CSR and CEO pay: Does CEO reputation matter?

Ho, H; Kim, N; Reza, S

CSR and CEO pay: Does CEO reputation matter?

Ho, H

Kim, N Reza, S

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Publisher:: Elsevier BV
Publication Type:: Journal Article
Citation:: Journal of Business Research, 2022, 149, pp. 1034-1049
Issue Date:: 2022-05

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Field	Value	Language
dc.contributor.author	Ho, H https://orcid.org/0000-0002-0650-8716
dc.contributor.author	Kim, N
dc.contributor.author	Reza, S
dc.date.accessioned	2022-11-27T23:56:28Z
dc.date.available	2022-11-27T23:56:28Z
dc.date.issued	2022-05
dc.identifier.citation	Journal of Business Research, 2022, 149, pp. 1034-1049
dc.identifier.issn	0148-2963
dc.identifier.uri	http://hdl.handle.net/10453/163762
dc.description.abstract	The stakeholder perspective in the corporate social responsibility (CSR) literature emphasizes the role of CSR in firm value creation and suggests that chief executive officers (CEOs) would be rewarded for higher levels of CSR engagement. In contrast, the agency theory perspective from financial economics considers CSR as a potential executive agency problem for shareholders, suggesting that CEOs would not be incentivized for CSR engagement. The present study addresses this contentious issue by theorizing and examining CEO reputation—based on employee recognition and competence respectively—as important moderators of the CSR–CEO pay relationship, using data on a sample of public companies from 2010 to 2015. Findings show that the nature of the relationship between a firm's CSR engagement and CEO pay is conditional on the level of the CEO's reputation based on employee recognition but not when based on competence. Implications for the literature and for managerial practices are also discussed.
dc.language	en
dc.publisher	Elsevier BV
dc.relation.ispartof	Journal of Business Research
dc.relation.isbasedon	10.1016/j.jbusres.2022.04.055
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject	1505 Marketing
dc.subject.classification	Marketing
dc.title	CSR and CEO pay: Does CEO reputation matter?
dc.type	Journal Article
utslib.citation.volume	149
utslib.for	1505 Marketing
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Marketing Discipline
utslib.copyright.status	closed_access	*
pubs.consider-herdc	true
dc.date.updated	2022-11-27T23:56:27Z
pubs.publication-status	Published
pubs.volume	149

Abstract:

The stakeholder perspective in the corporate social responsibility (CSR) literature emphasizes the role of CSR in firm value creation and suggests that chief executive officers (CEOs) would be rewarded for higher levels of CSR engagement. In contrast, the agency theory perspective from financial economics considers CSR as a potential executive agency problem for shareholders, suggesting that CEOs would not be incentivized for CSR engagement. The present study addresses this contentious issue by theorizing and examining CEO reputation—based on employee recognition and competence respectively—as important moderators of the CSR–CEO pay relationship, using data on a sample of public companies from 2010 to 2015. Findings show that the nature of the relationship between a firm's CSR engagement and CEO pay is conditional on the level of the CEO's reputation based on employee recognition but not when based on competence. Implications for the literature and for managerial practices are also discussed.

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http://hdl.handle.net/10453/163762