Corporate social responsibility or CEO narcissism? CSR motivations and organizational performance

Petrenko, Oleg V.; Aime, Federico; Ridge, Jason W.; Hill, Aaron

doi:10.1002/smj.2348

Cited by 740 publications

(810 citation statements)

References 111 publications

(158 reference statements)

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“…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. For instance, numerous studies found that the demographic composition of board members matters in a firm's involvement and performance in CSR-related matters [22][23][24][25][26].…”

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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“…For example, Petrenko and his associates (2015) demonstrated that chief executive officers (CEOs) more exposed in the media, hence, presumably, more narcissistic and more arrogant, are likely to allocate more resources to the projects designed to raise their firm's CSR profiles. Overall, this line of research further suggests that firms' CSR efforts are, at least in part, driven by such instrumental or strategic motivations of individual TMT members, as they desire for more external attention, better reputational standing and higher labor market value [34][35][36].…”

Section: Theory and Hypothesesmentioning

confidence: 99%

“…One stream of research focuses primarily on individuals belonging to the so-called top management team (TMT), arguing that firm-level differences in CSR endeavors are attributed to differences in certain characteristics of those individuals [34][35][36]. In particular, researchers contended that psychological traits of high-level officers affect companies' involvement in CSR-enhancing practices.…”

Section: Theory and Hypothesesmentioning

confidence: 99%

Women on Boards and Corporate Social Responsibility

et al. 2016

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A growing body of research suggests that having more women in the boardroom leads to better corporate social responsibility (CSR) performance. However, much of this work views the CSR-enhancing effect of women directors as largely driven by their moral orientations and rarely considers other underlying mechanisms. Moreover, less explored are the firm-specific conditions under which such CSR-promoting roles of female directors might be performed more (or less) effectively. In this paper, we seek to bridge this gap in the literature by (1) proposing an additional account for the positive influence of female independent directors on the firm's CSR and (2) illuminating the organizational context in which female directorship is likely to translate into good CSR performance. We argue that women independent directors might take CSR issues more seriously than their male counterparts not only because of their stronger moral orientations, but also because they have reputational reasons to do so. Further, we suggest that female directors' concerns about CSR-relevant matters are more (less) likely to gain support from other members of the organization when their company is doing more (less) business in the product markets where reputation for CSR is more (less) vital for success. Using a sample of Standard & Poor's (S&P) 1500 index firms (2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007)(2008)(2009) and the data on their board composition and CSR ratings, we find strong support for our argument. We find that the number (or proportion) of women independent directors is positively associated with a firm's CSR ratings and that the strength of this relationship depends on the level of the firm's consumer market orientation.

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“…Instead of being a corporate "side activity," CSR is becoming more a part of doing business, especially because of its potential positive effects when done the right way (Carroll and Shabana 2010, The Economist 2009, Simona et al 2013, Rangan et al 2015, Petrenko et al 2016, Cha et al 2016, McPherson 2012 and different ways to measure the effect is suggested (Lion et al 2013). Even though it is also argued that studies reporting on positive effect of CSR are biased and overestimate the positive effect of CSR (Rost and Thomas 2015), there are several examples of how doing CSR right can contribute to increased profitability (Khan et al 2015).…”

Section: Corporate Social Responsibility (Csr)mentioning

confidence: 99%

Beyond sponsorship - exploring the impact of cooperation between corporations and NGOs

Ditlev-Simonsen

2017

Int J Corporate Soc Responsibility

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Corporate social responsibility or CEO narcissism? CSR motivations and organizational performance

Cited by 740 publications

References 111 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

Women on Boards and Corporate Social Responsibility

Beyond sponsorship - exploring the impact of cooperation between corporations and NGOs

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