Executive team heterogeneity, equity concentration and corporate social responsibility(PDF)
《长安大学学报（社科版）》[ISSN:1671-6248/CN:61-1391/C]
- Issue:
- 2020年03期
- Page:
- 46-54
- Research Field:
- 经济与管理
- Publishing date:
Info
- Title:
- Executive team heterogeneity, equity concentration and corporate social responsibility
- Author(s):
- XU Haicheng; ZHANG Beiqi; XU Si
- School of Economics and Management, Chang’an University, Xi’an 710064, Shaanxi, China
- Keywords:
- executive team; heterogeneity; age; tenure; salary; equity concentration; social responsibility; sharing channel
- PACS:
- F270.7
- DOI:
- -
- Abstract:
- As the rating report on corporate social responsibility shows that the performance level of social responsibility bylisted companies in China is generally low, this paper constructs the fixed effect and panel threshold model based on the highlevel echelon theory and demand hierarchy theory, using the 261 Ashare listed companies in Shanghai and Shenzhen from 2014 to 2017 as research samples, and studies the impact of the heterogeneity of the executive team on corporate social responsibility and the regulatory role of equity concentration on the relationship between them. The results show that the age heterogeneity and education level heterogeneity of executive team have a significant negative impact on corporate social responsibility. At the same time, when equity concentration is the threshold variable, there is a nonlinear relationship between age heterogeneity and education level heterogeneity of the executiveteam and corporate social responsibility. When equity concentration is lower than 11.65%, age heterogeneity and education level heterogeneity of executive team have a significant positive impact on corporate social responsibility. When equity concentration is higher than 11.65%, age heterogeneity and education level heterogeneity of executive team have a significant negative impact on corporate social responsibility. Based on the consideration of equity concentration, enterprises can effectively build anexecutive team to realize the optimal allocation of human resources; establish appropriate communication mechanism to ensure the smooth flow of information transmission and sharing channels, and reduce the negative impact of heterogeneity on the formulation and implementation of corporate social responsibility strategies.
Last Update: 2020-07-02