How do chief executive officers with pilot status navigate through corporate social responsibility?

References

• Albuquerque, R., Y. Koskinen, and C. Zhang. 2019. “Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence.” Management Science 65 (10): 4451–4469. doi:10.1287/mnsc.2018.3043.
   Web of Science ®Google Scholar
• Ayadi, M., M. Kusy, M. Pyo, and S. Trabelsi. 2015. “Corporate Social Responsibility, Corporate Governance, and Managerial Risk-Taking.” Working paper.
   Google Scholar
• Branco, M., and L. Rodrigues. 2006. “Corporate Social Responsibility and Resource-Based Perspectives.” Journal of Business Ethics 69 (2): 111–132. doi:10.1007/s10551-006-9071-z.
   Web of Science ®Google Scholar
• Brickley, J., J. Coles, and G. Jarrell. 1997. “Leadership Structure: Separating the CEO and Chairman of the Board.” Journal of Corporate Finance 3 (3): 189–220. doi:10.1016/S0929-1199(96)00013-2.
   Google Scholar
• Cain, M., and S. McKeon. 2016. “CEO Personal Risk-Taking and Corporate Policies.” Journal of Financial and Quantitative Analysis 51 (1): 139–164. doi:10.1017/S0022109016000041.
   Web of Science ®Google Scholar
• Cho, C.K., T.S. Cho, and J. Lee. 2019. “Managerial Attributes, Consumer Proximity, and Corporate Environmental Performance.” Corporate Social Responsibility and Environmental Management 26 (1): 159–169. doi:10.1002/csr.1668.
   Web of Science ®Google Scholar
• Cronqvist, H., A. Makhija, and S. Yonker. 2012. “Behavioral Consistency in Corporate Finance: CEO Personal and Corporate Leverage.” Journal of Financial Economics 103 (1): 20–40. doi:10.1016/j.jfineco.2011.08.005.
   Web of Science ®Google Scholar
• Dhaliwal, D., O. Li, A. Tsang, and Y. Yang. 2011. “Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting.” The Accounting Review 86 (1): 59–100. doi:10.2308/accr.00000005.
   Web of Science ®Google Scholar
• Duffy, T. 2006. “Military Experience and Ceos: Is There a Link?” Korn/Ferry International Report. Accessed 16 January 2020. https://www.kornferry.com/insights/articles/190-military-experience-and-ceos-is-there-a-link
   Google Scholar
• Dunbar, C., Z. Li, and Y. Shi. 2020. “CEO risk-taking incentives and corporate social responsibility.” Journal of Corporate Finance 64: 101714.
   Web of Science ®Google Scholar
• El Ghoul, S., O. Guedhami, C. Kwok, and D. Mishra. 2011. “Does Corporate Social Responsibility Affect the Cost of Capital?” Journal of Banking & Finance 35 (9): 2388–2406. doi:10.1016/j.jbankfin.2011.02.007.
   Web of Science ®Google Scholar
• Elder, G., and E. Clipp. 1989. “Combat Experience and Emotional Health: Impairment and Resilience in Later Life.” Journal of Personality 57 (2): 311–341. doi:10.1111/j.1467-6494.1989.tb00485.x.
   PubMed Web of Science ®Google Scholar
• Elder, G., C. Gimbel, and R. Ivie. 1991. “Turning Points in Life: The Case of Military Service and War.” Military Psychology 3 (4): 215–231. doi:10.1207/s15327876mp0304_3.
   Google Scholar
• Epstein, L. 1998. “Risk Aversion and Asset Prices.” Journal of Monetary Economics 22 (2): 179–192. doi:10.1016/0304-3932(88)90018-9.
   Web of Science ®Google Scholar
• Fabrizi, M., C. Mallin, and G. Michelon. 2014. “The Role of Ceo’s Personal Incentives in Driving Corporate Social Responsibility.” Journal of Business Ethics 124 (2): 311–326. doi:10.1007/s10551-013-1864-2.
   Web of Science ®Google Scholar
• Fauver, L., M. Hung, and A. Taboada. 2017. “Board Reforms and Firm Value: Worldwide Evidence.” Journal of Financial Economics 125 (1): 120–142. doi:10.1016/j.jfineco.2017.04.010.
   Web of Science ®Google Scholar
• Ferrell, A., H. Liang, and L. Renneboog. 2016. “Socially Responsible Firms.” Journal of Financial Economics 122 (3): 585–606. doi:10.1016/j.jfineco.2015.12.003.
   Web of Science ®Google Scholar
• Flynn, F., and B. Staw. 2004. “Lend Me Your Wallets: The Effect of Charismatic Leadership on External Support for an Organization.” Strategic Management Journal 25 (4): 309–330. doi:10.1002/smj.377.
   Web of Science ®Google Scholar
• Freeman, R., J. Harrison, A. Wicks, B. Parmar, and S. de Colle. 2010. Stakeholder Theory. Cambridge, UK: Cambridge University Press.
   Google Scholar
• Gibbons, R., and K. Murphy. 1992. “Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence.” The Journal of Political Economy 100 (3): 468–505. doi:10.1086/261826.
   Web of Science ®Google Scholar
• Godfrey, P., C. Merrill, and J. Hansen. 2009. “The Relationship Between Corporate Social Responsibility and Shareholder Value: An Empirical Test of the Risk Management Hypothesis.” Strategic Management Journal 30 (4): 425–445. doi:10.1002/smj.750.
   Web of Science ®Google Scholar
• Graham, J., C. Harvey, and M. Puri. 2013. “Managerial Attitudes and Corporate Actions.” Journal of Financial Economics 109 (1): 103–121. doi:10.1016/j.jfineco.2013.01.010.
   Web of Science ®Google Scholar
• Grinblatt, M., and M. Keloharju. 2009. “Sensation Seeking, Overconfidence, and Trading Activity.” The Journal of Finance 64 (2): 549–578. doi:10.1111/j.1540-6261.2009.01443.x.
   Web of Science ®Google Scholar
• Hambrick, D. 2007. “Upper Echelons Theory: An Update.” Academy of Management Review 32 (2): 334–343. doi:10.5465/amr.2007.24345254.
   Web of Science ®Google Scholar
• Hambrick, D., and P. Mason. 1984. “Upper Echelons: The Organization as a Reflection of Its Top Managers.” Academy of Management Review 9 (2): 193–206. doi:10.2307/258434.
   Web of Science ®Google Scholar
• Harjoto, M., and I. Laksmana. 2018. “The Impact of Corporate Social Responsibility on Risk Taking and Firm Value.” Journal of Business Ethics 151 (2): 353–373.
   Web of Science ®Google Scholar
• Haubrich, J. 1994. “Risk Aversion, Performance Pay, and the Principal-Agent Problem.” The Journal of Political Economy 102 (2): 258–276.
   Web of Science ®Google Scholar
• Hedström, P., R. Swedberg, and G. Hernes, eds. 1998. Social Mechanisms: An Analytical Approach to Social Theory. United Kingdom: Cambridge University Press.
   Google Scholar
• Herremans, I., J. Nazari, and F. Mahmoudian. 2016. “Stakeholder Relationships, Engagement, and Sustainability Reporting.” Journal of Business Ethics 138 (3): 417–435.
   Web of Science ®Google Scholar
• Hrazdil, K., J.-B. Kim, and X. Li. 2022. “Customers’ Risk Tolerance and Suppliers’ Investment Efficiency.” Journal of Risk and Financial Management 15 (2): 63–85.
   Web of Science ®Google Scholar
• Hrazdil, K., F. Mahmoudian, and J. Nazari. 2021. “Executive Personality and Sustainability: Do Extraverted Ceos Improve Corporate Social Responsibility?” Corporate Social Responsibility and Environmental Management 28 (6): 1564–1578.
   Web of Science ®Google Scholar
• Hrazdil, K., J. Novak, R. Rogo, C. Wiedman, and R. Zhang. 2020. “Measuring Executive Personality Using Machine-Learning Algorithms: A New Approach and Audit Fee-Based Validation Tests.” Journal of Business Finance & Accounting 47 (2–3): 519–544.
   Web of Science ®Google Scholar
• Hull, C., and S. Rothenberg. 2008. “Firm Performance: The Interactions of Corporate Social Performance with Innovation and Industry Differentiation.” Strategic Management Journal 29 (7): 781–789.
   Web of Science ®Google Scholar
• Jensen, M., and K. Murphy. 1990. “Performance Pay and Top-Management Incentives.” The Journal of Political Economy 98 (2): 225–264.
   Web of Science ®Google Scholar
• Jo, H., and H. Na. 2012. “Does CSR Reduce Firm Risk? Evidence from Controversial Industry Sectors.” Journal of Business Ethics 110 (4): 441–456.
   Web of Science ®Google Scholar
• Karuna, C. 2007. “Industry Product Market Competition and Managerial Incentives.” Journal of Accounting & Economics 43 (2–3): 275–297.
   Web of Science ®Google Scholar
• Kitzmueller, H., and J. Shimshack. 2012. “Economic Perspectives on Corporate Social Responsibility.” Journal of Economic Literature 50 (1): 51–84.
   Web of Science ®Google Scholar
• KPMG. 2017. “The Road Ahead: The KPMG Survey of Corporate Responsibility Reporting 2017.” Accessed 10 March 2020. https://www.kornferry.com/insights/articles/190-military-experience-and-ceos-is-there-a-link
   Google Scholar
• Lee, J., B. Hwang, and H. Chen. 2017. “Are Founder Ceos More Overconfident Than Professional Ceos? Evidence from S&P 1500 Companies.” Strategic Management Journal 38 (3): 751–769.
   Web of Science ®Google Scholar
• Li, F., T. Li, and D. Minor. 2016. “CEO Power, Corporate Social Responsibility, and Firm Value: A Test of Agency Theory.” International Journal of Managerial Finance 12 (5): 611–628.
   Web of Science ®Google Scholar
• Lins, K., H. Servaes, and A. Tamayo. 2017. “Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility During the Financial Crisis.” The Journal of Finance 72 (4): 1785–1824.
   Web of Science ®Google Scholar
• Luo, J., Y. Xiang, and R. Zhu. 2017. “Military Top Executives and Corporate Philanthropy: Evidence from China.” Asia Pacific Journal of Management 34 (3): 725–755.
   Web of Science ®Google Scholar
• Mahmoudian, F., J. Nazari, I. Gordon, and K. Hrazdil. 2021. “CEO Personality and Language Use in CSR Reporting.” Business Ethics, the Environment & Responsibility 30 (3): 338–359.
   Google Scholar
• Manner, M. 2010. “The Impact of CEO Characteristics on Corporate Social Performance.” Journal of Business Ethics 93 (1): 53–72.
   Web of Science ®Google Scholar
• McCarthy, S., B. Oliver, and S. Song. 2017. “Corporate Social Responsibility and CEO Confidence.” Journal of Banking & Finance 75: 280–291.
   Web of Science ®Google Scholar
• McWilliams, A., and D. Siegel. 2001. “Corporate Social Responsibility: A Theory of the Firm Perspective.” Academy of Management Review 26 (1): 117–127.
   Web of Science ®Google Scholar
• Minor, D., and J. Morgan. 2011. “CSR as Reputation Insurance: Primum Non Nocere.” California Management Review 53 (3): 40–59.
   Web of Science ®Google Scholar
• Nazari, J., K. Hrazdil, and F. Mahmoudian. 2017. “Assessing Social and Environmental Performance Through Narrative Complexity in CSR Reports.” Journal of Contemporary Accounting & Economics 13 (2): 166–178.
   Web of Science ®Google Scholar
• Orlitzky, M., and J. Benjamin. 2001. “Corporate Social Performance and Firm Risk: A Meta-Analytic Review.” Business & Society 40 (4): 369–396.
   Google Scholar
• Orlitzky, M., F. Schmidt, and S. Rynes. 2003. “Corporate Social and Financial Performance: A Meta-Analysis.” Organization Studies 24 (3): 403–441.
   Web of Science ®Google Scholar
• Owen, D., T. Swift, C. Humphrey, and M. Bowerman. 2000. “The New Social Audits: Accountability, Managerial Capture or the Agenda of Social Champions?” European Accounting Review 9 (1): 81–98.
   Google Scholar
• Padgett, R., and J. Galan. 2010. “The Effect of R&D Intensity on Corporate Social Responsibility.” Journal of Business Ethics 93 (3): 407–418.
   Web of Science ®Google Scholar
• Petrenko, O., F. Aime, J. Ridge, and A. Hill. 2016. “Corporate Social Responsibility or CEO Narcissism? CSR Motivations and Organizational Performance.” Strategic Management Journal 37 (2): 262–279.
   Web of Science ®Google Scholar
• Plöckinger, M., E. Aschauer, M. Hiebl, and R. Rohatschek. 2016. “The Influence of Individual Executives on Corporate Financial Reporting: A Review and Outlook from the Perspective of Upper Echelons Theory.” Journal of Accounting Literature 37: 55–75.
   Web of Science ®Google Scholar
• Porter, M. 1979. “The Structure Within Industries and Companies’ Performance.” The Review of Economics and Statistics 61 (2): 214–227.
   Web of Science ®Google Scholar
• Rodrigue, M., M. Magnan, and C. Cho. 2013. “Is Environmental Governance Substantive or Symbolic? an Empirical Investigation.” Journal of Business Ethics 114 (1): 107–129.
   Web of Science ®Google Scholar
• Sunder, J., S. Sunder, and J. Zhang. 2017. “Pilot Ceos and Corporate Innovation.” Journal of Financial Economics 123 (1): 209–224.
   Web of Science ®Google Scholar
• Wernerfelt, B. 1984. “A Resource-Based View of the Firm.” Strategic Management Journal 5 (2): 171–180.
   Web of Science ®Google Scholar
• Whadcock, I. 2008. “Do It Right: Corporate Responsibility is Largely a Matter of Enlightened Self-Interest.” Special Report. The Economist, January 19, 1–14. Accessed 20 February 2020. https://www.kornferry.com/insights/articles/190-military-experience-and-ceos-is-there-a-link
   Google Scholar
• Zuckerman, M. 2007. Sensation Seeking and Risky Behavior. Washington, DC: American Psychological Association.
   Google Scholar