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Are better-connected CEOs more socially responsible? Evidence from the U.S. restaurant industry

Chen, J, Ko, S.I.M., Li, L.S.Z., Yang, F.X. (2021) Are better-connected CEOs more socially responsible? Evidence from the U.S. restaurant industry. Tourism Management, 85 . Article Number 104304. ISSN 0261-5177. (doi:10.1016/j.tourman.2021.104304) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:102020)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. (Contact us about this Publication)
Official URL:
https://dx.doi.org/10.1016/j.tourman.2021.104304

Abstract

Extensive research has documented how corporate social responsibility (CSR) outcomes are determined by CEOs' intrinsic characteristics, while their social network status has been under-researched. Building on impression management theory and resource-based theory, the current study analyzes the association between CSR activities and top management's position in the social hierarchy, i.e., network centrality. The heterogeneous effects across different restaurant and CSR types are examined based on stakeholder theory. Using a panel dataset of publicly traded U.S. restaurant companies and a novel dataset of CEO network centrality, we find that firms with highly connected CEOs are involved in more socially responsible activities. In addition, the marginal effect of network centrality on CSR is stronger for fast-food than for full-service restaurants and more prominent for external than internal stakeholder subcategories. The results advance the determinant analysis of CSR and provide managerial implications for CEO selection and policy suggestions on CSR promotion. © 2021 Elsevier Ltd

Item Type: Article
DOI/Identification number: 10.1016/j.tourman.2021.104304
Uncontrolled keywords: corporate social responsibility; industrial practice; panel data; service sector; social network; stakeholder; theoretical study, United States
Subjects: H Social Sciences > HF Commerce > HF5351 Business
H Social Sciences > HG Finance
Divisions: Divisions > Kent Business School - Division > Department of Accounting and Finance
Funders: National Natural Science Foundation of China (https://ror.org/01h0zpd94)
Depositing User: Jean Chen
Date Deposited: 10 Jul 2023 10:19 UTC
Last Modified: 04 Mar 2024 17:08 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/102020 (The current URI for this page, for reference purposes)

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