{"title":"Serving the people: Board’s communist ideology imprinting and CEO compensation","authors":"Ethan Xin Liu , David H. Weng","doi":"10.1016/j.jbusres.2024.115169","DOIUrl":null,"url":null,"abstract":"<div><div>This study examines how communist ideology imprinting on board members influences CEO compensation. We contend that strong communist imprinting acquired during their formative years will induce board members to offer low CEO salaries because traditional communist ideology advocates both individual service to the public and amelioration of income equality in society. We also propose that this effect is lessened in economically developed regions but more pronounced in concentrated industries. Analyzing a sample of Chinese public firms, we find support for our arguments. Our findings suggest that communist ideology still prevails in today’s China, and that this prevalence can influence board-CEO interactions.</div></div>","PeriodicalId":15123,"journal":{"name":"Journal of Business Research","volume":"189 ","pages":"Article 115169"},"PeriodicalIF":10.5000,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Business Research","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0148296324006738","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
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Abstract
This study examines how communist ideology imprinting on board members influences CEO compensation. We contend that strong communist imprinting acquired during their formative years will induce board members to offer low CEO salaries because traditional communist ideology advocates both individual service to the public and amelioration of income equality in society. We also propose that this effect is lessened in economically developed regions but more pronounced in concentrated industries. Analyzing a sample of Chinese public firms, we find support for our arguments. Our findings suggest that communist ideology still prevails in today’s China, and that this prevalence can influence board-CEO interactions.
期刊介绍：
The Journal of Business Research aims to publish research that is rigorous, relevant, and potentially impactful. It examines a wide variety of business decision contexts, processes, and activities, developing insights that are meaningful for theory, practice, and/or society at large. The research is intended to generate meaningful debates in academia and practice, that are thought provoking and have the potential to make a difference to conceptual thinking and/or practice. The Journal is published for a broad range of stakeholders, including scholars, researchers, executives, and policy makers. It aids the application of its research to practical situations and theoretical findings to the reality of the business world as well as to society. The Journal is abstracted and indexed in several databases, including Social Sciences Citation Index, ANBAR, Current Contents, Management Contents, Management Literature in Brief, PsycINFO, Information Service, RePEc, Academic Journal Guide, ABI/Inform, INSPEC, etc.
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