The Relation Between Corporate Governance and Corporate Social Responsibility

Choi, Heonseob

doi:10.29214/damis.2009.28.4.003

Cited by 1 publication

(1 citation statement)

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“…Meanwhile, institutional investors are less likely to react promptly to changes in the market because they hold large amounts of stock and cannot dispose of their stocks without seriously affecting a firm's stock price (Pound, 1992). Thus, acting as strict shareholders, institutional investors are interested in improving a firm's long-term profit generation and value creation while overseeing the opportunistic behavior of the CEO and reducing agency costs between shareholders and managers (Barnea & Rubin, 2010;Heonseob, 2009). Dam and Scholtens (2012) argued that many institutional investors pay less attention to long-term corporate value as the period of ownership of the stake is shortened.…”

Section: Institutional Investor Ownershipmentioning

confidence: 99%

The effects of CEO narcissism on corporate social responsibility and irresponsibility

Hong¹,

Lee

Roh

2021

Manage Decis Econ

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This study examines how chief executive officer (CEO) narcissism influences a firm's activities associated with corporate social responsibility or irresponsibility (CSR or CSIR, respectively). Employing upper echelons theory, the approach–avoidance motivation of narcissists, and the overinvestment hypothesis, we predict that CEO narcissism positively affects both CSR and CSIR. We also propose that these relationships are negatively moderated by corporate governance structure, captured by the ratio of outside directors and the ownership of institutional investors. Empirical results from a panel dataset of U.S. firms for the 2000–2012 period provide support for our hypotheses. Our finding establishes a better theoretical and practical understanding of how a CEO's psychological personality can change a firm's behavior with respect to its social responsibility.

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Section: Institutional Investor Ownershipmentioning

confidence: 99%