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Corporate executives' incentives and ESG performance
Cited 33 time in
Web of Science
Cited 34 time in Scopus
- Authors
- Issue Date
- 2022-10
- Publisher
- Elsevier BV
- Citation
- Finance Research Letters, Vol.49, p. 103187
- 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.
- ISSN
- 1544-6123
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