CEO Turnover and Ethical Transparency: The Role of Leadership Transitions in Shaping ESG Disclosure Among KOSPI‐Listed Companies

Jongwon Choi, Suk Hyun and Ju Hyoung Park

Corporate Social Responsibility and Environmental Management, 2025, vol. 32, issue 5, 6690-6711

Abstract: This study investigates the impact of CEO turnover on environmental, social, and governance (ESG) disclosure practices, focusing on how distinct types of leadership transitions influence corporate transparency in an emerging market context. Drawing on data from KOSPI‐listed firms in South Korea between 2013 and 2020, we develop a detailed typology of CEO turnover, including internal versus external appointments, owner‐manager versus professional managers, and voluntary versus forced transitions, to examine their differential effects on ESG reporting. We find that ESG disclosure significantly increases following CEO transition, particularly when the incoming CEO is an externally hired or a professional executive. The results underscore the strategic role of leadership change in advancing sustainability initiatives, as new CEOs often seek legitimacy and alignment with stakeholder expectations.

Date: 2025
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https://doi.org/10.1002/csr.70049

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Persistent link: https://EconPapers.repec.org/RePEc:wly:corsem:v:32:y:2025:i:5:p:6690-6711

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