How do prestigious CEOs change corporate ESG initiatives?

Ying Chen, Zhitao Wang and Fan Ye

International Review of Financial Analysis, 2025, vol. 104, issue PA

Abstract: This study uses a sample of publicly listed companies in China to examine the impact of award-winning chief executive officers (CEOs) on corporate ESG performance. The findings provide strong evidence that prestigious CEOs are linked to improved ESG outcomes. Additionally, we identify financial constraints and media coverage as key mediators underlying this relationship. Furthermore, the positive influence of award-winning CEOs is more pronounced in non-state-owned enterprises, high-tech companies, and firms located in regions with less developed banking sectors. In conclusion, this paper highlights the effects of award-winning CEOs and the drivers of corporate ESG behavior.

Keywords: Award-winning; Prestigious CEOs; ESG; Chinese firms (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:104:y:2025:i:pa:s1057521925003606

DOI: 10.1016/j.irfa.2025.104273

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