Demonstrating the interconnection of hierarchical order disturbances in CEO succession with corporate social responsibility and environmental sustainability

Muddassar Sarfraz, Syed G. M. Shah, Zeeshan Fareed and Farrukh Shahzad

Corporate Social Responsibility and Environmental Management, 2020, vol. 27, issue 6, 2956-2971

Abstract: This study contemplates the negative interconnection between hierarchical order disturbance in chief executive officer succession and corporate social responsibility. The study contributes while formulating corporate social responsibility ratio index, hierarchical order disturbances, and hierarchical order disturbance intensity. Significantly, corporate social responsibility index has been formulated through demonstrating 13 attributes constituting the GRI sustainable and environmental sustainable development reports. We have analyzed the data of 2,644 listed firms for the years 2014–2018. 2SLS instrumental regression and GMM techniques have been executed for confirmation of the authenticity of the results. Empirical results enunciate that incumbent chief executive officers via hierarchical order disturbance having technical education are more orientated toward corporate social responsibility activities. It has been evaluated that medium and high hierarchical order disturbance and intensity in chief executive officers succession influence the corporate social responsibility activity negatively. Specifically, firms having large number of employees prefer to adopt activity. Conclusively, the role of independent directors has been contemplated as moderators while orientating the novel successor toward corporate social responsibility activity.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:wly:corsem:v:27:y:2020:i:6:p:2956-2971

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