Top Management Team Stability and Corporate Social Responsibility: The Moderating Effects of Performance Aspiration Gap and Organisational Slack

Qiang Zheng and Danming Lin
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Qiang Zheng: Business School, Shantou University, Shantou 515063, China
Danming Lin: Business School, Shantou University, Shantou 515063, China

Sustainability, 2021, vol. 13, issue 24, 1-19

Abstract: Although studies on the impact of senior executives on corporate social responsibility (CSR) are relatively sufficient, they take a static perspective when investigating the different attitudes of senior executives towards fulfilling social responsibility. Few studies consider the impact of the dynamic changes in a top management team (TMT) on sustainable corporate development, especially social responsibility. We perform regression analysis on 2010–2019 data from Chinese listed firms to examine the relationship between TMT stability and CSR performance and consider the moderating roles of the performance aspiration gap and slack resources. We find that TMT stability has a positive impact on CSR performance and that the performance aspiration gap and slack resources negatively moderate the relationship between TMT stability and CSR performance. This study expands the current literature on the relationship between TMT characteristics and social responsibility, sheds light on what situations can cause agency problems, and provides practical guidance for the sustainable development of a firm and adequate performance of CSR.

Keywords: top management team stability; corporate social responsibility; performance aspiration gap; slack resources; Chinese listed firm (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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