The effects of corporate governance and institutional ownership types on corporate social performance

• 成果类型: Article
• 署名作者: Johnson, RA; Greening, DW
• 署名单位: University of Missouri System; University of Missouri Columbia
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/256977
• 发表日期: 1999
• 页码: 564-576
• 关键词: ORGANIZATIONAL ATTRACTIVENESS; SHAREHOLDER ACTIVISM; Firm innovation; investors; DIRECTORS; incentives; boards; environment; intensity; strategy

摘要

The effects of institutional investor types and governance devices on two dimensions of corporate social performance (CSP) were examined. Pension fund equity was positively related to both a people (women and minorities, community, and employee relations) and a product quality (product and environment) dimension of CSP, but mutual and investment bank funds exhibited no direct relationship with CSP. Outside director representation was positively related to both CSP dimensions. Top management equity was positively related to the product quality dimension but unrelated to the people dimension of CSP.