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From battlefield to boardroom: The impact of board chair’s military experience on corporate ESG performance

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  • Liu, Yang
  • Zhang, Fukang
  • Hu, Li
  • Zhang, Han

Abstract

This study examines the effect of chairmen’s military imprinting on corporate ESG performance, using ESG ratings from the Sino-Securities Index (SNSI) for empirical analysis. The results reveal that chairmen with military imprinting tend to improve their firms’ ESG performance. Furthermore, we explore boundary conditions including top management team (TMT) political capital, external supervision, and state ownership. The analysis shows that higher levels of TMT political capital and stronger external oversight reinforce the positive influence of military imprinting. This relationship is explained by two key mechanisms: corporate national pride and the tenure of the chairman. National pride cultivates leadership oriented toward public welfare, while extended tenure enables sustained commitment to long-term ESG objectives. This research expands our knowledge about how military imprinting shapes corporate sustainability, offering practical implications for governance and ESG strategy.

Suggested Citation

  • Liu, Yang & Zhang, Fukang & Hu, Li & Zhang, Han, 2026. "From battlefield to boardroom: The impact of board chair’s military experience on corporate ESG performance," Journal of Business Research, Elsevier, vol. 206(C).
    • Handle: RePEc:eee:jbrese:v:206:y:2026:i:c:s0148296326000020
    DOI: 10.1016/j.jbusres.2026.115968
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