高管团队特征如何塑造企业ESG的表现

On the Impact of Executive Team Characteristics on Corporate ESG Performance

选取A股上市公司2011—2020年的数据作为样本,考察了高管团队特征对企业环境(Environment)、社会(Social)、和公司治理(Governance)表现的影响。研究结果表明,高管团队的海外和学术背景分别对企业的ESG表现具有正向影响,而财务背景对企业ESG表现具有负面影响;高管薪酬差距在高管团队特征对企业ESG表现的影响中发挥了调节作用。进一步分析发现,国有企业中高管海外背景对ESG影响的促进作用更大,非国有企业中高管的学术和财务背景对ESG的影响效应更为明显。这为企业吸引不同背景人才以提高ESG表现提供了参考。

Using data from A-share listed companies from 2011 to 2020 as samples,this study examines the impact of executive team characteristics on corporate performance in terms of environmental,social,and governance(ESG).The research findings are as follows:(1)the overseas and academic backgrounds of the executive team have a positive influence on the corporate ESG performance,while their financial backgrounds have a negative one;(2)the gap in executive compensation plays a moderating role in the influence of executive team characteristics on corporate ESG performance.Further analysis reveals that executives'overseas backgrounds of in state-owned enterprises has a more positive influence on ESG,while the academic and financial backgrounds of executives in non-state-owned enterprises have a more obvious influence on ESG.This study provides a reference for companies seeking to attract talents from diverse backgrounds to improve their ESG performance.