Two Heads May Be More Responsible Than One: Co-CEOs and Corporate Social Performance

Authors

  • Dinesh B. Hasija University of Arkansas
  • Alan E. Ellstrand University of Arkansas
  • Dan L. Worrell University of Arkansas
  • Heather Dixon-Fowler Appalachian State University

Keywords:

Management, CEO, co-CEO, corporate social performance, corporate social responsibility, corporate social irresponsibility

Abstract

Extant research on the co-CEO structure is very limited. We extend this area of inquiry by examining the influence of the co-CEOs on corporate social responsibility (CSR) and irresponsibility (CSI). Drawing from dual leadership theory, we hypothesize that firms led by co-CEOs demonstrate higher levels of CSR and lower levels of CSI. Based on a propensity score-matching sample of co-CEOs and solo CEOs for U.S. firms from 1996 to 2014 and KLD ratings, we found strong support for our hypotheses. Our findings suggest that firms interested in enhanced corporate social performance (CSP) might consider the benefits of a co-CEO structure.

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Published

2017-09-01

How to Cite

Hasija, D. B., Ellstrand, A. E., Worrell, D. L., & Dixon-Fowler, H. (2017). Two Heads May Be More Responsible Than One: Co-CEOs and Corporate Social Performance. Journal of Management Policy and Practice, 18(2). Retrieved from https://articlearchives.co/index.php/JMPP/article/view/3576

Issue

Vol. 18 No. 2 (2017)

Section

Articles