Sammanfattning
We investigate whether CEOs are more likely to be replaced position following incidences related to Environmental, Social, and Governance (ESG) events. Utilizing a sample of large European firms, which allows us to consider covariates at individual-, firm-, industry-, and country-levels, we find that ESG-related news has a statistically and economically significant and robust impact on CEO turnover. The impact is proportional to the severity of an event. Consistent with prior literature, we find some evidence that common-law countries rely more on market-based (ex post) penalties to CEOs to deter stakeholder-related ESG misconduct than civil-law countries.
| Originalspråk | Engelska |
|---|---|
| Titel på värdpublikation | Proceedings of Paris December 2020 Finance Meeting EUROFIDAI - ESSEC |
| Utgivningsdatum | 2020 |
| DOI | |
| Status | Publicerad - 2020 |
| MoE-publikationstyp | A4 Artikel i en konferenspublikation |
Publikationsserier
| Namn | SSRN Working Paper Series |
|---|---|
| Förlag | Social Science Research Network |
Nyckelord
- 512 Företagsekonomi
Styrkeområden och områden med hög potential (AoS och AoHP)
- AoS: Finansiering, redovisning och företagsstyrning
FN:s SDG:er
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