Corporate executives' incentives and ESG performance
- Title
- Corporate executives' incentives and ESG performance
- Author
- 강형구
- Keywords
- Earnings management; ESG; Executive compensation; Incentives; Share pledging
- Issue Date
- 2022-10
- Publisher
- ACADEMIC PRESS INC ELSEVIER SCIENCE
- Citation
- FINANCE RESEARCH LETTERS, v. 49, article no. 103187, Page. 1-8
- Abstract
- This study investigates the effect of managers' manipulative tendencies on firms' environmental, social, and governance (ESG) performance using the share pledging and earnings management data from FY2015 to FY2020. We find that corporate executives' share pledging activities negatively affect firms' ESG performance. The effect is salient for the environmental and social but governance criteria. Furthermore, we find weak evidence for the relationship between earnings management and ESG performance. The results imply that the managers who manage earnings in order to increase their monetary income may care less about ESG performance that is not strongly aligned to their compensation.
- URI
- https://www.sciencedirect.com/science/article/pii/S1544612322003932?via%3Dihubhttps://repository.hanyang.ac.kr/handle/20.500.11754/176590
- ISSN
- 1544-6123;1544-6131
- DOI
- 10.1016/j.frl.2022.103187
- Appears in Collections:
- COLLEGE OF BUSINESS[S](경영대학) > FINANCIAL MANAGEMENT(파이낸스경영학과) > Articles
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