Executive's Poverty Experience, Characteristics and Coporate Targeted Poverty Alleviation

PDF(1374 KB)

Journal of Central University of Finance & Economics ›› 2022, Vol. 0 ›› Issue (12) : 54-70.

DOU Xiao-chen, WANG Yu-lan, LIU Xi-peng

Author information +

History +

Abstract

Taking China listed companies from 2016 to 2019 as research samples, this paper tests whether the poverty experience of the executives affects targeted poverty alleviation of this company from the micro-enterprise level.Results show that listed companies whose executives grew up in poor areas have more willingness and efforts to carry out targeted poverty alleviation.In the further test of the influence of executive's personal characteristics, it is found that the listed company whose executives are female or members of CPC or elderly have more willingness and efforts to carry out targeted poverty alleviation.These conclusions are still valid after a series of robust tests.In addition, this paper shows that in state-owned enterprises and private enterprises with political connection, the poverty experience of executives plays a more significant role in promoting targeted poverty alleviation of enterprises.This paper provides a strong theoretical basis and policy reference to the understanding and assessment of listed companies' targeted poverty alleviation and support the ultimate triumph of fighting against poverty.

Key words

Poverty experience of executive / Personal characteristics / Targeted poverty alleviation

Cite this article

EndNote

Ris (Procite)

Bibtex

Download Citations

DOU Xiao-chen, WANG Yu-lan, LIU Xi-peng. Executive's Poverty Experience, Characteristics and Coporate Targeted Poverty Alleviation[J]. Journal of Central University of Finance & Economics, 2022, 0(12): 54-70

References

[1] 山立威, 甘犁, 郑涛.公司捐款与经济动机——汶川地震后中国上市公司捐款的实证研究[J].经济研究, 2008(11):51-61.
[2] 方军雄.捐赠,赢得市场掌声吗？[J].经济管理, 2009(7):172-176.
[3] 徐莉萍, 辛宇, 祝继高.媒体关注与上市公司社会责任之履行——基于汶川地震捐款的实证研究[J].管理世界, 2011(3):135-143.
[4] 张敏, 马黎珺, 张雯.企业慈善捐赠的政企纽带效应——基于我国上市公司的经验证据[J].管理世界, 2013(7):163-171.
[5] 张建君.竞争-承诺-服从:中国企业慈善捐款的动机[J].管理世界, 2013(9): 118-129.
[6] Cahan S F, Chen C, Chen L N, Nguyen H.Corporate Social Responsibility and Media Coverage[J].Journal of Banking & Finance, 2015(59): 409-422.
[7] Lin K J, Tan J, Zhao L,Karim K.In the Name of Charity: Political Connections and Strategic Corporate Social Responsibility in a Transition Economy[J].Journal of Corporate Finance, 2015,32: 327-346.
[8] 傅超, 吉利.诉讼风险与公司慈善捐赠——基于“声誉保险”视角的解释[J].南开管理评论, 2017(2):108-121.
[9] 许年行, 李哲.高管贫困经历与企业慈善捐赠[J].经济研究, 2016(12):133-146.
[10] Moon J, Shen X.CSR in China Research: Salience, Focus and Nature[J].Journal of Business Ethics,2010(94): 613-629.
[11] Cho C H, Guidry R P, Hageman A M.Do Actions Speak Louder than Words? An Empirical Investigation of Corporate Environmental Reputation[J].Accounting, Organizations and Society, 2012,37(1):14-25.
[12] 朱金凤, 杨鹏鹏.公司慈善行为提升企业价值吗？——基于面板数据模型的实证研究[J].经济管理, 2011(12):52-59.
[13] 周浩, 汤丽荣.市场竞争能倒逼企业善待员工吗？——来自制造业企业的微观证据[J].管理世界, 2015(11):135-144.
[14] 靳小翠.企业文化会影响企业社会责任吗？——来自中国沪市上市公司的经验证据[J].会计研究, 2017(2):56-62.
[15] Malmendier U, Geoffrey T, Jonathan Y.Overconfidence and Early Life Experiences: The Effect of Managerial Traits on Corporate Financial Policies[J].Journal of Finance, 2011(66): 1687-1733.
[16] Benmelech E, Frydman C.Military CEOs[J].Journal of Financial Economics, 2015(117): 43-59.
[17] 王士红.所有权性质、高管背景特征与企业社会责任披露[J].会计研究,2016(11): 53-61.
[18] 王波.高管影响力、贫困经历与企业社会责任[D].成都:西南交通大学,2018.
[19] Graham J, Harvey, Puri M.Capital Allocation and Delegation of Decision Making Authority Within Firms[J].Journal of Financial Economics,2015(115):449-470.
[20] Steven F C, Chen C,Chen L.Corporate Social Responsibility and Media Coverage[J].Journal of Banking & Finance,2015(59):409-422.
[21] Carpenter M A, Geletkanycz M A, Sanders W G.Upper Echelons Research Revisited: Antecedents, Elements, and Consequences of Top Management Team Composition[J].Journal of Management,2004,30(6):749-778.
[22] 王雪莉, 马琳, 王艳丽.高管团队职能背景对企业绩效的影响:以中国信息技术行业上市公司为例[J].南开管理评论, 2013(4):80-93.
[23] Hwang B, Kim S.It Pays to Have Friends[J].Journal of Financial Economics, 2009(93): 138-158.
[24] 唐松,孙铮.政治关联、高管薪酬与企业未来经营绩效[J].管理世界, 2014(5):93-105.
[25] Chang C, Wong S M L.Governance with Multiple Objectives: Evidence from Top Executive Turnover in China[J].Journal of Corporate Finance, 2009(15):230-244.
[26] 刘青松, 肖星.败也业绩,成也业绩？——国企高管变更的实证研究[J].管理世界, 2015(3):151-163.
[27] Hambrick D C,Mason P A.Upper Echelons:The Organization as a Reflection of Its Top Managers[J].Academy of Management Review,1984,9(2):193-206.
[28] Batson J, Slingsby J K.Empathic Joy and the Empathy Altruism Hypothesis[J].Journal of Personality and Social Psychology,1991,61(4):13-26.
[29] Carpenter, Fredrickson.Management Teams, Global Strategic Posture, and the Moderating Role of Uncertainty[J].Academy of Management Journal,2001, 44(3):533-545.
[30] Barker V L, Mueller G C.CEO Characteristics and Firm R&D Spending[J].Management Science, 2002, 48(6):782-801.
[31] Ullmann A A.Data in Search of a Theory: A Critical Examination of the Relationships Among Social Performance, Social Disclosure, and Economic Performance of U.S.Firms[J].Academy of Management Review, 1985,10(3):540-557.
[32] 辛杰, 吴创.企业家文化价值观对企业社会责任的影响机制研究[J].中南财经政法大学学报,2015(1):105-115.
[33] Holman E A, Silver R C.Getting“Stuck” in the Past: Temporal Orientation and Coping with Trauma[J].Journal of Personality and Social Psychology,1998,74(5):1146-1163.
[34] Hahn A, Gawronski B.Implicit Social Cognition[J].International Encyclopedia of the Social and Behavioral Sciences, 2015(17):714-720.
[35] Malmendier U, Tate G A.Overconfidence and Early Life Experiences: The Effect of Managerial Traits on Corporate Financial Policies[J].Journal of Finance,2011(66):1687-1733.
[36] Bantel K A, Jackson S E.Top Management and Innovations in Banking Does the Composition of the Top Team Make a Difference[J].Strategic Management Journal, 1989, 10(2):107-124.
[37] Hambrick D C.Fragmentation and the Other Problems CEOs Have with Their Top Management Teams[J].California Management Review, 1995(37):110-127.
[38] Simsek Z.CEO Tenure and Organizational Performance: An Intervening Model[J].Strategic Management Journal, 2007(28):653-662.
[39] Boone C, Van Olffen W, Van Witteloostuijin A, De Brabander B.The Genesis of Top Management Team Diversity: Selective Turnover among Top Management Teams in Dutch[J].Academy of Management Journal,2004(47):633-656.
[40] Preston D S, Karahanna E, Rowe F.Development of Shared Understanding Between the Chief Information Officer and Top Management Team in U.S.and French Organizations: A Cross-Cultural Comparison[J].Transactions on Engineering Management, 2006(53):191-206.
[41] Kohlberg M.On the Strategic Stability of Equilibria[J].Econometrica, 1986, 54(5): 1003-1037.
[42] 何威风, 刘启亮.我国上市公司高管背景特征与财务重述行为研究[J].管理世界, 2010(7):144-155.
[43] Krishna U.Corporate Social Responsibility and Firm Size[J].Journal of Business Ethics, 2008(83):167-175.
[44] 郑冠群, 宋林, 郝渊晓.高管层特征、策略性行为与企业社会责任信息披露质量[J].经济经纬, 2015(2): 111-116.
[45] Eagly A H, Johannesen-Schmidt M C, Van Engen M L.Transformational, Transactional, and Laissez-Faire Leadership Styles: A Meta-Analysis Comparing Women and Men[J].Psychological Bulletin, 2003,129 (4) :569-591.
[46] Dezsg C L, Ross D G.Does Female Representation in Top Management Improve Firm Performance?A Panel Data Investigation[J].Strategic Management Journal, 2012, 33(9) : 1072-1089.
[47] 任颋, 王峥.女性参与高管团队对企业绩效的影响:基于中国民营企业的实证研究[J].南开管理评论, 2010(5):81-91.
[48] Manner M H.The Impact of CEO Characteristics on Corporate Social Performance[J].Journal of Business Ethics, 2010(93):53-72.
[49] Harjoto M, Laksmana I, Lee R.Board Diversity and Corporate Social Responsibility[J].Journal of Business Ethics,2015,132(4):641-660.
[50] Gul F A, Srinidhi B, Ng A C.Does Board Gender Diversity Improve the Informativeness of Stock Prices?[J].Journal of Accounting and Economics,2011,51(3):314-338.
[51] Adams R B, Ferreira D.Women in the Boardroom and Their Impact on Governance and Performance[J].Journal of Financial Economics, 2009,94(2):291-309.
[52] 杜兴强,冯文滔.女性高管、制度环境与慈善捐赠[J].经济管理,2012(11):53-63.
[53] Fernandez-Feijoo B, Romero S, Ruiz S.Does Board Gender Composition Affect Corporate Social Responsibility Reporting?[J].International Journal of Business and Social Science, 2012, 3(1):31-38.
[54] Hutton I, Jiang D, Kumar A.Corporate Policies of Republican Managers[J].Journal of Financial and Quantitative Analysis, 2014,49 (5) :1279-1310.
[55] Francis B B, Hasan I, Sun X, et al.CEO Political Preference and Corporate Tax Sheltering[J].Journal of Corporate Finance, 2016(38):37-53.
[56] 李焰, 王琳.媒体监督、声誉共同体与投资者保护[J].管理世界,2013(11):130-143.
[57] Layman G.The Great Divide: Religious and Cultural Conflict in American Party Politics[J].Journal of Religion, 2001,69(2):483-484.
[58] 周怡, 胡安.有信仰的资本——温州民营企业主慈善捐赠行为研究[J].社会学研究,2014(1):57-81.
[59] 梁建, 陈爽英, 盖庆恩.民营企业的政治参与、治理结构与慈善捐赠[J].管理世界, 2010(7):109-118.
[60] 杨丽娇, 赵立彬.高管党员身份影响企业履行精准扶贫吗？[J].生产力研究, 2019(2):100-105.
[61] Elder G, Gimbel C.Turning Points in Life: The Case of Military Service and War[J].Military Psychology, 1991(3): 215-231.
[62] Hulme D, Shepherd A.Conceptualizing Chronic Poverty[J].World Development, 2003, 31(3):403-423.
[63] 张建君, 张志学.中国民营企业家的政治战略[J].管理世界, 2005(7):94-105.
[64] Brammer S, Pavelin S.Voluntary Social Disclosures by Large UK Companies[J].Business Ethics A European Review, 2004, 13(2):86-99.
[65] Zhang R, Zhu J, Yue H, Zhu C.Corporate Philanthropic Giving, Advertising Intensity, and Industry Competition Level[J].Journal of Business Ethics, 2010(94):39-52.
[66] 高勇强,何晓斌,李路.民营企业家社会身份、经济条件与企业慈善捐赠[J].经济研究, 2011(12):111-123.