The literature is replete with evidence of the CEO's focused influence on businesses' Corporate Social Responsibility (CSR) initiatives. It would be interesting and extremely important to look into the strategic decisions that the CEO made about stakeholder management when faced with various aspects of company conditions, given that his or her self-interest is different from that of shareholders, who want to maximise value. The research, which builds on agency theory, presents a theoretical framework to heuristically explain and clarify the linkages between a firm's CSR engagements and the market complexity, munificence, and dynamism, which are the three characteristics of the business environment. In addition, I empirically gauge the market parameters and evaluate hypotheses derived from the analytical model. It is discovered that CEOs typically invest more in CSR in competitive markets, less in CSR in charitable markets, and more in charitable markets that are dynamic and unpredictable. These findings are consistent with the theoretical implications. The results demonstrate the value relevance of CSR initiatives and are consistent with earlier research.
Author(s) Details:
Yankuo Qiao,
Financial Research Center, Fudan Development Institute (FDDI), Fudan University, Shanghai, China and The George B. Delaplaine Jr. School of Business, Hood College, Frederick, USA.
Please see the link here: https://stm.bookpi.org/CABEF-V3/article/view/7976
No comments:
Post a Comment