Marcos Carchano, Inmaculada Carrasco, Ángela González, Francisco J. Sáez‐Martínez
The importance of international environmental strategies in the business sphere has gained recognition in recent times. These strategies not only have the potential to generate competitive advantages but also to maintain them over time. However, despite their increasing relevance, differences in outcomes and implementation implications exist, suggesting the need for a more detailed analysis of the determinants and consequences of these practices. Based on original data from 251 Spanish wineries and using structural equation modeling, this study explores how internationalization can drive the implementation of environmental practices and financial performance by investigating the role of proactive environmental strategy and the mediating effect of eco‐innovation. Our findings demonstrate that a proactive environmental strategy has a positive impact on both internationalization and eco‐innovation. Furthermore, it was found that the internationalization strategy has a significant positive effect on eco‐innovation. The more internationalized companies are, the more likely they are to engage in eco‐innovation. Eco‐innovation is crucial for increasing profits in international markets. While internationalization alone does not guarantee higher profitability, combining it with eco‐innovations significantly improves the financial performance of companies, highlighting the importance of sustainability and environmental innovation in global business strategy.
{"title":"Analysis the nexus between internationalization and financial performance in wine industry: The effect of proactive environmental strategy and eco‐innovation","authors":"Marcos Carchano, Inmaculada Carrasco, Ángela González, Francisco J. Sáez‐Martínez","doi":"10.1002/csr.2894","DOIUrl":"https://doi.org/10.1002/csr.2894","url":null,"abstract":"The importance of international environmental strategies in the business sphere has gained recognition in recent times. These strategies not only have the potential to generate competitive advantages but also to maintain them over time. However, despite their increasing relevance, differences in outcomes and implementation implications exist, suggesting the need for a more detailed analysis of the determinants and consequences of these practices. Based on original data from 251 Spanish wineries and using structural equation modeling, this study explores how internationalization can drive the implementation of environmental practices and financial performance by investigating the role of proactive environmental strategy and the mediating effect of eco‐innovation. Our findings demonstrate that a proactive environmental strategy has a positive impact on both internationalization and eco‐innovation. Furthermore, it was found that the internationalization strategy has a significant positive effect on eco‐innovation. The more internationalized companies are, the more likely they are to engage in eco‐innovation. Eco‐innovation is crucial for increasing profits in international markets. While internationalization alone does not guarantee higher profitability, combining it with eco‐innovations significantly improves the financial performance of companies, highlighting the importance of sustainability and environmental innovation in global business strategy.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":9.8,"publicationDate":"2024-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141549173","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Yiming Ma, Muhammad Ishfaq Ahmad, Riccardo Torelli
This study analyzed whether the audit committee moderates the relationship between gender diversity and environmental, social, and governance (ESG) disclosures among Chinese listed firms. Data on energy sector companies from 2012 to 2022 were taken from the Chinese Stock Market and Accounting Research database to test the moderation model. Gender diversity was measured as the percentage of females on boards using the Blau and Shannon indices. Board gender diversity directly and positively affected both the overall and individual dimensions of ESG disclosures. Furthermore, the audit committee moderated the relationship between gender diversity and ESG disclosure. This study provides valuable insights for managers and investors to evaluate the role of gender diversity and audit committees in ESG disclosures and facilitates them in making better decisions. Furthermore, regulators can revise corporate governance codes to promote more female inclusion not only on corporate boards but also on subcommittees to protect the rights of stakeholders.
{"title":"Board gender diversity and ESG disclosure: The moderating role of audit committee","authors":"Yiming Ma, Muhammad Ishfaq Ahmad, Riccardo Torelli","doi":"10.1002/csr.2895","DOIUrl":"https://doi.org/10.1002/csr.2895","url":null,"abstract":"This study analyzed whether the audit committee moderates the relationship between gender diversity and environmental, social, and governance (ESG) disclosures among Chinese listed firms. Data on energy sector companies from 2012 to 2022 were taken from the Chinese Stock Market and Accounting Research database to test the moderation model. Gender diversity was measured as the percentage of females on boards using the Blau and Shannon indices. Board gender diversity directly and positively affected both the overall and individual dimensions of ESG disclosures. Furthermore, the audit committee moderated the relationship between gender diversity and ESG disclosure. This study provides valuable insights for managers and investors to evaluate the role of gender diversity and audit committees in ESG disclosures and facilitates them in making better decisions. Furthermore, regulators can revise corporate governance codes to promote more female inclusion not only on corporate boards but also on subcommittees to protect the rights of stakeholders.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141680624","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this study, we emphasize the pivotal role of national environmental, social, and governance (ESG) performance, encompassing both host and home countries, in shaping the implications of firm‐specific ESG performance for the attractiveness of multinational enterprises (MNEs) as preferred employers. Our research puts forth three hypotheses. First, we propose that superior ESG performance by MNEs will exhibit a positive relationship with their perceived appeal as employers. Second, we theorize that higher national ESG performance in the home country will amplify the positive relationship between an MNE's ESG performance and its attractiveness as an employer. Lastly, we posit that superior national ESG performance in the host country will similarly strengthen the positive association between an MNE's ESG performance and its desirability as an employer. The empirical data robustly supports these hypotheses.
{"title":"Interplay of national and firm environmental, social, and governance performances: Reshaping multinational enterprises' employer attractiveness across home and host countries","authors":"Anthony Kuo, Donna Chien, Ming‐Sung Kao","doi":"10.1002/csr.2899","DOIUrl":"https://doi.org/10.1002/csr.2899","url":null,"abstract":"In this study, we emphasize the pivotal role of national environmental, social, and governance (ESG) performance, encompassing both host and home countries, in shaping the implications of firm‐specific ESG performance for the attractiveness of multinational enterprises (MNEs) as preferred employers. Our research puts forth three hypotheses. First, we propose that superior ESG performance by MNEs will exhibit a positive relationship with their perceived appeal as employers. Second, we theorize that higher national ESG performance in the home country will amplify the positive relationship between an MNE's ESG performance and its attractiveness as an employer. Lastly, we posit that superior national ESG performance in the host country will similarly strengthen the positive association between an MNE's ESG performance and its desirability as an employer. The empirical data robustly supports these hypotheses.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":9.8,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141549174","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study investigates the factors influencing intentions to adopt circular business models (CBMs) among businesses in Vietnam, a manufacturing hub in the region. To conduct the investigation, we developed a conceptual framework based on the behavioral theory of the firm and the resource‐based view, categorizing factors into two dimensions: financial and non‐financial. Through empirical analysis involving a survey of 291 businesses and employing partial least squares structural equation modeling (PLS‐SEM), we found that financial factors, including capital availability, expected economic benefits, and cost management competence, exert a stronger influence on the adoption of CBMs compared to non‐financial factors, such as stakeholder pressure, technology competence, and innovation competence. Furthermore, while several businesses are actively engaging in activities related to CBMs, managerial commitment towards full CBM adoption remains a prospective goal rather than an immediately actionable present reality. This study contributes in both theoretical and practical terms by addressing a critical research gap and quantifying the impact of financial and non‐financial factors on CBM adoption. Our findings offer valuable insights for businesses and policymakers, facilitating the promotion of circular economy and sustainable development.
{"title":"The influence of financial and non‐financial factors on the adopting intentions of businesses towards circular business models: Evidence from Vietnam","authors":"Tu Tran, Anh Nguyen‐Thi‐Phuong","doi":"10.1002/csr.2878","DOIUrl":"https://doi.org/10.1002/csr.2878","url":null,"abstract":"This study investigates the factors influencing intentions to adopt circular business models (CBMs) among businesses in Vietnam, a manufacturing hub in the region. To conduct the investigation, we developed a conceptual framework based on the behavioral theory of the firm and the resource‐based view, categorizing factors into two dimensions: financial and non‐financial. Through empirical analysis involving a survey of 291 businesses and employing partial least squares structural equation modeling (PLS‐SEM), we found that financial factors, including capital availability, expected economic benefits, and cost management competence, exert a stronger influence on the adoption of CBMs compared to non‐financial factors, such as stakeholder pressure, technology competence, and innovation competence. Furthermore, while several businesses are actively engaging in activities related to CBMs, managerial commitment towards full CBM adoption remains a prospective goal rather than an immediately actionable present reality. This study contributes in both theoretical and practical terms by addressing a critical research gap and quantifying the impact of financial and non‐financial factors on CBM adoption. Our findings offer valuable insights for businesses and policymakers, facilitating the promotion of circular economy and sustainable development.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":9.8,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141549176","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Christoph P. Kiefer, Javier Carrillo‐Hermosilla, Pablo del Río
There is a widespread agreement that the current linear economic system is unsustainable due to the physical boundaries of our planet and must be replaced by a circular one, that is, by a circular economy (CE). Previous studies have theoretically proposed that eco‐innovations (EIs), or innovations that reduce the environmental impacts of consumption and production processes, are a key element to improve the circular use of resources. However, the analysis of the drivers of such a transition to a CE through EI, particularly at the micro‐level of firms, has not received attention in the past. The aim of this paper is to cover this gap in the literature. It quantitatively analyses the role of influencing factors (drivers and barriers) in that relationship, with a focus on the company's organisational (‘soft’) factors, rooted in organisational culture and strategy. With the help of data collected through a survey of Spanish small and medium‐sized firms in the industrial sector, a regression‐based moderation analysis is carried out. Therefore, four moderation models were defined based on organisational factors derived from the previous literature (sustainability, future, stakeholder and learning/knowledge orientation in firms. The results suggest that, indeed, two of those factors (a high level of sustainability and knowledge orientation) are particularly relevant drivers in the transition to the CE through EI. Thus, if the aim of policy makers and corporate decision makers is to increase the circularity of the economy or their firms, policies and measures should be targeted at these two factors.
{"title":"How does corporate environmental culture enable the eco‐innovation transition of firms towards the circular economy?","authors":"Christoph P. Kiefer, Javier Carrillo‐Hermosilla, Pablo del Río","doi":"10.1002/csr.2888","DOIUrl":"https://doi.org/10.1002/csr.2888","url":null,"abstract":"There is a widespread agreement that the current linear economic system is unsustainable due to the physical boundaries of our planet and must be replaced by a circular one, that is, by a circular economy (CE). Previous studies have theoretically proposed that eco‐innovations (EIs), or innovations that reduce the environmental impacts of consumption and production processes, are a key element to improve the circular use of resources. However, the analysis of the drivers of such a transition to a CE through EI, particularly at the micro‐level of firms, has not received attention in the past. The aim of this paper is to cover this gap in the literature. It quantitatively analyses the role of influencing factors (drivers and barriers) in that relationship, with a focus on the company's organisational (‘soft’) factors, rooted in organisational culture and strategy. With the help of data collected through a survey of Spanish small and medium‐sized firms in the industrial sector, a regression‐based moderation analysis is carried out. Therefore, four moderation models were defined based on organisational factors derived from the previous literature (sustainability, future, stakeholder and learning/knowledge orientation in firms. The results suggest that, indeed, two of those factors (a high level of sustainability and knowledge orientation) are particularly relevant drivers in the transition to the CE through EI. Thus, if the aim of policy makers and corporate decision makers is to increase the circularity of the economy or their firms, policies and measures should be targeted at these two factors.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":9.8,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141549177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
On page 5 the text reads “A total of 74.17% of companies are headquartered in Europe, 1.39% in the United States of America or Canada, and 1.19% in other regions.” However the numbers regarding the US and other regions should be 13.91% and 11.92% instead of 1.39% and 1.19%.
{"title":"Correction to “Sustainability in the pharmaceutics industry – An assessment of ESG maturity and effects of ESG measure implementation on supply chain security”","authors":"","doi":"10.1002/csr.2904","DOIUrl":"10.1002/csr.2904","url":null,"abstract":"<p>On page 5 the text reads “A total of 74.17% of companies are headquartered in Europe, 1.39% in the United States of America or Canada, and 1.19% in other regions.” However the numbers regarding the US and other regions should be 13.91% and 11.92% instead of 1.39% and 1.19%.</p><p>We apologize for this error.</p>","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/csr.2904","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141549175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
To date, our understanding of how collaborative entrepreneurship influences social innovation performance is limited. In this article, we developed and tested a model that examines the effect of collaborative entrepreneurship on social innovation performance and introduced two boundary conditions of this relationship. Time‐lag data collected from 261 entrepreneurial firms in Vietnam yielded the following results. First, collaborative entrepreneurship positively influences social innovation. Second, institutional support boosts the effect of collaborative entrepreneurship on social innovation performance. Finally, the effect of collaborative entrepreneurship on social innovation performance is contingent on social legitimacy such that at high levels of social legitimacy, the effect of collaborative entrepreneurship on social innovation performance is amplified. These findings contribute to the collaborative entrepreneurship and social innovation literature and offer implications for practice.
{"title":"Collaborative entrepreneurship and social innovation performance: Effects of institutional support and social legitimacy","authors":"Samuel Adomako, Nguyen Phong Nguyen","doi":"10.1002/csr.2900","DOIUrl":"https://doi.org/10.1002/csr.2900","url":null,"abstract":"To date, our understanding of how collaborative entrepreneurship influences social innovation performance is limited. In this article, we developed and tested a model that examines the effect of collaborative entrepreneurship on social innovation performance and introduced two boundary conditions of this relationship. Time‐lag data collected from 261 entrepreneurial firms in Vietnam yielded the following results. First, collaborative entrepreneurship positively influences social innovation. Second, institutional support boosts the effect of collaborative entrepreneurship on social innovation performance. Finally, the effect of collaborative entrepreneurship on social innovation performance is contingent on social legitimacy such that at high levels of social legitimacy, the effect of collaborative entrepreneurship on social innovation performance is amplified. These findings contribute to the collaborative entrepreneurship and social innovation literature and offer implications for practice.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":9.8,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141503619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
With the advent of various technological advancements, companies can now recycle unique waste materials that would otherwise be dumped into landfills (e.g., coffee grounds) and highlight their engagement in sustainable business practices. Using four scenario‐based experimental studies alongside analyses of variance (ANOVA) and regression methodologies, we investigated the role of perceived recycling innovativeness in consumers' responses to recycled product advertisements. Our results revealed that consumers are less likely to purchase recycled products made from unique waste materials that are considered more innovative compared to products made from typical waste materials. Furthermore, our findings showed that inferences of low quality mediate the negative effect of innovative recycling on purchase intention. This effect was attenuated by consumers' purchase goals and the availability of recycling process information. This work's theoretical contribution is its expansion of knowledge on how consumers infer recycled products' performance based on information about the source materials. Practically, this work offers recommendations on ways to prevent the negative influence of disclosing source materials used in a recycled product.
{"title":"Too innovative to be recycled: The role of perceived innovativeness in recycled product advertisements","authors":"Taehoon Park, Junghyun Kim","doi":"10.1002/csr.2897","DOIUrl":"https://doi.org/10.1002/csr.2897","url":null,"abstract":"With the advent of various technological advancements, companies can now recycle unique waste materials that would otherwise be dumped into landfills (e.g., coffee grounds) and highlight their engagement in sustainable business practices. Using four scenario‐based experimental studies alongside analyses of variance (ANOVA) and regression methodologies, we investigated the role of perceived recycling innovativeness in consumers' responses to recycled product advertisements. Our results revealed that consumers are less likely to purchase recycled products made from unique waste materials that are considered more innovative compared to products made from typical waste materials. Furthermore, our findings showed that inferences of low quality mediate the negative effect of innovative recycling on purchase intention. This effect was attenuated by consumers' purchase goals and the availability of recycling process information. This work's theoretical contribution is its expansion of knowledge on how consumers infer recycled products' performance based on information about the source materials. Practically, this work offers recommendations on ways to prevent the negative influence of disclosing source materials used in a recycled product.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":9.8,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141503620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Marcel Dohrmann, Monica Martinez-Blasco, Andreas Moring, Jordi Cuadros Margarit
This research presents novel insights into the relationship between environmental performance and firm performance, focusing on the moderating role of board governance. Unlike the single‐dimensional examination in previous studies, we examine five board variables collectively in our moderator analysis. Employing ordinary least squares regression and a series of robustness tests, we investigate 582 European listed firms across various industries from 2016 to 2021. Our findings reveal a positive influence of environmental performance on firm performance, measured by Tobin's Q and ROA. Furthermore, we find that board independence, gender diversity and audit committee independence moderate this relationship. To address potential endogeneity issues, we employ GMM modelling. This study significantly contributes to the environmental performance and firm performance literature by offering evidence on the moderating role of board mechanisms. Moreover, it offers valuable insights for policymakers and practitioners, highlighting the need to monitor corporate boards for improved environmental and financial outcomes.
{"title":"Environmental performance and firm performance in Europe: The moderating role of board governance","authors":"Marcel Dohrmann, Monica Martinez-Blasco, Andreas Moring, Jordi Cuadros Margarit","doi":"10.1002/csr.2898","DOIUrl":"https://doi.org/10.1002/csr.2898","url":null,"abstract":"This research presents novel insights into the relationship between environmental performance and firm performance, focusing on the moderating role of board governance. Unlike the single‐dimensional examination in previous studies, we examine five board variables collectively in our moderator analysis. Employing ordinary least squares regression and a series of robustness tests, we investigate 582 European listed firms across various industries from 2016 to 2021. Our findings reveal a positive influence of environmental performance on firm performance, measured by Tobin's Q and ROA. Furthermore, we find that board independence, gender diversity and audit committee independence moderate this relationship. To address potential endogeneity issues, we employ GMM modelling. This study significantly contributes to the environmental performance and firm performance literature by offering evidence on the moderating role of board mechanisms. Moreover, it offers valuable insights for policymakers and practitioners, highlighting the need to monitor corporate boards for improved environmental and financial outcomes.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":8.3,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141699225","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Siti Nur Aini, Iman Harymawan, Mohammad Nasih, Khairul Anuar Kamarudin
This study examines the relationship between chief executive officers' (CEOs) overseas experience and social responsibility (SR) disclosure, as well as how CEOs from reputable universities can moderate this relationship. Using 488 firm‐year observations from firms listed on the Bursa Efek Indonesia (Indonesian Stock Exchange) and data from the Global Reporting Initiative databases from 2010 to 2021, this study finds a significant negative association between foreign‐educated CEOs (CEO overseas experience) and SR disclosure. This study also finds that CEOs from reputable universities can weaken this relationship. The results are robust to endogeneity tests using the coarsened exact match (CEM) and Heckman's two‐stage regressions. Furthermore, overseas experience CEOs have a significantly negative impact on all dimensions of SR disclosure, except for the environmental and product dimensions. Investors may consider CEOs' foreign education as an additional factor in their investment decisions. This study suggests that firms with CEOs with international exposure tend to exhibit lower levels of SR disclosures. This insight can aid investors in evaluating sustainability and ethical performance by aligning their investment portfolios with CSR objectives and preferences.
{"title":"CEO overseas experience and sustainability report disclosure: Evidence from Indonesia","authors":"Siti Nur Aini, Iman Harymawan, Mohammad Nasih, Khairul Anuar Kamarudin","doi":"10.1002/csr.2883","DOIUrl":"https://doi.org/10.1002/csr.2883","url":null,"abstract":"This study examines the relationship between chief executive officers' (CEOs) overseas experience and social responsibility (SR) disclosure, as well as how CEOs from reputable universities can moderate this relationship. Using 488 firm‐year observations from firms listed on the Bursa Efek Indonesia (Indonesian Stock Exchange) and data from the Global Reporting Initiative databases from 2010 to 2021, this study finds a significant negative association between foreign‐educated CEOs (CEO overseas experience) and SR disclosure. This study also finds that CEOs from reputable universities can weaken this relationship. The results are robust to endogeneity tests using the coarsened exact match (CEM) and Heckman's two‐stage regressions. Furthermore, overseas experience CEOs have a significantly negative impact on all dimensions of SR disclosure, except for the environmental and product dimensions. Investors may consider CEOs' foreign education as an additional factor in their investment decisions. This study suggests that firms with CEOs with international exposure tend to exhibit lower levels of SR disclosures. This insight can aid investors in evaluating sustainability and ethical performance by aligning their investment portfolios with CSR objectives and preferences.","PeriodicalId":48334,"journal":{"name":"Corporate Social Responsibility and Environmental Management","volume":null,"pages":null},"PeriodicalIF":9.8,"publicationDate":"2024-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141503621","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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