Military top executives and corporate philanthropy: Evidence from China

Luo, Jian; Xiang, Yuangao; Zhu, Ruichao

doi:10.1007/s10490-016-9499-3

Cited by 88 publications

(92 citation statements)

References 65 publications

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“…Moreover, we have found that CEOs' military service experience, an unexplored factor in prior studies, acts as an important driver of firms' pro-environmental behaviors (i.e., environmental protection investment). Our study further contributes to an emerging body of literature that emphasizes the effects of CEOs' or executives' military service experience on corporate decisions (e.g., Benmelech & Frydman, 2015;Law & Mills, 2017;Luo et al, 2017;Malmendier et al, 2011). We extend this line of research to include firms' pro-environmental behaviors such as environmental protection investment.…”

Section: Introductionmentioning

confidence: 69%

“…First, our study contributes to the prior literature that tries to identify the antecedents of firms' environmental performance and pro-environmental behaviors. In the existing literature, the CEO's role in the firm's environmental performance and pro-environmental behaviors has been emphasized (Berrone et al, 2010;Berrone & Gomez-Mejia, 2009;Rivera & Leon, 2005 (Benmelech & Frydman, 2015), tax avoidance strategies (Law & Mills, 2017), corporate philanthropy (Luo et al, 2017), and aggressive policies (Malmendier et al, 2011).…”

Section: Contributionsmentioning

confidence: 99%

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Who really cares about the environment? CEOs’ military service experience and firms’ investment in environmental protection

Gao

Wang

Zhang

2020

Business Ethics Env & Resp

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Prior literature suggests that the chief executive officer (CEO) plays a significant role in a firm's environmental performance or voluntary pro-environmental behaviors; we extend this line of research to examine the effect of CEOs' military service experience on firms' investment in environmental protection. Drawing upon the insights of imprinting theory, we argue that military service experience may instill in CEOs pro-environmental values such as duty, self-discipline, self-sacrifice, and sense of community, which motivate them to adopt pro-environmental behaviors such as investing more resources in environmental protection. However, we argue that the effects of pro-environmental values imprinted on CEOs through military service are likely to vary across regions. In regions where the market is more developed and the local value system has experienced greater exposure to the impact of foreign values, and in regions where firms are more concerned about profit, this effect is likely to be attenuated. An analysis of three waves of a nationwide survey of private firms in China using the Tobit regression model supports these predictions. This study makes a unique contribution to the existing literature by linking a firm's pro-environmental behaviors (i.e., environmental protection investment) to its CEO's experiences in early life (i.e., military service experience).

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Section: Introductionmentioning

confidence: 69%

Section: Contributionsmentioning

confidence: 99%

Who really cares about the environment? CEOs’ military service experience and firms’ investment in environmental protection

Gao

Wang

Zhang

2020

Business Ethics Env & Resp

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“…Perusahaan dengan dewan perempuan cenderung lebih menghargai kepentingan stakeholder dan meningkatkan donasinya (Lin et al, 2018) sehingga menciptakan kinerja ekonomi yang baik. Perusahaan yang memberikan kontribusi yang besar dalam kegiatan tanggung jawab sosial mampu memberikan promosi citra yang baik pada pihak stakeholder maupun pada publik secara luas sehingga menunjukkan bahwa perusahaan mempunyai citra dan kepedulian yang baik (Luo et al, 2017).…”

Section: Pendahuluanunclassified

Pengaruh Keragaman Gender Dewan, Industri dan Ukuran Perusahaan terhadap Donasi Corporate Social Responsibility

Indriyani

Sudaryati

2020

E-Jurnal Akuntansi

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Business developments that embrace the concept of a triple bottom line (TBL) encourage companies to pay attention to environmental and social challenges rather than just focus on maximum profits. Companies must contribute by making donations in corporate social responsibility activities or known as corporate philanthropy as a form of accountability to stakeholders. Research on the factor of board gender diversity, industry type and company size on CSR donations. This research uses multiple regression method. The research sample uses companies listed on the Indonesia stock exchange period 2017-2018. The results showed that the board gender diversity and the type of industry had a significant effect on CSR donations, while the size of the company had no significant effect. Keywords: Board Gender Diversity; Firm Size; Industry Type; Donation On Corporate Social Responsibility.

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“…However, few studies address such problem, which motivates us extend traditional empirical studies by conducting propensity score matching (PSM). PSM method is recently widely used in the field of corporate management (Biswas, ; Chang & Shim, ; Hernandez‐Aguilera et al, ) as it is convinced that this method can effectively tackle the potential sample selection bias to make results more robust (Kwon, Lim, & Lee, ; Luo, Xiang, & Zhu, ). We believe this research problem is appropriate to be dealt with based on PSM in this unique setting.…”

Section: Introductionmentioning

confidence: 99%

Strategic stakeholder management, environmental corporate social responsibility engagement, and financial performance of stigmatized firms derived from Chinese special environmental policy

Jia

Wei

2019

Bus Strat Env

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We draw upon the stigma literature and strategic stakeholder management model to develop a framework capable of explaining the link between environmental corporate social responsibility (ECSR) engagement and financial performance of stigmatized firms, taking stakeholder-oriented governance and density of local stigmatized firms into consideration. Using a uniquely compiled dataset of Chinese firms specifically monitored by the Ministry of Environmental Protection of China, we conducted propensity score matching analysis to estimate the impact of stigma on corporate financial performance and corporate environmental responsibility. The result shows that the financial performance of stigmatized firms is negatively affected by the stigma label, spurring them to engage in more ECSR than their peers to improve their legitimacy. Though ECSR engagement of stigmatized firms is found to be negatively associated with their financial performance in current study. Our results also confirm that (a) the financial performance of stigmatized firms is positively affected by two proxies for corporate stakeholder-oriented governance (i.e., institutional ownership and corporate transparency) and negatively affected by the density of local stigmatized firms;(b) corporate stakeholder-oriented governance compensates for the negative effect of ECSR engagement; (c) high intensity of local stigmatized firms provides focal firms with an opportunity to improve their financial performance through ECSR engagement; and (d) the positive effects of corporate stakeholder-oriented governance are diminished by the density of local stigmatized firms. KEYWORDS density of local stigmatized firms, environmental CSR engagement, financial performance, propensity score matching, stakeholder-oriented governance, strategic stakeholder management

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Military top executives and corporate philanthropy: Evidence from China

Cited by 88 publications

References 65 publications

Who really cares about the environment? CEOs’ military service experience and firms’ investment in environmental protection

Who really cares about the environment? CEOs’ military service experience and firms’ investment in environmental protection

Pengaruh Keragaman Gender Dewan, Industri dan Ukuran Perusahaan terhadap Donasi Corporate Social Responsibility

Strategic stakeholder management, environmental corporate social responsibility engagement, and financial performance of stigmatized firms derived from Chinese special environmental policy

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