From childhood poverty to good boss: the impact of CEO's early-life experience on corporate employee responsibility

Ximeng Jia (), Chen Chen (), Yaoqin Li () and Mengyu Hao ()
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Ximeng Jia: Business School of Sichuan University
Chen Chen: Guangdong University of Technology
Yaoqin Li: Business School of Sichuan University
Mengyu Hao: Shanghai University of International Business and Economics

Asian Business & Management, 2023, vol. 22, issue 5, No 7, 1937-1961

Abstract: Abstract Employees are considered essential stakeholders and fundamental competitive resources of firms, highlighting the significance of CEO attention towards employee responsibility. Drawing on upper echelons theory and imprint theory, this study aims to examine the relationship between early-life poverty experience of CEOs and employee responsibility using panel data of Chinese A-share listed companies. Results indicate that CEOs with early-life poverty experience exhibit higher employee responsibility, which is a robust finding across different tests. The study highlights that this effect is more pronounced for highly educated CEOs, state-owned enterprises, and regions with weak legal governance. Additionally, our research indicates that CEOs with poverty experience not only increased basic social security and employee benefits but also reduced perquisite consumption. This study contributes to the research on the influence of executive background on corporate management and the literature on employee responsibility from the perspective of altruistic behavior.

Keywords: Corporate employee responsibility; Poverty experience; Altruistic behavior; Upper echelons theory; Imprint theory (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1057/s41291-023-00235-4

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