Corporate social responsibility and types of CEO turnover

Dmitriy Chulkov and Xiaoqiong Wang

International Journal of Monetary Economics and Finance, 2024, vol. 17, issue 2/3, 170-178

Abstract: This study examines the relationship between corporate social responsibility (CSR) and different types of chief executive officer (CEO) turnover. Our findings, based on a sample of over 2500 US firms, clarify how CSR engagement relates to CEO turnover by reason and source of new CEO. Firms with higher CSR measures are positively associated with the firing of CEOs and negatively associated with normal retirements. Low-CSR firms are more likely to experience contender successions that indicate a power struggle within the firm's management. This relationship becomes stronger when other members of the top management team (TMT) leave the firm at the time of CEO turnover. The results suggest that CSR is an indicator of good corporate governance.

Keywords: CEO turnover; CSR; corporate social responsibility; financial economics; contender succession; corporate governance; statistical modelling. (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=139052 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmefi:v:17:y:2024:i:2/3:p:170-178

Access Statistics for this article

More articles in International Journal of Monetary Economics and Finance from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().