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CEO power and corporate social responsibility

Author

Listed:
  • Joel Harper
  • Li Sun

Abstract

Purpose - The purpose of this paper is to examine the impact of chief executive officer (CEO) power on corporate social responsibility (CSR) performance. Design/methodology/approach - The authors use regression analysis to investigate the research question. Findings - Using a 23-year panel sample with 1,574 unique US firms and 8,575 firm-year observations, the authors find a significant and negative relation between CEO power and CSR, suggesting that firms with more powerful CEOs engage in less CSR activities. Originality/value - The results reveal that more powerful CEOs become less responsive to the needs of stakeholder groups, confirming the validity of the stakeholder theory of CSR.

Suggested Citation

  • Joel Harper & Li Sun, 2019. "CEO power and corporate social responsibility," American Journal of Business, Emerald Group Publishing Limited, vol. 34(2), pages 93-115, June.
    • Handle: RePEc:eme:ajbpps:ajb-10-2018-0058
    DOI: 10.1108/AJB-10-2018-0058
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    Citations

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    Cited by:

    1. Siew Peng Lee, 2023. "Board monitoring effectiveness and corporate sustainability performance: do legal system and CEO non-duality matter?," Review of Managerial Science, Springer, vol. 17(4), pages 1243-1267, May.
    2. Sumaia Ayesh Qaderi & Turki Raji Alhmoud & Belal Ali Abdulraheem Ghaleb, 2020. "Audit Committee Features and CSR Disclosure: Additional Evidence From an Emerging Market," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(5), pages 226-237, October.
    3. Yongbo Sun & Hong Sun, 2021. "Executives’ Environmental Awareness and Eco-Innovation: An Attention-Based View," Sustainability, MDPI, vol. 13(8), pages 1-21, April.
    4. Luo Jing & Joonho Moon, 2021. "Airline Chief Executive Officer and Corporate Social Responsibility," Sustainability, MDPI, vol. 13(15), pages 1-12, August.
    5. René P. Orij & Saif Rehman & Hashim Khan & Faisal Khan, 2021. "Is CSR the new competitive environment for CEOs? The association between CEO turnover, corporate social responsibility and board gender diversity: Asian evidence," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(2), pages 731-747, March.
    6. Siew − Peng Lee, 2021. "Environmental responsibility, CEO power and financial performance in the energy sector," Review of Managerial Science, Springer, vol. 15(8), pages 2407-2426, November.
    7. María Consuelo Pucheta-Martínez & Isabel Gallego-Álvarez, 2021. "The Role of CEO Power on CSR Reporting: The Moderating Effect of Linking CEO Compensation to Shareholder Return," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
    8. Beatriz Aibar-Guzmán & José-Valeriano Frías-Aceituno, 2021. "Is It Necessary to Centralize Power in the CEO to Ensure Environmental Innovation?," Administrative Sciences, MDPI, vol. 11(1), pages 1-21, March.

    More about this item

    Keywords

    Corporate social responsibility; Stakeholder theory; CEO power; Managerial ability; G30; M14;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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