Research Repository

Are CEOs judged on their companies' social reputation?

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. ISSN 0929-1199

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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
Additional Information: CEO Outside directorship
Uncontrolled Keywords: Social reputation, Stakeholders, Corporate social responsibility (CSR), Director labor market
Divisions: Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Finance Centre
Depositing User: Elements
Date Deposited: 15 Jul 2020 12:53
Last Modified: 15 Jul 2020 13:15
URI: http://repository.essex.ac.uk/id/eprint/28236

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