Cai, Xiangshang and Gao, Ning and Garrett, Ian and Xu, Yan (2020) Are CEOs judged on their companies' social reputation? Journal of Corporate Finance, 64. p. 101621. DOI https://doi.org/10.1016/j.jcorpfin.2020.101621
Cai, Xiangshang and Gao, Ning and Garrett, Ian and Xu, Yan (2020) Are CEOs judged on their companies' social reputation? Journal of Corporate Finance, 64. p. 101621. DOI https://doi.org/10.1016/j.jcorpfin.2020.101621
Cai, Xiangshang and Gao, Ning and Garrett, Ian and Xu, Yan (2020) Are CEOs judged on their companies' social reputation? Journal of Corporate Finance, 64. p. 101621. DOI https://doi.org/10.1016/j.jcorpfin.2020.101621
Abstract
How consequential is social reputation for a CEO's career? We find that the CEOs of those firms with greater strengths (controversies) on corporate social responsibilities (CSR) are more (less) likely to serve on external boards, and they hold more (fewer) outside directorships. CEOs lose board seats after the media expose their companies in negative environmental and social news. More nuanced analyses show that workplace diversity and supply-chain human rights are most consequential among the social and environmental dimensions of CSR. Our study demonstrates that CEOs are judged on their companies' social reputation in the director labor market. Our results also suggest that social reputation plays an important role in
Item Type: | Article |
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Additional Information: | CEO Outside directorship |
Uncontrolled Keywords: | Social reputation; Stakeholders; Corporate social responsibility (CSR); Director labor market |
Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Essex Business School |
SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
Depositing User: | Unnamed user with email elements@essex.ac.uk |
Date Deposited: | 15 Jul 2020 12:53 |
Last Modified: | 16 May 2024 20:29 |
URI: | http://repository.essex.ac.uk/id/eprint/28236 |
Available files
Filename: Are CEOs Judged on Their Companies Social Reputation.pdf
Licence: Creative Commons: Attribution-Noncommercial-No Derivative Works 3.0