Executive compensation, internal control quality, and corporate social responsibility in China
研究了中国上市公司高管薪酬和内部控制质量如何影响企业社会责任，发现两者都有正面作用，且内部控制质量是高管薪酬影响CSR的一个渠道，国有企业的效果更强。
Abstract We explore the relations among executive compensation, internal control quality (ICQ), and corporate social responsibility (CSR), focusing on improving the CSR outcomes of listed firms in China. Our findings are fourfold. First, we document that executive compensation and ICQ have a significant positive impact on CSR. Second, we find that executive compensation positively affects ICQ; hence, we identify ICQ as a channel that can further improve the impact of executive compensation on CSR. Third, we discover that the documented effects are stronger in state‐owned firms than in non‐state‐owned firms. Fourth, we observe that regulatory changes have both positive and negative impacts on CSR. Our findings are less vulnerable to endogeneity and have key implications for policy makers.