The CEO as chief political officer: Managerial discretion and corporate political activity

被引：57
|
作者：
Hadani, Michael [1 ]
Dahan, Nicolas M. [2 ]
Doh, Jonathan P. [3 ]
机构：
[1] St Marys Coll Calif, Sch Business & Econ, Moraga, CA 94556 USA
[2] Temple Univ, Fox Sch Business, Philadelphia, PA 19122 USA
[3] Villanova Univ, Villanova Sch Business, Villanova, PA 19085 USA
来源：
JOURNAL OF BUSINESS RESEARCH | 2015年 / 68卷 / 11期
关键词：
Corporate political activity; CEO discretion; Firm performance; Agency theory; Stewardship; Corporate governance; FIRM PERFORMANCE; MODERATING ROLE; AGENCY THEORY; STRATEGY; TENURE; DIRECTORS; BOARDS; POWER; GOVERNANCE; SENIORITY;
D O I：
10.1016/j.jbusres.2015.03.046
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Corporate political activity (CPA) is an important nonmarket strategy aimed at advancing a firm's interests by influencing public policy. Yet studies report mixed results as to the impact of CPA on firm outcomes. Building on recent extant research we suggest that one reason for the ambivalent evidence regarding the impact of CPA on firm performance is the moderating role of CEO discretion on the CPA-firm performance relationship. In a longitudinal study of S&P 1000 firms over 10 years, we test competing perspectives regarding the moderating impact of CEO discretion on the CPA-corporate performance relationship. We find that some aspects of CEO discretion, in particular CEO duality, moderate the relationship between CPA and performance. The findings provide some support for an agency view of the impact of CEO discretion the CPA-performance relationships, which carry implications for both scholarship and regulation in the areas of CPA and corporate governance. (C) 2015 Elsevier Inc. All rights reserved.
引用
收藏
页码：2330 / 2337
页数：8
相关论文
共 50 条
  • [31] Corporate Education and the Role of the Chief Learning Officer
    Hourneaux Junior, Flavio
    Eboli, Marisa Pereira
    Martins, Eduardo Caruso
    RBGN-REVISTA BRASILEIRA DE GESTAO DE NEGOCIOS, 2008, 10 (27): : 105 - 117
  • [32] The occupational physician as corporate chief health officer
    Sperry, L
    OCCUPATIONAL MEDICINE-STATE OF THE ART REVIEWS, 1996, 11 (04): : 663 - 668
  • [33] The Liability of Tribe in Corporate Political Activity: Ethical Implications for Political Contestability
    Tahiru Azaaviele Liedong
    Journal of Business Ethics, 2022, 181 : 623 - 644
  • [34] The Liability of Tribe in Corporate Political Activity: Ethical Implications for Political Contestability
    Liedong, Tahiru Azaaviele
    JOURNAL OF BUSINESS ETHICS, 2022, 181 (03) : 623 - 644
  • [35] Chief Executive Officer (CEO) and corporate environmental sustainability: A systematic literature review and avenues for future research
    Mahran, Karim
    Elamer, Ahmed A.
    BUSINESS STRATEGY AND THE ENVIRONMENT, 2024, 33 (03) : 1977 - 2003
  • [36] Dispositional Sources of Managerial Discretion: CEO Ideology, CEO Personality, and Firm Strategies
    Gupta, Abhinav
    Nadkarni, Sucheta
    Mariam, Misha
    ADMINISTRATIVE SCIENCE QUARTERLY, 2019, 64 (04) : 855 - 893
  • [37] Corruption, political discretion and entrepreneurship
    Jimenez, Alfredo
    Alon, Ilan
    MULTINATIONAL BUSINESS REVIEW, 2018, 26 (02) : 111 - 125
  • [38] Top management teams and corporate political activity: Do top management teams have influence on corporate political activity?
    Ozer, Mine
    JOURNAL OF BUSINESS RESEARCH, 2010, 63 (11) : 1196 - 1201
  • [39] Effect of Managerial Discretion on CEO Pay-performance Sensitivity
    Zhang, Changzheng
    Xie, Jie
    Zhang, Genlin
    ADVANCES IN BUSINESS INTELLIGENCE AND FINANCIAL ENGINEERING, 2008, 5 : 700 - +
  • [40] Corporate social responsibility and corporate reputation: the moderating roles of CEO and state political ideologies
    Xu, Le
    Zhao, Yue
    Wang, Chen
    Ponnapalli, Ajay Rama
    SOCIAL RESPONSIBILITY JOURNAL, 2022, 18 (03) : 501 - 517
12345