Impact of executive attributes on corporate social responsibility: A comparative study

• Published in: Hungarian statistical review 2024, Vol.7 (1), p.63-88
• Main Authors: Mashne, Loma, Szalay, Márk, Buics, László
• Format: Article
• Language: English
• ISSN: 2630-9130
• DOI: 10.35618/hsr2024.01.en063

This study, grounded in the principles of the upper echelons theory, aims to assess how the socio-demographic attributes of chief executive officers (CEOs) and the legal systems of their operating countries impact corporate social responsibility (CSR) and corporate performance. In addition, this study seeks to establish a profile of CEO attributes associated with high CSR performance among the world’s best-performing corporations. The empirical analysis is based on a 5-year dataset sample of the top 100 CEOs globally, provided by Harvard Business Review for the years 2015 to 2019. The examined attributes include age, gender, tenure, engineering degree, MBA study, employment type and the legal system of the country where the CEO is operating, all in relation to CSR and corporate performance. Our empirical analysis indicates that CEOs’ age, gender and tenure positively influence CSR and corporate performance. The average CEO age is 60 years, with the majority being male and having a significant tenure ranging from 12 to 15 years. Furthermore, the analysis suggests that engineering and MBA studies do not substantially influence CSR and corporate performance. Insider CEOs also show a positive impact on CSR and corporate performance. The prevalent legal system, according to our analysis, is the common law, with the United States having the highest representation. Moreover, based on our further analysis, a suggested profile of CEOs’ attributes includes internally appointed male CEOs in their early sixties who do not necessarily hold an engineering or MBA degree. The distinctive aspect of this study lies in its multi-attribute approach and the offering of a CEO profile associated with high CSR and corporate performance. This approach opens avenues for future CSR research and exploration.