Home > Research > Publications & Outputs > Corporate social responsibility and insider hor...

Research

Electronic data

Links

Text available via DOI:

View graph of relations

Corporate social responsibility and insider horizon

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Published

Standard

Corporate social responsibility and insider horizon. / Shackleton, Mark; Yao, Chelsea; Zuo, Ziran.
In: Journal of Corporate Finance, Vol. 90, 102696, 28.02.2025.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Shackleton, M, Yao, C & Zuo, Z 2025, 'Corporate social responsibility and insider horizon', Journal of Corporate Finance, vol. 90, 102696. https://doi.org/10.1016/j.jcorpfin.2024.102696

APA

Shackleton, M., Yao, C., & Zuo, Z. (2025). Corporate social responsibility and insider horizon. Journal of Corporate Finance, 90, Article 102696. https://doi.org/10.1016/j.jcorpfin.2024.102696

Vancouver

Shackleton M, Yao C, Zuo Z. Corporate social responsibility and insider horizon. Journal of Corporate Finance. 2025 Feb 28;90:102696. Epub 2024 Nov 19. doi: 10.1016/j.jcorpfin.2024.102696

Author

Shackleton, Mark ; Yao, Chelsea ; Zuo, Ziran. / Corporate social responsibility and insider horizon. In: Journal of Corporate Finance. 2025 ; Vol. 90.

Bibtex

@article{c88455a8b5be4066abec3f8a27c7a56c,
title = "Corporate social responsibility and insider horizon",
abstract = "We show a positive relation between insider horizon and a firm's corporate social responsibility (CSR) performance. This positive relation is likely driven by good internal governance rather than agency problems. To support a causal interpretation, we adopt managerial career horizon reductions and the rejection of inevitable disclosure doctrine as exogenous shocks to insider horizon. We find that the observed positive effects are stronger when firms have higher ownership of long-term and socially responsible institutional investors, when insiders sign long-term compensation contracts, and when firms face less takeover pressure. We document the real effects of long-horizon insiders using various raw CSR metrics. Overall, our results indicate that insiders' long-term orientation can promote CSR.",
author = "Mark Shackleton and Chelsea Yao and Ziran Zuo",
year = "2025",
month = feb,
day = "28",
doi = "10.1016/j.jcorpfin.2024.102696",
language = "English",
volume = "90",
journal = "Journal of Corporate Finance",
issn = "0929-1199",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - Corporate social responsibility and insider horizon

AU - Shackleton, Mark

AU - Yao, Chelsea

AU - Zuo, Ziran

PY - 2025/2/28

Y1 - 2025/2/28

N2 - We show a positive relation between insider horizon and a firm's corporate social responsibility (CSR) performance. This positive relation is likely driven by good internal governance rather than agency problems. To support a causal interpretation, we adopt managerial career horizon reductions and the rejection of inevitable disclosure doctrine as exogenous shocks to insider horizon. We find that the observed positive effects are stronger when firms have higher ownership of long-term and socially responsible institutional investors, when insiders sign long-term compensation contracts, and when firms face less takeover pressure. We document the real effects of long-horizon insiders using various raw CSR metrics. Overall, our results indicate that insiders' long-term orientation can promote CSR.

AB - We show a positive relation between insider horizon and a firm's corporate social responsibility (CSR) performance. This positive relation is likely driven by good internal governance rather than agency problems. To support a causal interpretation, we adopt managerial career horizon reductions and the rejection of inevitable disclosure doctrine as exogenous shocks to insider horizon. We find that the observed positive effects are stronger when firms have higher ownership of long-term and socially responsible institutional investors, when insiders sign long-term compensation contracts, and when firms face less takeover pressure. We document the real effects of long-horizon insiders using various raw CSR metrics. Overall, our results indicate that insiders' long-term orientation can promote CSR.

U2 - 10.1016/j.jcorpfin.2024.102696

DO - 10.1016/j.jcorpfin.2024.102696

M3 - Journal article

VL - 90

JO - Journal of Corporate Finance

JF - Journal of Corporate Finance

SN - 0929-1199

M1 - 102696

ER -