Does CEO social capital affect corporate ESG performance?
Wenyi Wu, Zhaoping Tian, Guangzhi Wang · 2024
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Description
Wenyi Wu, Zhaoping Tian, and Guangzhi Wang test, in a 2024 study, whether a chief executive's social connections help or hurt a firm's record on environment, social, and governance goals. A well-connected boss might open doors, but might also chase private gain over public duty.
Using Chinese listed firms from 2010 to 2020, the team found that stronger chief executive social capital went with weaker ESG scores overall. Busy stock trading and holding both top jobs at once softened that link. In state-owned firms the connection effect even turned helpful, while in large firms it was most harmful. The authors also report that ESG work itself trimmed shareholder wealth in their sample.
Catalog record
| CREATOR | Wenyi Wu, Zhaoping Tian, Guangzhi Wang |
|---|---|
| YEAR | 2024 |
| COLLECTION | PAPERS |
| FORMAT | TXT |
| FILE SIZE | 53 KB |
| VERSION | 1.0 |
| LICENSE | CC BY 4.0 |
| RIGHTS | CC BY |
| SOURCE | Europe PMC |