Shiwei Lin , Yiru Zhang , Yanuo Wang , Haipeng Geng
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引用次数: 0
Abstract
Despite considerable attention being devoted to the antecedents of ESG, existing research has overlooked the pivotal role of CEO reputation in determining a firm's ESG performance. We propose that ESG performance is influenced by reputable CEOs’ impression management motive to maintain their status as celebrity. Utilizing a longitudinal data set of A-share listed firms from 2014 to 2020, we find that firms led by highly reputable CEOs demonstrate superior ESG performance compared to those led by less reputable counterparts, particularly in contexts featured by uncertainty and munificence. Heterogeneity analyses reveal that CEOs with political connections and those in state-owned enterprises (SOEs) are likely to place a higher value on their reputation. Our findings provide valuable insights for firms aiming to enhance ESG performance.
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