LABOR MARKET EVALUATION VERSUS LEGACY CONSERVATION: WHAT FACTORS DETERMINE RETIRING CEOs' DECISIONS ABOUT LONG-TERM INVESTMENT?

Kang Jingoo

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LABOR MARKET EVALUATION VERSUS LEGACY CONSERVATION: WHAT FACTORS DETERMINE RETIRING CEOs' DECISIONS ABOUT LONG-TERM INVESTMENT?

机译：劳动力市场评估与保留遗产的关系：是什么因素决定了首席执行官对长期投资的决定？

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Do CEOs nearing retirement attempt to boost short-term firm performance or do they care more about what type of legacy they will leave behind? The two opposing predictions about the behavior of CEOs upon retirement suggest that retiring CEOs' decisions about certain long-term investment items may be more complex than suggested in the literature. In search of an answer to this question, we examine the relationship between CEO retirement and the level of firm commitment to corporate social responsibility (CSR). The results show that CEO retirement has a negative effect on firm commitment to CSR. However, we found that the negative effect becomes weaker when CEOs retire at relatively older ages or are retained on the board of directors of their own firms. Our finding suggests that CEOs who face weaker pressure from the labor market for corporate directors may pay more attention to preserving their legacy. Copyright (C) 2014 John Wiley & Sons, Ltd.

机译：即将退休的首席执行官是否会尝试提高短期公司绩效，还是更在乎会留下什么样的遗产？关于首席执行官退休后的行为的两个相反的预测表明，退休首席执行官对某些长期投资项目的决定可能比文献中所建议的更为复杂。在寻找这个问题的答案时，我们研究了CEO退休与企业对企业社会责任（CSR）承诺水平之间的关系。结果表明，首席执行官退休对企业履行社会责任的承诺有负面影响。但是，我们发现，当首席执行官退休年龄相对较大或被保留在自己公司的董事会中时，负面影响会减弱。我们的发现表明，面临劳动力市场对公司董事的压力较小的首席执行官可能会更加注意保留他们的遗产。版权所有（C）2014 John Wiley＆Sons，Ltd.

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来源
《Strategic Management Journal》 |2016年第2期|389-405|共17页
作者
Kang Jingoo;
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作者单位

Nanyang Technol Univ, Nanyang Business Sch, S3-01C-89,Nanyang Ave, Singapore 639798, Singapore|Korea Univ, Korea Univ Business Sch, Seoul, South Korea;

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收录信息美国《科学引文索引》(SCI);美国《工程索引》(EI);
原文格式 PDF
正文语种 eng
中图分类
关键词
managerial decision-making; corporate social performance; labor market evaluation; legacy conservation; long-term investment;

机译：管理决策;企业社会绩效;劳动力市场评估;遗产保护;长期投资;

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LABOR MARKET EVALUATION VERSUS LEGACY CONSERVATION: WHAT FACTORS DETERMINE RETIRING CEOs' DECISIONS ABOUT LONG-TERM INVESTMENT?

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