CEO Hubris and Firm Pollution: State and Market Contingencies in a Transitional Economy
Lu Zhang (),
Shenggang Ren (),
Xiaohong Chen (),
Dayuan Li () and
Duanjinyu Yin ()
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Lu Zhang: Central South University
Shenggang Ren: Central South University
Xiaohong Chen: Central South University
Dayuan Li: Central South University
Duanjinyu Yin: Queen Mary University of London
Journal of Business Ethics, 2020, vol. 161, issue 2, No 11, 459-478
Abstract This study focuses on CEO hubris and its effect on corporate unethical behaviour—pollution in particular, and in addition examines critical institutional contingencies [state ownership (SO), political connection (PC) and industrial competition] which may moderate this effect. With data from over-polluting listed firms based on the real-time pollution monitoring system in transitional China from 2015 to 2017, we find that CEO hubris is significantly positively related to firm pollution, and that the moderating role of SO is not significant, that PC positively moderates the hubris–pollution relationship and that industrial competition negatively moderates this relationship. These findings contribute to research on the upper echelon theory, institutional theory and the growing literature on emerging economies.
Keywords: CEO hubris; Firm pollution; State ownership; Political connection; Industrial competition; China (search for similar items in EconPapers)
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