Abstract
Corporate executives managing some of the largest public companies in the U.S. are shaped by their daughters. When a firm’s chief executive officer (CEO) has a daughter, the corporate social responsibility rating (CSR) is about 9.1% higher, compared to a median firm. The results are robust to confronting several sources of endogeneity, e.g., examining first-born CEO daughters and CEO changes. The relation is strongest for diversity, but significant also for broader pro-social practices related to the environment and employee relations. Our study contributes to research on female socialization, heterogeneity in CSR policies, and plausibly exogenous determinants of CEOs’ styles.
| Original language | English |
|---|---|
| Pages (from-to) | 543-562 |
| Journal | Journal of Financial Economics |
| Volume | 126 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 2017 |
Corresponding author email
hcronqvist@bus.miami.edu, fyu@ceibs.eduKeywords
- CEOs
- Corporate social responsibility
- Family environment
- Female socialization
Indexed by
- FT
- ABDC-A*
- Scopus
- SSCI
Fingerprint
Dive into the research topics of 'Shaped by their daughters: Executives, female socialization, and corporate social responsibility'. Together they form a unique fingerprint.Cite this
Cronqvist, H., & Yu, F. (2017). Shaped by their daughters: Executives, female socialization, and corporate social responsibility. Journal of Financial Economics, 126(3), 543-562. https://doi.org/10.1016/j.jfineco.2017.09.003