Skip to main content
main-content

Tipp

Weitere Artikel dieser Ausgabe durch Wischen aufrufen

29.04.2016 | Ausgabe 4/2018

Journal of Business Ethics 4/2018

The Effect of CEOs’ Turnover on the Corporate Sustainability Performance of French Firms

Zeitschrift:
Journal of Business Ethics > Ausgabe 4/2018
Autoren:
Yohan Bernard, Laurence Godard, Mohamed Zouaoui
Wichtige Hinweise
In our empirical study, the data for the dependant variable were supplied by Vigeo, a French extra-financial rating firm specializing in assessing companies’ CSP. We undertook all necessary steps to guarantee the confidentiality of these data. We did not use these data for business aims.
We are aware of the contents and consent to the use of our names as authors of manuscript entitled “The effect of CEOs’ turnover on the Corporate Sustainability Performance of French firms” that is to be considered for publication in the Journal of Business Ethics. We understand that the staff of the Journal will make every effort to keep such information confidential during the editorial review process. We also understand that if the manuscript is accepted, you will discuss with us the manner in which such information is to be communicated to the reader. We hereby grant permission for any such information, to be included with publication of the manuscript in the Journal of Business Ethics.

Abstract

This paper examines the relationship between turnover among chief executive officers (CEOs) and corporate sustainability performance (CSP) by identifying the influence of two major types of succession to the top job (internal or external promotion) and the reasons for change. Our model also integrates the firm’s past prioritization of CSP and the impact of a company’s participation in the Global Reporting Initiative (GRI). Upper echelons theory and agency theory frameworks are adopted to understand CSP. Using an analysis of panel data for 88 public companies across 13 years in France, we find that a change of chief executive has a positive and significant effect on CSP 5 years after the change. This positive effect is stronger when the new CEO is recruited from outside the firm. The impact on CSP is invariably positive and significant, except for voluntary departures. The arrival of a new CEO affects CSP less when the firm has already achieved a high standard of CSP and participates in the GRI. These results are obtained after controlling CSP determinants already validated in the literature (financial performance, size, profitability, etc.). The findings show that expectations of CEOs are not solely economic and financial but also concern CSP. In terms of governance, they should prompt shareholders looking to strengthen CSP to choose new CEOs from outside the firm and to encourage the firm to participate in the GRI.

Bitte loggen Sie sich ein, um Zugang zu diesem Inhalt zu erhalten

Sie möchten Zugang zu diesem Inhalt erhalten? Dann informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 69.000 Bücher
  • über 500 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Umwelt
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Testen Sie jetzt 30 Tage kostenlos.

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 58.000 Bücher
  • über 300 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Testen Sie jetzt 30 Tage kostenlos.

Literatur
Über diesen Artikel

Weitere Artikel der Ausgabe 4/2018

Journal of Business Ethics 4/2018 Zur Ausgabe

Premium Partner

    Bildnachweise