2020
DOI: 10.1108/ijmf-12-2018-0379
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Executive compensation and corporate social responsibility: does a golden parachute matter?

Abstract: PurposeThis study examines the efficacy of compensation in encouraging corporate executives to promote corporate social responsibility (CSR). In particular, it closely examines the effect of a golden parachute (GP) on an executive's behavior toward CSR.Design/methodology/approachThis study uses longitudinal data on 1,301 US firms for the period from 1993 to 2013. The data comes from Compustat, MSCI ESG STATS, RiskMetrics and ExecuComp.FindingsWe find an inverse association between current and long-term compens… Show more

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Cited by 20 publications
(23 citation statements)
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References 114 publications
(108 reference statements)
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“…It depicts that CEO pay is crucial determinant of ESGP and ENVP of UK listed firms. The positive effect of CEO pay variables on ESGP and ENVP is also consistent with the findings of prior studies(Berrone & Gomez-Mejia, 2009;Cordeiro & Sarkis, 2008), and the theoretical predictions of economic view of NIT that CEO pay can play an important role in enhancing ESGP and ENVP by encouraging CEOs to pursue projects that enhance SBPs and environmental performance of firms(Haque & Ntim, 2020;Okafor &…”
supporting
confidence: 87%
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“…It depicts that CEO pay is crucial determinant of ESGP and ENVP of UK listed firms. The positive effect of CEO pay variables on ESGP and ENVP is also consistent with the findings of prior studies(Berrone & Gomez-Mejia, 2009;Cordeiro & Sarkis, 2008), and the theoretical predictions of economic view of NIT that CEO pay can play an important role in enhancing ESGP and ENVP by encouraging CEOs to pursue projects that enhance SBPs and environmental performance of firms(Haque & Ntim, 2020;Okafor &…”
supporting
confidence: 87%
“…The findings support the argument that because the CEO is the locus of control, CEO's pay can be structured based on factors such as GHGP (Haque & Ntim, 2020; Stanwick & Stanwick, 2001). For example, incentive pay policy can encourage CEOs to allocate resources toward clean and efficient energy which can reduce GHG emissions (Aslam et al, 2021; Okafor & Ujah, 2020). Empirically, the obtained result for the link between BCEO and GHGP provides empirical support for the results of Frye et al (2006) who document similar evidence.…”
Section: Empirical Results and Discussionmentioning
confidence: 99%
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