This paper theoretically explores the impact of the incentive preferences of executives (i.e., short-term incentives and long-term incentives) on corporate social responsibility (CSR) decisions (i.e., institutional CSR and technical CSR). Further, the paper presents the mechanism through which executives influence CSR activities by the pressures from financial analysts and institutional investors supervision. Using a large sample of China-listed firms over 2007–2017, we achieve some helpful empirical results. The executives with short-term incentives tend to implement technical CSR strategy, while those with long-term incentives tend to implement institutional CSR strategy. Executives with short-term incentives, compared with those with long-term incentives, show stronger inter-temporal tradeoffs behaviors in the earnings pressure context. Furthermore, dedicated institutional investors can effectively attenuate the hypocritical behaviors of executives, and the effectiveness of governance shows a positive relationship with investors’ horizon. Our findings enrich the understanding on the relationship between the executives and CSR decisions in the earnings pressure context and further helps to perfect the institutional design in China’s listed companies.
PurposeIn order to further understand the research status and prospect, the purpose of this paper is to adopt a novel method in the research field of institutional investor to depict the knowledge structure and the evolution path over the past three decades.Design/methodology/approachBased on the 4,194 records retrieved from Web of Science, Citespace combined with VOSviewer are employed to perform visualized analysis.FindingsThe results reveal that the number of published articles of research on institutional investor has an exponential growth. Although the United States is the most significant contributor with more publications compared with other countries, Malaysia and Nigeria show higher centrality in the research network worldwide. Furthermore, “shareholder activism”, “corporate governance”, “global convergence”, “corporate reporting regulation” and “individual investor” are the largest five knowledge clusters. “Media coverage”, “corporate social responsibility” and “stock price crash risk” are the latest three knowledge clusters. Moreover, “governance worldwide”, “institutional character”, “dynamic information environment”, “investment patterns” and “sustainable development” are the potential extended research fields in the future.Originality/valueThis research helps the scholars and participants to capture the knowledge structure of research on institutional investors and to develop a reference to future opportunities.
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