How is Board External Connectedness Related to Firm's CSR Engagement ?
| Autor: | HSU, YEN-YU, 許晏瑜 |
|---|---|
| Rok vydání: | 2013 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 101 In this study we explore how board external connectedness is related to corporate social reasonability. Our result from 1,120 listed firms in the Taiwan stock market indicates that firm size dictates board external connectedness which in turn positively associated with firm’s engagement of social responsibility and the extent of social responsibility. We use three previously-developed hypotheses to illustrate why firms would engage in social responsibility: overinvestment (Barnea and Rubin, 2006), product signaling (Fisman, Heal, and Nair, 2005), and strategic choice (Cespa and Cestone, 2000). Our result is mainly consistent with the prediction of the strategic choice hypothesis in the sense that a well-entrenched CEO (as manifested in CEO/chairman duality) is less likely to engage in social responsibility. Moreover, we find that firm’s CSR engagement is positively related to size-dictated board external connectedness, but is somewhat thwarted by a lower marginal benefit (high managerial entrenchment) and a higher marginal cost (high directors’ shareholding) of CSR engagement. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|