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CEO overconfidence and CSR decoupling

机译：首席执行官过度安全和CSR去耦

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摘要

Research question/issueThis study examines whether there is decoupling between how firms communicate about corporate social responsibility (CSR) and what firms do in terms of CSR. We argue that this CSR decoupling is driven by the CEOs' cognitive biases. Specifically, we propose that overconfident CEOs increase CSR decoupling.Research findings/insightsWe tested our arguments in a sample of S&P 500 firms for the period of 20062014. We find that CEO overconfidence is positively related to the decoupling between the optimistic tone of CSR reporting and the firm's actual corporate social performance. However, the board of directors mitigates the effect of CEO overconfidence on CSR decoupling when outside directors have CSR expertise and ownership incentives.Theoretical/academic implicationsPrevious studies have suggested that CSR decoupling is a function of opportunistic management that can be constrained by external monitoring. We examine CSR decoupling as a function of cognitive biases (such as overconfidence) that can be constrained by internal monitoring.Practitioner/policy implicationsThis study provides insights into the conditions when CSR information released by the firm is symbolic. Practitioners may prevent such symbolic CSR reporting by imposing effective oversight by the board of directors.
机译：研究问题/ Issuethis研究审查了公司如何在公司社会责任（CSR）与企业社会责任（CSR）与CSR方面进行沟通之间的耦合。我们认为，这种CSR解耦是由CEO的认知偏见驱动的。具体而言，我们提出过度自信的首席执行官增加CSR Decoupling.Research发现/ Insightswe在20062014年期间测试了我们在标准普尔500亿公司的样本中的论据。我们发现CEO过度信心与CSR报告的乐观口气之间的解耦与耦合有关。该公司的实际企业社会绩效。然而，董事会在外部董事拥有CSR专业知识和所有权激励措施时，董事会减轻了CEO对CSR去耦的影响。理论/学术含义Pruvious的研究表明，CSR去耦是机会主义管理的函数，可以受到外部监测的限制。我们将CSR解耦作为可以受到内部监测的认知偏差（如过度信息）的函数.Practitioner /政策致命的旨在为公司发布的CSR信息符号时，研究提供了洞察力。从业者可以通过董事会施加有效监督，防止这种象征性的CSR报告。

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