Li Hui, Hang Yong, Shah Syed Ghulam Meran, Akram Aswad, Ozturk Ilknur
Business School, Hohai University, Nanjing, China.
College of Economics and Management, Jiangsu Maritime Institute, Nanjing, China.
Front Psychol. 2020 Feb 28;11:278. doi: 10.3389/fpsyg.2020.00278. eCollection 2020.
One aspect of entrepreneurship psychology also clarifies individual characteristics. Drawing from entrepreneurship psychology, the concept of a cognitive CEO has been formulated using the DAE statistical technique. The study elucidates that cognitive CEOs not only boost SME performance but also invigorate CSR activity. Data for listed SMEs for the years 2016-2018 are analyzed through the panel regression technique. Significantly, the study demonstrates that CEO age is positively interlinked with the growth and CSR activity of the firm. Moreover, the empirical underpinning of the results also reveals that state-owned enterprises and firms with high total assets prefer cognitive CEOs, who accelerate the firm's value and invigorate CSR activity. The number of independent directors is analyzed as a moderator and is concluded to be an intensifier for both SME growth and CSR activity. Finally, 2SLS instrumental panel regression is used to validate the veracity of the empirical results.
创业心理学的一个方面也阐明了个体特征。借鉴创业心理学，已使用DAE统计技术制定了认知CEO的概念。该研究阐明，认知CEO不仅能提升中小企业的绩效，还能促进企业社会责任活动。通过面板回归技术分析了2016 - 2018年上市中小企业的数据。值得注意的是，该研究表明CEO年龄与公司的增长和企业社会责任活动呈正相关。此外，研究结果的实证依据还表明，国有企业和总资产高的公司更喜欢认知CEO，他们能提升公司价值并促进企业社会责任活动。独立董事的数量作为一个调节变量进行了分析，结果表明它对中小企业的增长和企业社会责任活动都有强化作用。最后，使用两阶段最小二乘法工具面板回归来验证实证结果的准确性。
