Footnote:
In: Journal of Financial Economics (JFE), 2017
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 3, 2017 erstellt
Description:
Corporate executives managing some of the largest public companies in the U.S. are shaped by their daughters. When a firm's CEO has a daughter, the corporate social responsibility rating 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