An empirical analysis of the complementarities and substitutions between effects of ceo ability and corporate governance on socially responsible performance

JOURNAL OF CLEANER PRODUCTION

卷:215

Article

Garcia-Sanchez, Isabel-Maria¹  Hussain, Nazim²  Martinez-Ferrero, Jennifer² 

[1] Univ Salamanca, Multidisciplinary Inst Enterprise, IME, Salamanca, Spain

[2] Univ Groningen, Groningen, Netherlands

关键词: Corporate social responsibility;    Managerial ability;    Corporate governance;    Board independence;    Incentives;   

DOI  :  10.1016/j.jclepro.2019.01.130

来源: Elsevier

【 摘 要 】

Existing empirical and theoretical literature provides excellent insight into many aspects of CEO-related phenomena. However, so far, no study has explored the interrelation between corporate governance and CEO ability in influencing corporate social responsibility practices. From resource-based view perspectives, this research examines the complementarities/substitutions that may exist between social responsibility oriented corporate governance mechanisms and CEO ability in affecting corporate social responsibility performance among United States firms. This research documents that CEO ability is a unique resource that can help firms reduce agency problem associated with social and environmental performance. The analysis of data for the period of 2006-2015 reveals several fact-based findings. This research finds strong complementarities between CEO ability and internal social responsibility oriented governance mechanisms (i.e., board independence, the presence of a sustainability committee, and social performance-related incentives for managers) in enhancing socially responsible performance within a firm. Conventionally, it is considered that CEOs are less likely to engage in socially responsible activities, while findings of this paper shed light on the brighter side of CEO ability. (C) 2019 Elsevier Ltd. All rights reserved.

【 授权许可】

Free