A good manager or a bad agent? Military CEOs and tunneling

He, Jie; He, Luling; Chan, Kam C.

doi:10.1016/j.ribaf.2023.102043

Cited by 2 publications

(2 citation statements)

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“…This indicates that military experience has a positive impact on the ESG performance of companies, providing empirical support for hypothesis H1 in this study. 2023), the ESG score was replaced with the Huazhong ESG score from the CSMAR database as the dependent variable (ESGscore) [26]. After removing some missing and outlier values and controlling for industry and time fixed effects, Table 4 Eq.…”

Section: Regression Of Executive Military Experience On Company Esg P...mentioning

confidence: 99%

“…Considering the endogeneity issues that may exist in the research subject, following the approach of He (2023), we employ the number of news reports (News) as an instrumental variable for corporate disclosure and conduct a two-stage Heckman test on corporate ESG performance [26]. In the specific operational process, we first take corporate financial indicators and executive background characteristics as the dependent variables, conduct regression using a probit model, and obtain the inverse Mills ratio (IMR).…”

Section: Heckman Two Stage-proceduresmentioning

confidence: 99%

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Performance of executive military experience in company ESG

Zhou,

Jiang,

2024

HBEM

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The personal experiences of managers have become an important issue in corporate governance and development in the field of management. Evaluating a company's performance from the aspects of environmental, social, and governance (ESG) has been a popular research topic in recent years. This article empirically examines the impact of managers' military backgrounds on a company's ESG performance based on samples of listed companies from 2006 to 2022. The study found that: (1) Managers with military backgrounds have a positive impact on a company's ESG performance; (2) In companies with high power concentration, the promoting effect of military executives on the company is more significant; (3) In companies with poor operating conditions, the promoting effect of military executives on the company is more pronounced. This study enriches the related research on the relationship between managers' military backgrounds and a company's ESG performance. Expanding the heterogeneity analysis focusing on power concentration and operating conditions, and provides reference for future research in this area.

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Section: Regression Of Executive Military Experience On Company Esg P...mentioning

confidence: 99%

Section: Heckman Two Stage-proceduresmentioning

confidence: 99%