the editors, may eventually be published jointly with a reply or comment by the authors of the original paper.