CEO早期任职的职业关注和企业社会责任报告

IF 3.2 3区 管理学 Q1 BUSINESS, FINANCE
Long Chen, Chih-Hsien Liao, Albert Tsang, Li Yu
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引用次数: 0

摘要

关于企业社会责任(CSR)披露的文献主要关注其经济后果,但对此类披露背后的动机——尤其是首席执行官的个人激励——知之甚少。通过使用一系列企业社会责任报告措施,我们发现首席执行官在任职初期的职业担忧促使他们将自愿企业社会责任作为一种信号机制。首席执行官任期和企业社会责任报告之间的负面关联在信息中介机构更强的公司中更为明显,也就是说,对社会负责的投资者水平更高,关注的分析师数量更高,媒体报道水平更高。我们还发现,与任期后期的CEO相比,CEO在任期早期自愿报告企业社会责任后获得了更多的个人利益,包括更高的总薪酬、更好的声誉和更少的离职率。总之,我们的研究结果支持了这样一种猜测,即首席执行官在任职初期的职业担忧可能是企业自愿报告企业社会责任的重要决定因素。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
CEO career concerns in early tenure and corporate social responsibility reporting

The literature on corporate social responsibility (CSR) disclosure focuses on its economic consequences, but little is known about motivations—especially CEO personal incentives—behind such disclosure. Using an array of CSR reporting measures, we find that career concerns of CEOs early in their tenure motivate them to use voluntary CSR reporting as a signaling mechanism. The negative association between CEO tenure and CSR reporting is more pronounced in firms with stronger information intermediaries—that is, a higher level of socially responsible investors, a higher number of analysts following, and a higher level of media coverage. We also find that CEOs early in their tenure receive more personal benefits after voluntary CSR reporting, in terms of higher total compensation, better reputation, and less turnover, than CEOs later in their tenure. Taken together, the findings of our study lend support to the conjecture that CEO career concerns early in their tenure can be an important determinant of firms' voluntary CSR reporting.

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来源期刊
CiteScore
6.20
自引率
11.10%
发文量
97
期刊介绍: Contemporary Accounting Research (CAR) is the premiere research journal of the Canadian Academic Accounting Association, which publishes leading- edge research that contributes to our understanding of all aspects of accounting"s role within organizations, markets or society. Canadian based, increasingly global in scope, CAR seeks to reflect the geographical and intellectual diversity in accounting research. To accomplish this, CAR will continue to publish in its traditional areas of excellence, while seeking to more fully represent other research streams in its pages, so as to continue and expand its tradition of excellence.
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