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

被引：14
|
作者：
Pucheta-Martinez, Maria Consuelo [1 ]
Gallego-Alvarez, Isabel [2 ]
机构：
[1] Univ Jaume 1, Dept Finance & Accounting, Campus Riu Sec S-N, Castellon De La Plana 12071, Spain
[2] Univ Salamanca, Dept Business Adm, Multidisciplinary Inst Enterprise IME, Edificio FES, Salamanca 37007, Spain
来源：
SUSTAINABILITY | 2021年 / 13卷 / 06期
关键词：
CEO power; corporate social responsibility reporting; CEO compensation link to shareholder return; agency theory; stakeholder theory; CORPORATE SOCIAL-RESPONSIBILITY; OWNERSHIP STRUCTURE; FIRM PERFORMANCE; DISCLOSURE; PAY; DETERMINANTS; DIMENSIONS; GOVERNANCE; DIRECTORS;
D O I：
10.3390/su13063197
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
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.
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收藏
页数：19
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