英文摘要 |
In the wake of corporate social responsibility, the academia and practitioners are increasingly concerned with the causes and consequences of corporate misconduct. Among theoretical and empirical probes into the issue, a CEO's career horizon is thought to be a key factor of the quality of executive decision making. In a sample of 1,124 firm-year observations in semiconductor industry in Taiwan, the study argues that CEO career horizon has an inverted-U effect on the incidence of corporate misconduct. Further considering the monitoring roles of board size and board functional diversity, we found that a board with members from diverse functional backgrounds is better able to mitigate the detrimental effect of CEO career horizon on corporate misconduct rather than a large-sized board. This study contributes to the literature by highlighting the critical roles of CEOs and boards in corporate irresponsible behavior. |