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SubmittedOpen Access (License Unspecified), Open
Journal article
Corporate social performance and the managerial labor market
Review of accounting studies
05 Nov 2021
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
This paper examines the impact of a firm's social performance on the CEO's employment prospects. We find that CEOs are more (less) likely to leave office when there is a significant recent decline (improvement) in social performance. We then track departing CEOs' subsequent employment records and find that the social performance of their previous employers improves their labor market outcomes. These CEOs are more likely to find a new executive position, move up to a larger public firm, and receive higher compensation from the new public firm. Using a Cox proportional hazard model, we find that the strong social performance of the previous employer helps CEOs find their next executive positions sooner. Overall, our results suggest that corporate social performance enhances CEOs' labor market potential.
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Details
- Title
- Corporate social performance and the managerial labor market
- Creators
- Xin Dai - Drexel UniversityFeng Gao - Rutgers, The State University of New JerseyLing Lei Lisic - Pamplin College of BusinessIvy Xiying Zhang - University of California, Riverside
- Publication Details
- Review of accounting studies
- Publisher
- Springer Nature
- Number of pages
- 33
- Grant note
- Wayne E. Leininger Professorship at Virginia Tech
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Accounting
- Web of Science ID
- WOS:000714904000001
- Scopus ID
- 2-s2.0-85118671319
- Other Identifier
- 991019167340004721
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- Collaboration types
- Domestic collaboration
- Web of Science research areas
- Business, Finance