Different Leaders in a COVID-19 Scenario: CEO Altruism and Generous Discourse

Abstract

Academic literature has begun to be interested in the informational gaps between what companies say and do in relation to their financial performance and their commitment to society and the environment, identifying the use of self-protection and self-enhancement strategies before their interest groups. In this research, based on a statistical analysis of textual data and a correspondence analysis, the sentiment of the discourse that Spanish CEOs have held with their stakeholders regarding the operational and strategic decisions they made in the face of COVID-19 is analysed. The evidence shows that managers who promptly reported negative news regarding divestments, cutting expenses and destroying jobs, used the epidemic as justification. The leaders who combined these decisions with responsible actions—focused on the ethical and commercial sustainable dimensions—adopted an approach with a different degree of self-enhancement to value their responsible decisions. In contrast, optimistic CEOs, altruistically committed to society, opted for more personal, emotional, dynamic and constant channels and procedures, avoiding selfish attributions for their actions.

The drivers of the integration of the sustainable development goals into the non‐financial information system: Individual and joint analysis of their influence

“…Finally, there are other important factors that have not been considered in this study and may affect the conclusions drawn due to their effect on some of the analysed variables. For instance, given investor interest in knowing the efforts and progress of companies in complying with the SDGs (García‐Sánchez et al, 2020d, 2021d; Schramade, 2017), future studies could analyse how the power dynamics between different types of institutional investors and management affect the role they play in relation to SDG reporting, and who is going to drive the integration of the SDGs into the company's non‐information system.…”

Are firms with better sustainability performance more resilient during crises?

“…Hybels (1995) notes that firms that lack legitimacy would see a decrease in profits, often leading to corporate failure. García‐Sánchez, Amor‐Esteban, and García‐Sánchez (2021) summarize three reasons why firms pursue sustainability following Bansal and Roth (2000): (1) competitive advantages from economic or reputational benefits (competitiveness); (2) external pressure to meet key stakeholders' demands (legitimacy); and (3) top manager/directors/owners' ethical and moral reasons (social responsibility). They find a link between CEOs' optimism and their sustainability‐related actions during COVID‐19 (García‐Sánchez, Amor‐Esteban, & García‐Sánchez, 2021).…”

Gender disclosure: The impact of peer behaviour and the firm's equality policies

“…Much of the literature on gender equality has referred to the field of CSR, and has studied the presence of a relationship between gender diversity (especially within the boards of directors) and the adoption of CSR practices, as well as related reporting (Ahmed et al, 2017; Buertey, 2021; Gangi et al, 2021; García‐Sánchez, Amor‐Esteban, & García‐Sánchez, 2021; García‐Sánchez, Gallego‐Álvarez, & Zafra‐Gómez, 2020; Graafland, 2020; Liao et al, 2015; Manita et al, 2018; Post et al, 2011; Rao & Tilt, 2016; Rodriguez‐Gomez et al, 2020; Valls Martínez et al, 2020; Veltri et al, 2021; Vitolla, Raimo, Marrone, & Rubino, 2020; Vitolla, Raimo, & Rubino, 2020). In fact, several studies have highlighted a positive association between women's involvement and CSR performance (Provasi & Harasheh, 2021).…”