The Role of CEO Power on CSR Reporting: The Moderating Effect of Linking CEO Compensation to Shareholder Return

Sustainability

Isabel Gallego-Álvarez¹  MaríaConsuelo Pucheta-Martínez² 

[1] Department of Business Administration, University of Salamanca, Edificio FES, 37007 Salamanca, Spain;Department of Finance and Accounting, Universidad Jaume I, Campus del Riu Sec, s/n, 12071 Castellón de la Plana, Spain;

关键词: CEO power;    corporate social responsibility reporting;    CEO compensation link to shareholder return;    agency theory;    stakeholder theory;   

DOI  :  10.3390/su13063197

来源: DOAJ

【 摘 要 】

The aim of this research was to provide further evidence of the impact of the power of the Chief Executive Officer (CEO) on corporate social responsibility (CSR) disclosure. Additionally, we explore the moderating role of CEO compensation linked to shareholder return on the association between CEO power and CSR disclosure. The theories used follow agency theory and stakeholder theory and the sample comprised 9182 international firm-year observations collected from the Thomson Reuters database from 2009 to 2018. Our model was estimated using the generalized method of moments (GMM) estimator. The results found that CEO power was positively associated with CSR disclosure, contrary to our expectations. Additionally, our evidence also shows that CEO compensation linked to shareholder return plays a positive moderating role on the relationship between CEO power and CSR reporting.

【 授权许可】

Unknown