Details

Autor(en) / Beteiligte

• Khan, Talat Mehmood
• Gang, Bai
• Fareed, Zeeshan
• Khan, Anwar

Titel

How does CEO tenure affect corporate social and environmental disclosures in China? Moderating role of information intermediaries and independent board

Ist Teil von

• Environmental science and pollution research international, 2021-02, Vol.28 (8), p.9204-9220

Ort / Verlag

Berlin/Heidelberg: Springer Berlin Heidelberg

Erscheinungsjahr

2021

Quelle

MEDLINE

Beschreibungen/Notizen

• The present study provides empirical evidence on how chief executive officer (CEO) tenure influences the corporate social and environmental disclosures (CS&ED) of all listed non-financial Chinese firms from 2008 to 2016. We used fixed-effect panel data regression model to test our hypothesis. The findings show a negative impact of CEO tenure on CS&ED. Our study provides evidence that CS&ED increases in the early service tenure of CEOs than in their later service periods, as the early increase followed by a decline indicates the presence of non-linear inverted U-shaped association between CEO tenure and disclosure practices. In further analyses, we find that the negative effect of CEO tenure on CS&ED is more pronounced for the firms having a larger number of information intermediaries and independent directors, such as higher level of institutional ownership, analyst’s coverage, and more independent directors in a firm. We found the stronger and robust outcomes after controlling the endogeneity problem. In conclusion, this study can be useful for policymakers to link CS&ED with firm economic practices to attain sustainable development goals. Moreover, CS&ED implementation can be an effective means for the managers to mitigate career-concerns.