The impact of CEO tenure on corporate social and environmental performance: an emerging country’s analysis
This paper analyzes the extent to which CEO (chief executive officer) tenure affects the corporate social and environmental performance of all nonfinancial Chinese firms listed in Shanghai and Shenzhen stock exchanges during 2009–2015. The study uses a fixed-effect panel regression model by consider...
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| Veröffentlicht in: | Environmental science and pollution research international 2020-06, Vol.27 (16), p.19314-19326 |
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| creator | Khan, Talat Mehmood Gang, Bai Fareed, Zeeshan Yasmeen, Rizwana |
| description | This paper analyzes the extent to which CEO (chief executive officer) tenure affects the corporate social and environmental performance of all nonfinancial Chinese firms listed in Shanghai and Shenzhen stock exchanges during 2009–2015. The study uses a fixed-effect panel regression model by considering the overtime data across the firms. 2SLS regression model then is used to control the problem of endogeneity. The study confirms the negative effect (8.8%) of the increase in CEO tenure on the corporate social and environmental performance. The findings also explain that the corporate social and environmental performance of CEOs increases significantly in the initial years of service than in their later years. The study concludes that an inverse relationship between CEO tenure and corporate social and environmental performance is more pronounced with a higher percentage of independent directors, where CEOs have longer anticipated employment tenure and firms under state control, consistent with the signalling explanation of career concern and career horizon effect. Finally, the impact of CEO tenure on corporate social and environmental performance has become stronger in recent years. |
| doi_str_mv | 10.1007/s11356-020-08468-y |
| format | Article |
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The study uses a fixed-effect panel regression model by considering the overtime data across the firms. 2SLS regression model then is used to control the problem of endogeneity. The study confirms the negative effect (8.8%) of the increase in CEO tenure on the corporate social and environmental performance. The findings also explain that the corporate social and environmental performance of CEOs increases significantly in the initial years of service than in their later years. The study concludes that an inverse relationship between CEO tenure and corporate social and environmental performance is more pronounced with a higher percentage of independent directors, where CEOs have longer anticipated employment tenure and firms under state control, consistent with the signalling explanation of career concern and career horizon effect. Finally, the impact of CEO tenure on corporate social and environmental performance has become stronger in recent years.</abstract><cop>Berlin/Heidelberg</cop><pub>Springer Berlin Heidelberg</pub><pmid>32212078</pmid><doi>10.1007/s11356-020-08468-y</doi><tpages>13</tpages></addata></record> |
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| ispartof | Environmental science and pollution research international, 2020-06, Vol.27 (16), p.19314-19326 |
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| language | eng |
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| source | Springer Nature - Complete Springer Journals |
| subjects | Aquatic Pollution Atmospheric Protection/Air Quality Control/Air Pollution Careers Chief executive officers Earth and Environmental Science Ecotoxicology Environment Environmental Chemistry Environmental Health Environmental management Environmental performance Environmental science Regression analysis Regression models Research Article Stock exchanges Tenure Waste Water Technology Water Management Water Pollution Control |
| title | The impact of CEO tenure on corporate social and environmental performance: an emerging country’s analysis |
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