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Trade-off among stakeholders: CEO political orientation and corporate social irresponsibility
Long Range Planning ( IF 7.825 ) Pub Date : 2022-11-08 , DOI: 10.1016/j.lrp.2022.102273
Livia Markoczy, Kalin D. Kolev, Cuili Qian

We draw on the Upper Echelons theory to investigate the effect of CEO liberalism—as reflected by core beliefs on the liberal-conservative spectrum—on firm engagement in corporate social irresponsibility (CSI). We argue that CEO liberalism is related to an asymmetric treatment of shareholders and other non-shareholding stakeholders. Specifically, we distinguish CSI behavior toward shareholders from CSI behavior toward non-shareholding stakeholders and predict that while CEO liberalism reduces CSI behavior toward non-shareholding stakeholders, it also increases CSI behavior toward shareholders. We further identify governance contingency factors, such as institutional ownership, board composition, and compensation mechanisms, that moderate the predicted main relationships. We test our predictions with a sample of S&P 500 firms between 2000 and 2009 and find support for most of our hypotheses.



中文翻译:

利益相关者之间的权衡:CEO 政治取向与企业社会不负责任

我们利用上层梯队理论来调查 CEO 自由主义——正如自由-保守派核心信念所反映的那样——对公司参与企业社会不负责任 (CSI) 的影响。我们认为,CEO 自由主义与股东和其他非持股利益相关者的不对称待遇有关。具体来说,我们将 CSI 对股东的行为与 CSI 对非股东利益相关者的行为区分开来,并预测虽然 CEO 自由主义减少了 CSI 对非股东利益相关者的行为,但它也增加了 CSI 对股东的行为。我们进一步确定了调节预测主要关系的治理权变因素,例如机构所有权、董事会组成和补偿机制。我们用 S& 样本测试我们的预测

更新日期:2022-11-08
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