Corporate Governance and Executive Compensation for Corporate Social Responsibility
We link the corporate governance literature in financial economics to the agency cost perspective of corporate social responsibility (CSR) to derive theoretical predictions about the relationship between corporate governance and the existence of executive compensation incentives for CSR. We test our...
| Autores principales: | ; ; |
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| Tipo de documento: | Electrónico Artículo |
| Lenguaje: | Inglés |
| Verificar disponibilidad: | HBZ Gateway |
| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Publicado: |
2016
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| En: |
Journal of business ethics
Año: 2016, Volumen: 136, Número: 1, Páginas: 199-213 |
| Otras palabras clave: | B
Agency costs
B Non-financial performance measures B Gobierno corporativo B Responsabilidad social de la empresa B Executive Compensation B Incentives for CSR |
| Acceso en línea: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Sumario: | We link the corporate governance literature in financial economics to the agency cost perspective of corporate social responsibility (CSR) to derive theoretical predictions about the relationship between corporate governance and the existence of executive compensation incentives for CSR. We test our predictions using novel executive compensation contract data, and find that firms with more shareholder-friendly corporate governance are more likely to provide compensation to executives linked to firm social performance outcomes. Also, providing executives with direct incentives for CSR is an effective tool to increase firm social performance. The findings provide evidence identifying corporate governance as a determinant of managerial incentives for social performance, and suggest that CSR activities are more likely to be beneficial to shareholders, as opposed to an agency cost. |
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| ISSN: | 1573-0697 |
| Obras secundarias: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-015-2962-0 |
