The Effect of Ethical Fund Portfolio Inclusion on Executive Compensation
This paper divides firms in the Standard and Poor’s 500 (S&P 500) into two groups based on inclusion in or exclusion from the Domini Social Index (DSI). Inclusion in the DSI is interpreted as a positive indicator of ethical status. Using data for the 1992–2003 period, I provide evidence that chi...
Main Author: | |
---|---|
Format: | Electronic Article |
Language: | English |
Check availability: | HBZ Gateway |
Journals Online & Print: | |
Fernleihe: | Fernleihe für die Fachinformationsdienste |
Published: |
Springer
2006
|
In: |
Journal of business ethics
Year: 2006, Volume: 69, Issue: 4, Pages: 317-329 |
Further subjects: | B
Corporate social responsibility
B compensating differential B Domini Social Index B Executive Compensation B ethical funds |
Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
MARC
LEADER | 00000caa a22000002 4500 | ||
---|---|---|---|
001 | 1785626779 | ||
003 | DE-627 | ||
005 | 20230710120946.0 | ||
007 | cr uuu---uuuuu | ||
008 | 220112s2006 xx |||||o 00| ||eng c | ||
024 | 7 | |a 10.1007/s10551-006-9093-6 |2 doi | |
035 | |a (DE-627)1785626779 | ||
035 | |a (DE-599)KXP1785626779 | ||
035 | |a (DE-He213)s10551-006-9093-6-e | ||
040 | |a DE-627 |b ger |c DE-627 |e rda | ||
041 | |a eng | ||
084 | |a 1 |2 ssgn | ||
100 | 1 | |a Brander, James A. |e VerfasserIn |4 aut | |
245 | 1 | 4 | |a The Effect of Ethical Fund Portfolio Inclusion on Executive Compensation |
264 | 1 | |c 2006 | |
336 | |a Text |b txt |2 rdacontent | ||
337 | |a Computermedien |b c |2 rdamedia | ||
338 | |a Online-Ressource |b cr |2 rdacarrier | ||
520 | |a This paper divides firms in the Standard and Poor’s 500 (S&P 500) into two groups based on inclusion in or exclusion from the Domini Social Index (DSI). Inclusion in the DSI is interpreted as a positive indicator of ethical status. Using data for the 1992–2003 period, I provide evidence that chief executive officer (CEO) compensation, other executive compensation, and director compensation tend to be lower in DSI firms than in other firms in the S&P 500. This applies to the unconditional group averages (and medians) and is particularly striking given that DSI firms as a group had better financial performance than the other firms. This finding is also true in a regression framework that controls for other influences on compensation, including firm size and financial performance. In a regression context, the estimated discount for CEOs of DSI firms is approximately 12% for both current compensation (salary and bonuses) and total compensation (including the value of options). These results are consistent with the expectation that some senior executives require a “compensating differential” to accept positions in firms with less attractive ethical status. It is also consistent with the expectation that some firms with positive ethical status might use more restraint in setting executive compensation. | ||
601 | |a Portfolio | ||
650 | 4 | |a Executive Compensation | |
650 | 4 | |a ethical funds | |
650 | 4 | |a Domini Social Index | |
650 | 4 | |a Corporate Social Responsibility | |
650 | 4 | |a compensating differential | |
773 | 0 | 8 | |i Enthalten in |t Journal of business ethics |d Dordrecht : Springer, 1982 |g 69(2006), 4, Seite 317-329 |h Online-Ressource |w (DE-627)270937129 |w (DE-600)1478688-6 |w (DE-576)121465284 |x 1573-0697 |7 nnns |
773 | 1 | 8 | |g volume:69 |g year:2006 |g number:4 |g pages:317-329 |
856 | |3 Volltext |u http://www.jstor.org/stable/25123962 |x JSTOR | ||
856 | 4 | 0 | |u https://doi.org/10.1007/s10551-006-9093-6 |x Resolving-System |z lizenzpflichtig |3 Volltext |
935 | |a mteo | ||
951 | |a AR | ||
ELC | |a 1 | ||
ITA | |a 1 |t 1 | ||
LOK | |0 000 xxxxxcx a22 zn 4500 | ||
LOK | |0 001 4033685642 | ||
LOK | |0 003 DE-627 | ||
LOK | |0 004 1785626779 | ||
LOK | |0 005 20220112043631 | ||
LOK | |0 008 220112||||||||||||||||ger||||||| | ||
LOK | |0 035 |a (DE-Tue135)IxTheo#2021-12-30#AEA92D29B3411B75667941B3549DD03A6431B909 | ||
LOK | |0 040 |a DE-Tue135 |c DE-627 |d DE-Tue135 | ||
LOK | |0 092 |o n | ||
LOK | |0 852 |a DE-Tue135 | ||
LOK | |0 852 1 |9 00 | ||
LOK | |0 866 |x JSTOR#http://www.jstor.org/stable/25123962 | ||
LOK | |0 935 |a ixzs |a ixrk |a zota | ||
ORI | |a SA-MARC-ixtheoa001.raw | ||
STA | 0 | 0 | |a Corporate social responsibility |
STB | 0 | 0 | |a Responsabilité sociale de l'entreprise |
STC | 0 | 0 | |a Responsabilidad social de la empresa |
STD | 0 | 0 | |a Corporate social responsibility,Responsabilità sociale d'impresa,Responsabilità sociale d'impresa |
STF | 0 | 0 | |a 企業社會責任 |
STG | 0 | 0 | |a Responsabilidade social da empresa |
STH | 0 | 0 | |a Корпоративная социальная ответственность |
STI | 0 | 0 | |a Εταιρική κοινωνική ευθύνη,Corporate social responsibility |
SYE | 0 | 0 | |a Corporate social responsibility,Corporate citizenship,Corporate environment responsibility,Corporate environmental responsibility,Corporate responsibility,Corporate sustainability management,Corporate volunteering,CSR (Corporate social responsibility),Environmental social governance,ESG,Gesellschaftliche Unternehmensverantwortung,Gesellschaftliche Verantwortung von Unternehmen,Gesellschaftliches Engagement von Unternehmen,Nachhaltigkeitsmanagement,Soziale Verantwortung von Unternehmen,Soziales Engagement von Unternehmen,Unternehmensverantwortung,Unternehmerische Sozialverantwortung,CSR,Corporate Citizenship,Unternehmerische Gesellschaftsverantwortung,Unternehmerische Sozialverantwortung,Unternehmen |