Khan Talat Mehmood, Bai Gang, Fareed Zeeshan, Quresh Shakir, Khalid Zameer, Khan Waheed Ahmed
School of Finance, Southwestern University of Finance and Economics, Chengdu, China.
School of Business, Huzhou University, Huzhou, China.
Front Psychol. 2021 Jan 22;11:574062. doi: 10.3389/fpsyg.2020.574062. eCollection 2020.
This study uncovers a new finding on the impact of CEO tenure on corporate social and environmental performance (CS&EP) in coastal and non-coastal areas of China using fixed-effect panel data regression models. The Two-Stage Least Squares instrumental panel regression is used to validate the veracity of the empirical results. To this end, we extract data from all non-financial Chinese listed firms for the period of 2009 to 2015. By applying the multivariant framework, the findings of the study exhibit a negative and significant effect of CEO tenure on CS&EP. Moreover, this study shows that firms with head offices in coastal areas of China tend to weaken the negative impact of CEO tenure on CS&EP, indicating that CS&EP is more focused in coastal areas of China than non-coastal ones. The findings suggest that the increase in CEOs' CS&EP in the early years of their service tenure tends to increase their compensation packages. This study is useful for policymakers to link CS&EP with firm economic practices to attain sustainable development objectives.
本研究运用固定效应面板数据回归模型，揭示了中国沿海和非沿海地区首席执行官任期对企业社会和环境绩效（CS&EP）影响的新发现。采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。为此，我们提取了2009年至2015年期间所有中国非金融上市公司的数据。通过应用多变量框架，研究结果显示首席执行官任期对CS&EP有负面且显著的影响。此外，本研究表明，总部位于中国沿海地区的公司往往会削弱首席执行官任期对CS&EP的负面影响，这表明中国沿海地区比非沿海地区更注重CS&EP。研究结果表明，首席执行官在任职初期CS&EP的提升往往会增加他们的薪酬待遇。本研究有助于政策制定者将CS&EP与企业经济实践联系起来，以实现可持续发展目标。
