Conformity or differentiation? The role of CEO turnover

被引：0

作者：

Wang, Yaopeng ^{[1
]}

Xu, Morong ^{[2
]}

Al-Shammari, Marwan ^{[3
]}

Banerjee, Soumendra Nath ^{[4
]}

机构：

[1] Univ Shanghai Sci & Technol USST, Business Sch, Dept Finance, Shanghai, Peoples R China

[2] Univ Sains Malaysia, Sch Management, Gelugor, Malaysia

[3] Univ Texas Tyler, Soules Coll Business, Dept Management & Mkt, Tyler, TX USA

[4] Georgia Southwestern State Univ, Banerjee Coll Business & Comp, Americus, GA USA

来源：

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS | 2024年 / 96卷

关键词：

CEO turnover; Corporate social responsibility; CEO compensation structure; CEO career horizon; CORPORATE SOCIAL-RESPONSIBILITY; FIRM PERFORMANCE; OPTIMAL DISTINCTIVENESS; FINANCIAL PERFORMANCE; BOARD COMPOSITION; CAREER HORIZON; COMPENSATION; INCENTIVES; MANAGEMENT; STRATEGY;

D O I：

10.1016/j.irfa.2024.103636

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study investigates the nexus between CEO turnover and corporate social responsibility (CSR) practices using all US-listed companies as the sample. Considering each company's different fields in the CSR practice, we use conformity and differentiation to quantify the CSR practice. Our generalized difference-in-difference method shows that incoming CEOs can positively impact differentiation and negatively affect conformity. Our empirical evidence further indicates that CEO career horizon and compensation structure are the two potential mechanisms through which CEO turnover affects the CSR practice. Our results provide insightful implications for companies that wish to gain a competitive advantage via the CSR practice.

引用

页数：20

共 180 条

[41] CEO Age, Risk Incentives, and Hedging Strategy
Croci, Ettore
del Giudice, Alfonso
Jankensgard, Hakan
[J]. FINANCIAL MANAGEMENT, 2017, 46 (03) : 687 - 716
[42] Do risk-taking incentives induce CEOs to invest? Evidence from acquisitions
Croci, Ettore
Petmezas, Dimitris
[J]. JOURNAL OF CORPORATE FINANCE, 2015, 32 : 1 - 23
[43] CSR-based Differentiation Strategy of Export Firms From Developing Countries: An Exploratory Study of the Strategy Tripod
Cruz, Luciano Barin
Boehe, Dirk Michael
Ogasavara, Mario Henrique
[J]. BUSINESS & SOCIETY, 2015, 54 (06) : 723 - 762
[44] Corporate social responsibility and firm value: Do firm size and age matter? Empirical evidence from European listed companies
D'Amato, Antonio
Falivena, Camilla
[J]. CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, 2020, 27 (02) : 909 - 924
[45] Product Market Competition Shocks, Firm Performance, and Forced CEO Turnover
Dasgupta, Sudipto
Li, Xi
Wang, Albert Y.
[J]. REVIEW OF FINANCIAL STUDIES, 2018, 31 (11) : 4187 - 4231
[46] The effects of CEO pay structure on corporate social performance
Deckop, John R.
Merriman, Kimberly K.
Gupta, Shruti
[J]. JOURNAL OF MANAGEMENT, 2006, 32 (03) : 329 - 342
[47] Deegan C., 2006, FINANCIAL ACCOUNTING
[48] Deephouse DL, 1999, STRATEGIC MANAGE J, V20, P147, DOI 10.1002/(SICI)1097-0266(199902)20:2<147::AID-SMJ11>3.0.CO
[49] 2-Q
[50] Corporate social responsibility and stakeholder value maximization: Evidence from mergers
Deng, Xin
Kang, Jun-koo
Low, Buen Sin
[J]. JOURNAL OF FINANCIAL ECONOMICS, 2013, 110 (01) : 87 - 109

← 1 2 3 4 5 6 7 8 9 10 →