CEO power and corporate social responsibility

Joel Harper and Li Sun

American Journal of Business, 2019, vol. 34, issue 2, 93-115

Abstract: Purpose - The purpose of this paper is to examine the impact of chief executive officer (CEO) power on corporate social responsibility (CSR) performance. Design/methodology/approach - The authors use regression analysis to investigate the research question. Findings - Using a 23-year panel sample with 1,574 unique US firms and 8,575 firm-year observations, the authors find a significant and negative relation between CEO power and CSR, suggesting that firms with more powerful CEOs engage in less CSR activities. Originality/value - The results reveal that more powerful CEOs become less responsive to the needs of stakeholder groups, confirming the validity of the stakeholder theory of CSR.

Keywords: Corporate social responsibility; Stakeholder theory; CEO power; Managerial ability; G30; M14 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:ajbpps:ajb-10-2018-0058

DOI: 10.1108/AJB-10-2018-0058

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