Can corporate social responsibility protect firm value during corporate environmental violation events?

Ouyang, Zhe; Lv, Ruixue; Liu, Yang

doi:10.1002/csr.2465

Cited by 15 publications

(9 citation statements)

References 75 publications

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“…First, the A‐share listed manufacturing enterprises were screened according to The Guidelines on industry classification of listed companies issued by the China Securities Regulatory Commission in 2012 (Ouyang et al, 2023). In this paper, manufacturing enterprises are selected as samples since the production and operation are more appropriate to the three paths of CSV strategy and more closely connected with stakeholders.…”

Section: Methodsmentioning

confidence: 99%

The impact of creating shared value strategy on corporate sustainable development: From resources perspective

Zhu

Wang

2023

Corp Soc Responsibility Env

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Porter and Kramer abandoned the traditional view of trade‐offs and proposed the concept of “creating shared value”, which integrates social and environmental needs into a company's core business to improve both society and the environment while enhancing its competitiveness. Whether creating shared value strategy can achieve corporate sustainable development should be urgently investigated. With the resource‐dependence theory and resource‐based theory, the positive impacts of creating shared value strategy on corporate social, environmental, and financial performances are theoretically analyzed and empirically tested from the perspectives of resource provision and acquisition. In further analysis, the mechanism test based on “sharing value” suggests that creating shared value strategy can strengthen its competitiveness by fulfilling social and environmental responsibilities. The consequences test demonstrates that creating shared value strategy promotes the provision of technological resources and information resources, which is conducive to the acquisition of market resources, human resources, and capital resources.

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Section: Methodsmentioning

confidence: 99%

The impact of creating shared value strategy on corporate sustainable development: From resources perspective

Zhu

Wang

2023

Corp Soc Responsibility Env

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“…To explore the influence of CEOs' international backgrounds on cor- (Bellamy et al, 2020;Liu, Zhang, & Zhang, 2023;Ouyang et al, 2023;Quan et al, 2023). From these databases, we obtained a list of CEOs' information.…”

Section: Data and Samplementioning

confidence: 99%

CEO foreign experience and corporate environmental, social, and governance (ESG) performance

Liu,

Zhang,

Zhang

2023

Bus Strat Env

Self Cite

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This research examines the impact of the Chinese CEOs with foreign experience from developed nations on the firm's environmental, social, and governance (ESG) performance, drawing on imprinting theory, stakeholder theory, and resource dependence theory. Using manually collected data of CEOs' foreign experience and corporate ESG data from the Bloomberg database for Chinese listed firms from 2011 to 2020, we observe that CEOs with foreign imprinting tend to improve their corporate ESG performance in China. The positive relationship between CEO foreign experience and corporate ESG performance is more significant when the CEO is female, when the CEO is more educated, and when the firm is state‐owned. To better understand the underlying influence, our study indicates that the influence of CEOs' foreign experiences on corporate ESG performance is primarily manifested in the advancement of corporate social and environmental responsibility. Section 4.3 reveals that experiences obtained from developed economies have a more pronounced impact on promoting firms' ESG performance compared to experiences gained in underdeveloped countries. This empirical evidence underscores the significance of foreign experiences gained in developed economies in driving firms' ESG performance. Overall, our research makes a contribution to the study of CEOs' foreign exposure and corporate ESG performance.

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“…Cordano et al (2010) found that CEOs of Small and Medium Enterprises (SMEs) often make decisions to expand in order to seek greater economic benefits rather than achieve superior environmental performance. Leverage is determined by dividing the year-end total liabilities by total assets (Al-Ahdal et al, 2023;Ouyang et al, 2023). We We thus used slack resources as a control variable, measured as the total cash flow from the company's operations, financing, and investing activities divided by total assets.…”

Section: Control Variablesmentioning

confidence: 99%

The power of CEO growing up in poverty: Enabling better corporate environmental, social, and governance (ESG) performance

Liu,

Zhang,

Zhang

2023

Corp Soc Responsibility Env

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Recently, environmental, social, and governance (ESG) has been the subject of extensive research and publication. Researchers have pointed out that corporate ESG performance is not only determined by the demographic and personality characteristics of current executives, but also by early‐life experiences. Recent research has illuminated the influence that early‐life experiences of executives have on corporate social performance. However, there is still a lack of research on how executive poverty experiences affects corporate ESG performance. To fill this void, our study investigates the potential influence of CEOs' childhood poverty experiences on corporate ESG performance, employing the upper echelon theory and imprinting theory. Specifically, we gathered data for publicly traded Chinese companies from 2011 to 2020, and discovered that companies helmed by CEOs who grew up in underprivileged neighborhoods demonstrated superior ESG performance. We also scrutinized the moderating mechanisms that impacted the strength and attenuation of poverty imprinting. Our findings reveal that CEO expected tenure and green investors augment the favorable impact of poverty imprinting on corporate ESG performance, while CEOs who receive higher compensation exhibit a weaker imprint. Our study contributes significantly to the imprinting field and the literature on corporate ESG performance, while also providing valuable insights into strategies that facilitate pro‐social conduct among firms.

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Can corporate social responsibility protect firm value during corporate environmental violation events?

Cited by 15 publications

References 75 publications

The impact of creating shared value strategy on corporate sustainable development: From resources perspective

The impact of creating shared value strategy on corporate sustainable development: From resources perspective

CEO foreign experience and corporate environmental, social, and governance (ESG) performance

The power of CEO growing up in poverty: Enabling better corporate environmental, social, and governance (ESG) performance

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