How CEO hubris affects corporate social (ir)responsibility

Tang, Yipeng; Qian, Cuili; Chen, Guoli; Shen, Rui

doi:10.1002/smj.2286

Cited by 442 publications

(497 citation statements)

References 128 publications

(207 reference statements)

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“…This stream of work notes that the level of CSR efforts by firms is partly determined by the moral orientations of the individuals in influential positions [18][19][20]. More interestingly, some researchers suggested that the desires of the upper-echelon members of firms for more public attention, a better reputation, and higher labor market value are also important drivers behind their firms' pursuit of CSR initiatives [20,21]. While this line of work focuses on the attributes of individual firm decision-makers as an explanation for the CSR performance of firms, others moved their attention up to group-level features of the key decision-making body within firms.…”

Section: Theory and Hypothesesmentioning

confidence: 99%

How Third-Party CSR Evaluation Matters: Keeping Up with Rivals in CSR Performance Ratings of Korean Firms, 2011–2015

Hyun

2017

Sustainability

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Does corporate social responsibility (CSR) evaluation by third-party entities (i.e., external agencies, including civic organizations) affect the CSR performance of firms? This article explores the question of whether and how third-party CSR ratings change the subsequent CSR behavior and hence performance of rated firms. Combining insights from the research on ratings/rankings and a behavioral theory of firms, we hypothesize that firms with large negative CSR rating gaps-i.e., CSR ratings below the industry average-are more prone to improving their subsequent CSR behavior, and hence performance ratings, than those with small negative gaps, because of the desire to avoid being viewed as CSR laggards relative to their industry rivals. As a result, efforts are directed at enhancing CSR performance. Empirical support for this conjecture is found through random effect regression analyses of publicly listed firms in Korea that were rated by the KEJI (Korean Economic Justice Institute) during 2011-2015 with respect to multiple dimensions of CSR. Further results show that the positive effect of negative CSR rating gaps on subsequent CSR ratings appears only in the firms without well-established reputations, suggesting the possibility that firms with weak reputations have stronger incentives to keep up with other industry incumbents in CSR performance ratings than their counterparts.

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Section: Theory and Hypothesesmentioning

confidence: 99%

How Third-Party CSR Evaluation Matters: Keeping Up with Rivals in CSR Performance Ratings of Korean Firms, 2011–2015

Hyun

2017

Sustainability

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“…When practical wisdom fails, why does it so, how, and in what conditions? What is the role of hubris (Takacs Haynes et al, 2015;Tang et al, 2015) as well as of narcissism and power structures (Stein, 2007(Stein, , 2013Kets de Vries, 2004) in contributing to such failure?…”

Section: Senior Managers Atmentioning

confidence: 99%

Strategy and virtue: Developing strategy-as-practice through virtue ethics

Tsoukas

2017

Strategic Organization

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Strategy-as-practice research has usefully built on earlier strategy process research by taking into account the social embeddedness of strategy making. While such an approach has generated valuable insights, it has curiously left unexplored the moral dimension of practice. In this paper, we show how the potential of strategy-as-practice research may be more fully realized if the moral dimension of practice is conceptualized through virtue ethics (especially MacIntyre's version).Specifically, we first reconceptualize, through virtue ethics, the three main concepts of strategyas-practice -practice, praxis, and practitioners -, underscoring the inherently moral constitution of actions undertaken in strategy-related work. Moreover, we suggest that strategic management is viewed as a particular kind of practice (what we call "competitive institutional practice"), charged with "values articulation work" and "balancing work". While the former articulates a good purpose for the organization, the latter seeks to care for both excellence and success through balancing "capabilities development work" with "differentiation work". Illustrations are provided to support this argument and several suggestions for further research are offered.

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“…Tang et al (2015) claim to be the first to link CSR to managerial psychological bias. They find that CEO hubris is negatively associated with socially responsible investment but is positively associated with socially irresponsible investment.…”

Section: Ceo Overconfidence and Csrmentioning

confidence: 99%

CEO Overconfidence in Real Estate Markets: A Curse or A Blessing?

Bao¹,

Li²

2017

24th Annual European Real Estate Society Conference

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This paper studies the influence of CEO overconfidence on firms' financial performance and corporate social responsibility (CSR) in the US real estate investment trust (REIT) market.CEO overconfidence has been shown to have both negative and positive influences on firms. This paper is the first to combine the two sides in a single framework. We find that firms with overconfident CEOs tend to have better CSR performance. In addition, better CSR performance can increase firms' financial performance, but this positive relationship is undermined by the existence of overconfident CEOs. Our results not only shed light on the two sides of CEO overconfidence in the real estate sector, but also provide a new prospective for research on the CSR-financial performance relationship.

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How CEO hubris affects corporate social (ir)responsibility

Cited by 442 publications

References 128 publications

How Third-Party CSR Evaluation Matters: Keeping Up with Rivals in CSR Performance Ratings of Korean Firms, 2011–2015

How Third-Party CSR Evaluation Matters: Keeping Up with Rivals in CSR Performance Ratings of Korean Firms, 2011–2015

Strategy and virtue: Developing strategy-as-practice through virtue ethics

CEO Overconfidence in Real Estate Markets: A Curse or A Blessing?

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