Determinants of CSR practices: analysis of the influence of ownership and the management profile mediating effect

Godos‐Díez, José‐Luis; Gago, Roberto Fernández; García, Laura Cabeza; Campillo, Almudena Martínez

doi:10.1080/02102412.2014.890824

Cited by 30 publications

(22 citation statements)

References 81 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Precisely, we find evidence that (a) options are more effective than stocks, (b) recently awarded and unvested options are more effective than previously awarded and vested options, and (c) restricted stocks are more effective than unrestricted stocks to enhance firm's CSR engagements. These results are consistent with prior researches (Godos‐Díez, Fernández‐Gago, Cabeza‐García, & Martínez‐Campillo, ; Karim, Lee, & Suh, ; Thorne et al, , among others) and are consistent with the theoretical expectation that long‐term inventive rewards are more effective at focusing executives' decision making toward socially responsible outcomes than short‐term ones. They corroborate moreover researches on CSR and CEO pay‐for‐performance structure supporting that LTIC policies based on stock and stock‐options rewards encourage executives to consider longer term initiatives and generally result in executives being compensated better when the firm's market value rises over the long term.…”

Section: Data Analyses and Empirical Resultssupporting

confidence: 92%

“…LTIC provides an executive with the incentive, ex ante, to make decisions that will result in an increase in future stock price, as the executive's wealth will increase if the stock price increases. It follows that executives who receive LTIC are more likely to take socially responsible actions consistent with maximizing the interests of the firm in the longer term and supporting shareholder theory point of view (Godos‐Díez et al, ).…”

Section: Data Analyses and Empirical Resultssupporting

confidence: 55%

See 1 more Smart Citation

How does CEO pay slice influence corporate social responsibility? U.S.–Canadian versus Spanish–French listed firms

Jouber

2019

Corp Soc Responsibility Env

View full text Add to dashboard Cite

Considering specific contextual differences (in laws, governance attributes, and CEO pay policies) found between the Anglo-American and the European corporate governance models and controlling for institutional attributes, ownership structures, and firm's features characterizing the two settings, we aim to explore if there is a link between CEO pay slice (CPS) and corporate social responsibility (CSR). We follow Bebchuk et al. (2011) to measure CPS. We consider sustainability indicators as proxy to capture CSR. Sustainability indicators are gathered from Global Reporting Initiative of sustainability standards (GRI's) report. Data cover the period 2010-2017 and consist of 1,440 U.S.-Canadian and Spanish-French firm-year observations. American and Canadian (Spanish and French) firms are considered as to refer to the Anglo-American (European) corporate governance model. Durbin-Wu-Hausman test is ruled to address endogeneity problem of dual variables and supports consistent null hypotheses of fixed effects model. Underthe agency theory's "bright side" paradigm, univariate and multivariate cross-country analysis supports that CPS is positively associated with firm's initiatives to engage in CSR and that sustainability is more pronounced under stronger investor protection, strict law enforcement, and higher corporate governance quality. Robustness checks reveal that (a) the deferred CPS-CSR causal effect seems higher for option-based compensation than that for stock-based compensation and (b) within the options (stocks) rewards, unvested options (restricted stocks) are the most effective to enhance firm's CSR practices.

show abstract

Section: Data Analyses and Empirical Resultssupporting

confidence: 92%

Section: Data Analyses and Empirical Resultssupporting

confidence: 55%

How does CEO pay slice influence corporate social responsibility? U.S.–Canadian versus Spanish–French listed firms

Jouber

2019

Corp Soc Responsibility Env

View full text Add to dashboard Cite

show abstract

“…The final proposed model explains or contributes to predict 29.1% of the competitive performance variance. Likewise, in agreement with Godos-Díez et al (2014), two additional and complementary tests were applied to confirm the mediating effect in this full and final model. First, the Sobel Z test (1982) was performed to corroborate that this indirect effect was statistically significant ( Z = 5.526; p < 0.001).…”

Section: Pls Analysis and Resultsmentioning

confidence: 72%

Relationship between corporate social responsibility and competitive performance in Spanish SMEs: Empirical evidence from a stakeholders’ perspective

Madueño

Jorge

Conesa

et al. 2016

BRQ Business Research Quarterly

174

View full text Add to dashboard Cite

In a financial economic scenario in which the corporate survival of small and medium enterprises (SMEs) is more conditioned than ever by competitive performance, this paper aims to show that the strategic incorporation of socially responsible actions, more concerned and engaged with stakeholders, contributes to improve the competitiveness of these organizations. Thus, the existence of a direct or mediated relationship between the development of Corporate Social Responsibility (CSR) practices and competitive performance has been analyzed from a multi-stakeholder perspective. To accomplish this task, data were collected from a sample of 481 Spanish SMEs and the technique of partial least squares (PLS) was used. Outcomes show that the development of CSR practices contributes to increase the competitive performance both directly and indirectly, through the ability of these organizations to manage their stakeholders. This study, therefore, supports the social impact hypothesis and offers evidence about some intangibles such as the relational capacity mediate the causal effect between CSR and competitive performance.

show abstract

“…This is particularly the case of significant shareholders. As a consequence of their long-term interest in the firm, they are more likely to invest in CSR (Godos-Díez et al, 2014). In addition, these shareholders are concerned about maintaining their reputation, which is closely linked to that of their corporations and may be preserved through CSR (Anderson et al, 2003).…”

Section: Discussionmentioning

confidence: 99%

Board of director's effectiveness and the stakeholder perspective of corporate governance: Do effective boards promote the interests of shareholders and stakeholders?

Garcia-Torea

Souto

González

2016

BRQ Business Research Quarterly

View full text Add to dashboard Cite

This paper analyzes whether effective boards of directors in addressing shareholder interests also prove to be effective in guaranteeing the interests of the rest of the firm's stakeholders. We measure board effectiveness based on the shareholder perspective, and test whether it is valid for the stakeholder perspective. The novelty of this paper precisely lies in its approach, given that it considers both perspectives of corporate governance at a time. Using the transparency of sustainability reports as a proxy for the stakeholder perspective in an international sample of 2366 companies, the paper shows that effective boards are more likely to address the interests of both the shareholders and the rest of the firm's stakeholders. Furthermore, we propose a measure of board effectiveness by gathering several board characteristics. Our results contribute to research on corporate governance and corporate social responsibility reporting, and it has implications for policy makers.

show abstract

Determinants of CSR practices: analysis of the influence of ownership and the management profile mediating effect

Cited by 30 publications

References 81 publications

How does CEO pay slice influence corporate social responsibility? U.S.–Canadian versus Spanish–French listed firms

How does CEO pay slice influence corporate social responsibility? U.S.–Canadian versus Spanish–French listed firms

Relationship between corporate social responsibility and competitive performance in Spanish SMEs: Empirical evidence from a stakeholders’ perspective

Board of director's effectiveness and the stakeholder perspective of corporate governance: Do effective boards promote the interests of shareholders and stakeholders?

Contact Info

Product

Resources

About