The CEO as chief political officer: Managerial discretion and corporate political activity

被引：57
|
作者：
Hadani, Michael [1 ]
Dahan, Nicolas M. [2 ]
Doh, Jonathan P. [3 ]
机构：
[1] St Marys Coll Calif, Sch Business & Econ, Moraga, CA 94556 USA
[2] Temple Univ, Fox Sch Business, Philadelphia, PA 19122 USA
[3] Villanova Univ, Villanova Sch Business, Villanova, PA 19085 USA
来源：
JOURNAL OF BUSINESS RESEARCH | 2015年 / 68卷 / 11期
关键词：
Corporate political activity; CEO discretion; Firm performance; Agency theory; Stewardship; Corporate governance; FIRM PERFORMANCE; MODERATING ROLE; AGENCY THEORY; STRATEGY; TENURE; DIRECTORS; BOARDS; POWER; GOVERNANCE; SENIORITY;
D O I：
10.1016/j.jbusres.2015.03.046
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Corporate political activity (CPA) is an important nonmarket strategy aimed at advancing a firm's interests by influencing public policy. Yet studies report mixed results as to the impact of CPA on firm outcomes. Building on recent extant research we suggest that one reason for the ambivalent evidence regarding the impact of CPA on firm performance is the moderating role of CEO discretion on the CPA-firm performance relationship. In a longitudinal study of S&P 1000 firms over 10 years, we test competing perspectives regarding the moderating impact of CEO discretion on the CPA-corporate performance relationship. We find that some aspects of CEO discretion, in particular CEO duality, moderate the relationship between CPA and performance. The findings provide some support for an agency view of the impact of CEO discretion the CPA-performance relationships, which carry implications for both scholarship and regulation in the areas of CPA and corporate governance. (C) 2015 Elsevier Inc. All rights reserved.
引用
收藏
页码：2330 / 2337
页数：8
相关论文
共 50 条
  • [21] A managerial capital perspective on chief marketing officer succession
    Wang, Rui
    Saboo, Alok R.
    Grewal, Rajdeep
    INTERNATIONAL JOURNAL OF RESEARCH IN MARKETING, 2015, 32 (02) : 164 - 178
  • [22] A Chief Operating Officer's Perspective on Managerial Coaching
    Carvalho, Charles
    Carvalho, Sheldon
    Carvalho, Fallan Kirby
    ADVANCES IN DEVELOPING HUMAN RESOURCES, 2022, 24 (04) : 286 - 295
  • [23] CEO Ownership, Stock Market Performance, and Managerial Discretion
    Von Lilienfeld-Toal, Ulf
    Ruenzi, Stefan
    JOURNAL OF FINANCE, 2014, 69 (03): : 1013 - 1050
  • [24] Narcissistic CEOs and their corporate political activity
    Greiner, Michael
    Kim, Jaemin
    Thor, Jennifer Cordon
    JOURNAL OF BUSINESS RESEARCH, 2023, 163
  • [25] Corporate political activity: An integrated model
    Kumar, Vivek
    Thakur, Munish
    Pani, Saroj Kumar
    Asian Social Science, 2015, 11 (16) : 128 - 136
  • [26] Peering in from corporate political activity
    Schuler, Douglas A.
    JOURNAL OF MANAGEMENT INQUIRY, 2008, 17 (03) : 162 - 167
  • [27] The Governance Challenges of Corporate Political Activity
    Dahan, Nicolas M.
    Hadani, Michael
    Schuler, Douglas A.
    BUSINESS & SOCIETY, 2013, 52 (03) : 365 - 387
  • [28] The determinants of corporate political activity in Australia
    Bell, Stephen
    Hindmoor, Andrew
    Umashev, Nicholas
    AUSTRALIAN JOURNAL OF POLITICAL SCIENCE, 2023, 58 (04) : 363 - 382
  • [29] The role of the chief legal officer in corporate governance
    Bird, Robert C.
    Borochin, Paul A.
    Knopf, John D.
    JOURNAL OF CORPORATE FINANCE, 2015, 34 : 1 - 22
  • [30] Corporate governance and chief executive officer compensation
    Petra, Steven T.
    Dorata, Nina T.
    CORPORATE GOVERNANCE-THE INTERNATIONAL JOURNAL OF BUSINESS IN SOCIETY, 2008, 8 (02): : 141 - +
12345