Co-Opted Directors and Corporate Social Responsibility
研究发现美国公司董事会中共同选任董事比例越高，企业社会责任表现越差，尤其在环境与多元化项目上；而独立于现任CEO的董事则促进社会责任行为。
This study examines the relationship between board co-option and corporate social responsibility (CSR) among U.S. firms. The results indicate that higher levels of board co-option are linked to weaker CSR performance, particularly in terms of environmental initiatives and diversity-related social programs. The negative association between board co-option and CSR is more pronounced in firms in which CEOs hold substantial power and short-term managerial compensation is prioritized and in industries characterized by higher information asymmetries. In contrast, independent, non-co-opted directors appointed before the incumbent CEO enhance engagement in CSR, highlighting their important role in fostering socially responsible corporate behavior.