CEO自信程度、产权性质与企业社会责任履行

CEO's confidence level,nature of property rights and the performance of corporate social responsibility

本文以沪深两市上市公司为研究对象,采用2013-2017年的面板数据,从CEO人口特征、投资行为、公司治理、胜任力四个方面出发,运用因子分析法构建CEO自信程度评价体系,得出各个企业的CEO自信程度综合得分,以此作为CEO自信程度的衡量指标,进一步探讨CEO自信程度对企业社会责任的影响。基于相关数据的实证结果显示,CEO自信程度与承担企业社会责任呈倒U型关系;进一步分析发现,不同产权性质企业的CEO自信程度对承担社会责任的影响存在差异,与国有企业相比,非国有企业CEO自信程度对社会责任的影响更明显;国有产权性质弱化了两者之间的倒U型关系,使CEO自信程度对社会责任呈正相关关系。从行为学和心理学的研究领域出发,进一步丰富了管理层心理特征与社会责任的相关研究,对企业更好地履行社会责任具有指导意义。

Taking Shanghai and Shenzhen listed companies as research objects,this paper explores the impact of CEO’s confidence level on corporate social responsibility based on the data from 2013 to 2017.The CEO’s confidence level was measured from the view of CEO’s demographic characteristics,investment behavior,corporate governance,and competency.The factor analysis method was used to construct the CEO confidence evaluation system,to obtain the comprehensive score of CEO’s confidence level,which was used as a measurement index of the CEO’s confidence level in the paper.The empirical results based on relevant data indicate that the CEO’s confidence level has a U-shaped relationship with corporate social responsibility. Further analysis shows that the confidence level of CEOs of different property rights has different influences on social responsibility. Compared with those of state-owned enterprises,the confidence level of CEOs of non state-owned enterprise has a greater impact on social responsibility. The nature of state-owned property rights weakens the U-shaped relationship between the two,which makes the CEO’s confidence level be positively related to social responsibility.