کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7414653 1481845 2018 43 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
CEO risk-taking incentives and socially irresponsible activities
ترجمه فارسی عنوان
مدیران ریسک پذیری و فعالیت های اجتماعی غیر مسئولانه
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
چکیده انگلیسی
This study examines the relationship between CEO risk-taking incentives, measured by the sensitivity of CEO wealth held in options to a change in stock return volatility or Vega, and socially irresponsible activities using a large sample of U.S. firms during the period 1992-2012. Our results for the period before the 2007 financial crisis suggest that CEO risk-taking incentives are positively related to socially irresponsible activities. In addition, we find that a firm's socially responsible actions may act as a moderator, strengthening the aforementioned relationship. The results after the 2007 financial crisis show no evidence of a significant relationship between CEO risk-taking incentives and socially irresponsible activities. This could be due to the increased scrutiny regarding compensation packages and the increased role of reputational issues in the aftermath of the financial crisis. Our results suggest that risk-taking incentives embedded in the CEO compensation scheme have implications for corporate policies toward socially irresponsible activities.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The British Accounting Review - Volume 50, Issue 1, January 2018, Pages 76-92
نویسندگان
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