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This paper aims to examine the impact of chief executive officer (CEO) attributes on foreign shareholdings from the perspective of an emerging economy.

This study examined Bombay Stock Exchange listed firms from the Indian stock market and applied a balanced panel data approach with fixed effect estimation technique during the period 2010–2019.

The study shows that CEOs’ financial education and a higher level of education positively affect foreign shareholdings. The age and experience of CEO have a positive and significant impact on foreign shareholdings. Firms with male CEOs are preferred more by foreign investors. The effect of CEO busyness and CEO duality is negative on foreign shareholdings. Foreign investors prefer to invest in firms with foreign nationality CEOs. Furthermore, the robustness test reveals that the influence of CEO attributes on foreign shareholdings is stronger for new, small and stand-alone firms than for old, large and group-affiliated firms.

The study will be beneficial for a diverse audience ranging from firms’ board of directors, regulators and policymakers who are entrusted with the CEO recruitment process. Additionally, firms seeking external financing should disclose CEO information adequately and improve the reporting quality to attract foreign investors, as they consider CEO characteristics as a valuable signal before making investment decisions.

In light of the current legislative reforms, this study can be recognized as one of the early studies that explore the relationship between CEO attributes and foreign shareholdings in the context of an emerging economy.

Documents evidence on the interdependence between the mechanisms used to control the agency costs in Turkish manufacturing firms where the external control devices are restricted and most of the firms have concentrated ownership. The ownership concentration, board size and composition, managerial shareholdings, institutional shareholdings, and family shareholdings are the selected devices. Evidence reveals that the proportion of insiders on the board is positively related to the percentage of family shareholdings and negatively related to the percentage of foreign institutional shareholdings and ownership concentration. Board size shows a significant negative relation with all the control mechanisms except the debt ratio. The finding that the managerially controlled firms have lower debt ratio than the institutionally controlled firms and the family controlled firms supports the entrenchment hypothesis. The capital market seems to complement the institutional shareholdings, family shareholdings, and ownership concentration in monitoring the CEOs.

Despite increased research attention to management innovation, the literature offers conflicting explanations of how it affects firm performance. The rational perspective emphasises the role of management innovation for organisational routine updating. The fashion perspective views management innovation as a symbolic activity to foster legitimacy. The purpose of this study is to integrate the two perspectives and explore both the mediating effects of organisational efficiency and business legitimacy and the moderating effect of CEO shareholding.

Based on empirical data from 238 Chinese firms, this study conducts stepwise regression to test the hypotheses.

This study finds that management innovation positively affects both organisational efficiency and business legitimacy and then firm performance. However, the promotion effect of organisational efficiency is stronger than that of business legitimacy on firm performance. The results further indicate that CEO shareholding strengthens the effect of management innovation on organisational efficiency but weakens it for business legitimacy.

This study presents a complete explanation of the effect of management innovation on firm performance by exploring the mediating effect of both organisational efficiency and business legitimacy. Further, it compares the effects of organisational efficiency and business legitimacy on firm performance. Finally, it resolves the conflict between the rational and fashion perspectives by involving the moderating effect of CEO shareholding.

This study aims to investigate the influence of CEO’s only-child status on corporate social responsibility (CSR) practices. It seeks to extend the understanding of upper echelon theory by examining unexplored CEO characteristics and their impact on CSR decisions.

The paper uses manually collected CEO family information and Chinese Stock and Market Accounting Research data as a basis to examine the influence of CEOs’ early-life experiences on their engagement in CSR activities. The study applies attachment security theory from developmental psychology and uses upper echelon theory, particularly focusing on CEOs’ only-child status. A comparative analysis of philanthropic donations between CEOs who are only children and those who have siblings is conducted. The study also examines the moderating effects of corporate slack resources and CEO shareholdings.

Preliminary findings suggest that CEOs who are only children are more likely to engage in CSR compared to their counterparts with siblings. However, the difference in donation amounts between the two groups tends to attenuate with decreased slack resources and increased CEO shareholdings.

To the best of the authors’ knowledge, this research represents the first attempt to investigate being the only child in one’s family and the CSR-related decision of CEOs, which extends the upper echelon theory by introducing the family science theory into the management domain.

This study investigates the determinants of Chief Executive Officer (CEO) cash compensation in relation to corporate governance and performance in China's listed firms. This article also aims at analyzing gender earning differentials among CEOs.

The empirical analysis is based on the panel data set which contains information on the CEOs of 1,701 firm-year observations over the period 2006-2010. A Oaxaca decomposition is also implemented to measure the gap between male and female CEO compensation.

The paper observes that CEO compensation relies more on firm accounting performance than on stock market performance. This relationship is especially evident when accounting performance is measured as the return-on-assets. Dominant shareholders such as the state and block holders have a distinct impact on the use of incentive pay. The presence of a compensation committee in a Chinese listed firm is correlated with an excessive pay package for the Chief Executive Officer (CEO), even though there is evidence that pay-for-performance is more likely in the presence of a compensation committee. Furthermore, this context extends the international body of evidence on CEO compensation by offering a novel accounting of the gender gap in pay among China's listed firms. Examination of the dataset reveals that women represent approximately 6.8 percent of CEOs. In keeping with international norms, female CEOs are more senior and better educated than their male counterparts, yet they receive less favorable compensation. The Oaxaca decomposition shows a larger unexplained part of the pay-gap and suggests that the gender statistically explains a great deal of the gap in pay between male and female CEOs across China's listed firms.

This article contributes to the international corporate governance literature and implications for the design of good corporate governance for China's listed firms. Moreover, this article also highlights the current gender gap among CEOs in compensation.

Face is the most intuitive and representative feature at the individual level. Many studies show that beautiful faces help individuals and enterprises obtain economic benefits and form a high economic premium, but the discussion of their potential social value is insufficient. This study aims to focus on the impact of the personal characteristics of executives. It mainly analyzes the impact mechanism of CEO facial attractiveness on corporate social responsibility (CSR) decision-making, clarifying the social value of beauty from the perspective of CSR.

The authors use the regression model to analyze the panel data set, which was conducted by a sample of Chinese publicly listed firms from 2016 to 2018.

The study found that CEOs with high facial attractiveness are more active in fulfilling CSR, which can usually bring higher social benefits. CEOs with beautiful faces are prone to overconfidence, are optimistic about their ability and the future development of the enterprise and are more willing to increase their investment in CSR. CEO duality can positively regulate the positive correlation between a CEO’s facial attractiveness and CSR.

Based on the perspective of upper echelons theory, this paper explores the mechanism of CEO facial attractiveness on CSR. This study enriches the perspective of the upper echelon’s theoretical research and has essential enlightenment for CEO selection and training practice.

The purpose of this study is to examine whether institutional investors monitoring attenuate (exacerbate) weaker earnings persistence in politically connected firms (PCFs). In addition, it investigates whether earnings persistence do vary according to different types of political connections.

This study employs earnings persistence as measure of earnings quality and ordinary least squares (OLS) model to examine: (1) the moderating effect of institutional investors’ ownership on the association between earnings persistence and PCFs and (2) the association between different types of political connections and earnings persistence.

This study finds that institutional investors' ownership attenuates weaker earnings quality in PCFs, indicating effective monitoring. However, stronger earnings persistence is associated with PCFs with longer political ties, audited by big four audit firm and with higher CEO power.

This study reveals the lower earnings persistence in PCFs can be attenuated by institutional investors monitoring. However, findings also suggest that earnings persistence in PCFs is affected by duration of political ties, big four audit firm and CEO power. This suggests that PCFs should not be viewed as a homogeneous group of firms.

The study supports the existence of a relationship between components of CEO compensation and firm performance. On average, the sampled firms can be characterized as having high levels of CEO cash compensation and high ROE, as well as high levels of stock option values and high market returns. These between‐firm effects suggest the existence of labor market norms linking executive compensation with firm performance. CEO cash compensation was also strongly influenced by CEO age and firm size.

We expect to provide a complete theoretical framework and large sample evidence on the impact of corporate social responsibility (CSR) on the efficiency of labor investment. We also hope to provide micro-evidence based on labor investment behavior for the two-sided impact of corporate CSR behavior.

This paper measures labor investment efficiency by estimating the difference between actual and expected net hiring of enterprises. CSR is measured on the basis of the CSR score of Chinese listed companies published by Hexun.com. A regression model is constructed to analyze the relationship between CSR and labor investment efficiency. Possible endogeneity problems are controlled by lagging independent variables, propensity score matching method and difference-in-difference method.

Results show that CSR can improve labor investment efficiency by reducing over-hiring and under-hiring in emerging markets. The existence of the mediating effect of agency cost, information disclosure quality and employment fluctuation confirms that CSR improves labor investment efficiency through two mechanisms of corporate governance and labor market friction. The improvement effect of CSR on labor investment efficiency is more significant in non-state-owned, high CEO shareholding ratio and high-average urban wage enterprises.

In conclusion, our study is an important supplement to the existing research on the factors affecting labor investment efficiency. Our research conclusions will be helpful for enterprises in developing countries or enterprises in labor-intensive industries to improve labor investment inefficiency. The conclusion of the mechanism analysis in this paper provides more complete and reliable microscopic evidence for accurately identifying the specific path of CSR's impact on labor investment efficiency. This paper verifies the positive impact of CSR from the perspective of labor investment efficiency in the context of a developing country, which provides evidence for the theoretical conflicts related to CSR based on the effectiveness of enterprise labor investment decisions.

In recent years, the trend of hiring external CEOs has become increasingly prevalent. However, the impact of these CEOs' prior experiences in different firms on the innovation of their successor firms has not received sufficient attention. Drawing on upper echelons theory and management power theory, this study explores the non-linear relationship between prior CEO experience and breakthrough innovation, as well as the moderating effects of different types of CEO power.

We selected China’s A-share listed manufacturing companies as samples and used zero-inflated Poisson regression to verify the hypothesis. We employed instrumental variable methodology to address potential endogeneity issues and conducted robustness tests by substituting core variables, changing measures, adding additional control variables, and shrinking the core variables.

We conclude that there exists an inverted U-shaped relationship between prior CEO experience and breakthrough innovation. Furthermore, we analyze the effects of formal and informal CEO power on the role of prior CEO experience in breakthrough innovation and find that the inverted U-shaped relationship is contingent upon the level of CEO power.

The findings extend research on CEO succession and offer a reference for firms aiming to hire external CEOs with prior experience to foster breakthrough innovation.