Trade-off among stakeholders: CEO political orientation and corporate social irresponsibility

IF 7.4 2区管理学 Q1 BUSINESS Long Range Planning Pub Date : 2023-04-01 DOI:10.1016/j.lrp.2022.102273

Livia Markoczy , Kalin D. Kolev , Cuili Qian

引用次数: 5

Abstract

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.

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利益相关者之间的权衡:CEO的政治取向与企业的社会不负责任

我们利用上层梯队理论来研究CEO自由主义——反映在自由-保守光谱上的核心信念——对企业参与企业社会不负责任(CSI)的影响。我们认为，CEO自由主义与对股东和其他非持股利益相关者的不对称对待有关。具体而言，我们区分了对股东的CSI行为和对非持股利益相关者的CSI行为，并预测CEO自由主义在减少对非持股利益相关者的CSI行为的同时，也增加了对股东的CSI行为。我们进一步确定了治理权变因素，如机构所有权、董事会组成和薪酬机制，它们调节了预测的主要关系。我们以2000年至2009年的标准普尔500指数成份股公司为样本检验了我们的预测，发现我们的大多数假设都得到了支持。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Long Range Planning Multiple-

CiteScore

13.00

自引率

7.10%

发文量

期刊介绍： Long Range Planning (LRP) is an internationally renowned journal specializing in the field of strategic management. Since its establishment in 1968, the journal has consistently published original research, garnering a strong reputation among academics. LRP actively encourages the submission of articles that involve empirical research and theoretical perspectives, including studies that provide critical assessments and analysis of the current state of knowledge in crucial strategic areas. The primary user base of LRP primarily comprises individuals from academic backgrounds, with the journal playing a dual role within this community. Firstly, it serves as a platform for the dissemination of research findings among academic researchers. Secondly, it serves as a channel for the transmission of ideas that can be effectively utilized in educational settings. The articles published in LRP cater to a diverse audience, including practicing managers and students in professional programs. While some articles may focus on practical applications, others may primarily target academic researchers. LRP adopts an inclusive approach to empirical research, accepting studies that draw on various methodologies such as primary survey data, archival data, case studies, and recognized approaches to data collection.