Social Performance Incentives in Mission-Driven Firms
研究了韩国186家社会使命导向型企业引入社会绩效激励计划的效果，发现社会绩效显著提升，且不影响财务绩效，甚至在高任务互补性企业中有正向溢出效应。
We examine the effect of introducing an incentive plan based on social performance in a sample of 186 social mission–oriented firms in Korea. We find that the social performance of social enterprises (SEs) significantly improves over time after adoption of an incentive plan based on social performance, and that the incentive effect increases with managers’ perceived measurability of social performance. Moreover, we document that social bonuses do not harm SEs’ financial performance and that they have a positive spillover effect on financial performance in SEs that have a higher level of task complementarity between social and financial goals. Our results also show that when the main beneficiary of social bonuses is expected to be a firm’s employees, the incentive effect of social bonuses decreases (increases) with a firm’s focus on social controls (formal controls). In contrast, when the main beneficiary is expected to be a firm’s social mission, the incentive effect increases with a firm’s reliance on social controls. This paper was accepted by Suraj Srinivasan, accounting.