Using chief executive officers’ (CEOs’) lifetime nonemployment experience in prominent charitable organizations to create a proxy for CEO charitable inclination, I find that charitably inclined CEOs receive a significant pay premium. The pay premium sensitivity to CEO charitable inclination is particularly pronounced for male, external, and specialist CEOs who are employed at firms that are undiversified, larger, less debt reliant, poor performing, facing high product‐market competition, and that keep nonmanipulative financial statements and demonstrate high inclination to social responsibility in the area of diversity, employee relations, and internal governance. This research contributes to the broader debate on labor market pricing of CEO characteristics.

中文翻译：

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慈善倾向和首席执行官的薪酬待遇

我利用著名慈善组织的首席执行官一生的无业工作经验来创建CEO慈善倾向的代理人，我发现具有慈善倾向的CEO会获得可观的薪酬溢价。薪酬溢价对CEO慈善倾向的敏感性特别体现在男性，外部和专业CEO，他们在不同的公司工作，规模更大，债务更少，业绩不佳，产品市场竞争激烈并保持非操纵性财务报表在多元化，员工关系和内部治理方面表现出高度的社会责任感。这项研究为首席执行官特征在劳动力市场定价方面的广泛辩论做出了贡献。