IDEAS home Printed from https://ideas.repec.org/a/plo/pone00/0306989.html
   My bibliography  Save this article

Investor attention and corporate social responsibility of family businesses in Vietnam: The moderating role of CEO overpower

Author

Listed:
  • Khoa Dang Duong
  • Hanh Thi Hong Nguyen
  • Phuc Huu Truong
  • Hoa Thanh Phan Le

Abstract

This study examines the influence of investor attention and Chief Executive Officers (CEOs) power on Corporate Social Responsibility (CSR) within Vietnamese family businesses. Unlike most of the past literature, this study further investigates the potential moderating effects of CEOs’ power on the relationship between investor attention and CSR. Utilizing the dynamic system Generalized Method of Moments (GMM), this study analyzes a dataset comprising 116 Vietnamese family businesses from 2005 to 2020. The findings reveal an inverted U-shape between CEO power and CSR within family businesses; meanwhile, investor attention demonstrates a negative impact on CSR. Moreover, the results report that CEO power is a moderating factor in the relationship between investor attention and CSR. These results are consistent with various theoretical frameworks, including agency theory, overinvestment, career concern, career horizon, and conflict-resolution hypotheses. Finally, our study offers management implications to foster the sustainable development of CSR within family businesses, particularly within emerging markets.

Suggested Citation

  • Khoa Dang Duong & Hanh Thi Hong Nguyen & Phuc Huu Truong & Hoa Thanh Phan Le, 2024. "Investor attention and corporate social responsibility of family businesses in Vietnam: The moderating role of CEO overpower," PLOS ONE, Public Library of Science, vol. 19(7), pages 1-22, July.
    • Handle: RePEc:plo:pone00:0306989
    DOI: 10.1371/journal.pone.0306989
    as

    Download full text from publisher

    File URL: https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0306989
    Download Restriction: no
    File URL: https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0306989&type=printable
    Download Restriction: no
    File URL: https://libkey.io/10.1371/journal.pone.0306989?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Piñeiro-Chousa, Juan & Vizcaíno-González, Marcos & Caby, Jérôme, 2019. "Financial development and standardized reporting: A comparison among developed, emerging, and frontier markets," Journal of Business Research, Elsevier, vol. 101(C), pages 797-802.
    2. Shahbaz Sheikh, 2019. "An examination of the dimensions of CEO power and corporate social responsibility," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 18(2), pages 221-244, March.
    3. Juan Pineiro-Chousa & Marcos Vizcaíno-González & Jérôme Caby, 2019. "Financial development and standardized reporting: A comparison among developed, emerging, and frontier markets," Post-Print hal-02155825, HAL.
    4. Chen, Wanyu (Tina) & Zhou, Gaoguang (Stephen) & Zhu, Xindong (Kevin), 2019. "CEO tenure and corporate social responsibility performance," Journal of Business Research, Elsevier, vol. 95(C), pages 292-302.
    5. Jiraporn, P. & Chintrakarn, P., 2013. "How do powerful CEOs view corporate social responsibility (CSR)? An empirical note," Economics Letters, Elsevier, vol. 119(3), pages 344-347.
    6. Shahbaz Sheikh, 2019. "An examination of the dimensions of CEO power and corporate social responsibility," Review of Accounting and Finance, Emerald Group Publishing, vol. 18(2), pages 221-244, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Brahma, Sanjukta & Boateng, Agyenim, 2025. "Board gender diversity, CEO power and LGBTQ-supportive corporate policies," Research in International Business and Finance, Elsevier, vol. 74(C).
    2. Habiba Al-Shaer & Khaldoon Albitar & Jia Liu, 2023. "CEO power and CSR-linked compensation for corporate environmental responsibility: UK evidence," Review of Quantitative Finance and Accounting, Springer, vol. 60(3), pages 1025-1063, April.
    3. Jeong, Nara & Kim, Nari & Arthurs, Jonathan D., 2021. "The CEO’s tenure life cycle, corporate social responsibility and the moderating role of the CEO’s political orientation," Journal of Business Research, Elsevier, vol. 137(C), pages 464-474.
    4. Shahid Ali & Junrui Zhang & Muhammad Usman & Muhammad Kaleem Khan & Farman Ullah Khan & Muhammad Abubakkar Siddique, 2020. "Do tournament incentives motivate chief executive officers to be socially responsible?," Managerial Auditing Journal, Emerald Group Publishing Limited, vol. 35(5), pages 597-619, February.
    5. Patrick Velte, 2022. "Does sustainable corporate governance have an impact on materiality disclosure quality in integrated reporting? International evidence," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(6), pages 1655-1670, December.
    6. Ameen Ali Bin Afif & Zuaini Ishak & Norfaiezah Sawandi, 2024. "The moderating role of organizational sub-sectors on the relationship between CEO duality and nonprofit performance," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 21(4), pages 943-962, December.
    7. Alam, Ahmed W. & Farjana, Ashupta & Houston, Reza, 2024. "Geopolitical risk, CEO power, and corporate lobbying: Do powerful CEOs lobby more?," Finance Research Letters, Elsevier, vol. 62(PA).
    8. Minji Kim & Tohyun Kim, 2020. "When Do CEOs Engage in CSR Activities? Performance Feedback, CEO Ownership, and CSR," Sustainability, MDPI, vol. 12(19), pages 1-13, October.
    9. Siew Peng Lee, 2023. "Board monitoring effectiveness and corporate sustainability performance: do legal system and CEO non-duality matter?," Review of Managerial Science, Springer, vol. 17(4), pages 1243-1267, May.
    10. H M Arif & Mohd Zulkhairi Mustapha & Azlina Abdul Jalil, 2023. "Do powerful CEOs matter for earnings quality? Evidence from Bangladesh," PLOS ONE, Public Library of Science, vol. 18(1), pages 1-28, January.
    11. Caby, Jérôme & Ziane, Ydriss & Lamarque, Eric, 2020. "The determinants of voluntary climate change disclosure commitment and quality in the banking industry," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    12. María Consuelo Pucheta‐Martínez & Isabel Gallego‐Álvarez, 2024. "Firm innovation as a business strategy of CEO power: Does national culture matter?," Business Strategy and the Environment, Wiley Blackwell, vol. 33(3), pages 1865-1886, March.
    13. Tim Heubeck & Reinhard Meckl, 2023. "Microfoundations of innovation: A dynamic CEO capabilities perspective," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(6), pages 3108-3126, September.
    14. Wafa Ghardallou, 2022. "Corporate Sustainability and Firm Performance: The Moderating Role of CEO Education and Tenure," Sustainability, MDPI, vol. 14(6), pages 1-16, March.
    15. Farman Ullah Khan & Vanina Adoriana Trifan & Mioara Florina Pantea & Junrui Zhang & Muhammad Nouman, 2022. "Internal Governance and Corporate Social Responsibility: Evidence from Chinese Companies," Sustainability, MDPI, vol. 14(4), pages 1-20, February.
    16. Mena, Carlos & Karatzas, Antonios & Hansen, Carsten, 2022. "International trade resilience and the Covid-19 pandemic," Journal of Business Research, Elsevier, vol. 138(C), pages 77-91.
    17. Salvatore Loprevite & Domenico Raucci & Daniela Rupo, 2020. "KPIs Reporting and Financial Performance in the Transition to Mandatory Disclosure: The Case of Italy," Sustainability, MDPI, vol. 12(12), pages 1-24, June.
    18. Jose Godinez & Denise R. Dunlap, 2021. "Frontier Markets and Sustainable Entrepreneurial Competences: An Exploratory Study of the Impact of a New Industry in Guatemala," Sustainability, MDPI, vol. 13(20), pages 1-21, October.
    19. María Consuelo Pucheta-Martínez & Isabel Gallego-Álvarez, 2021. "The Role of CEO Power on CSR Reporting: The Moderating Effect of Linking CEO Compensation to Shareholder Return," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
    20. Zhaocheng Xu & Jingchuan Hou, 2021. "Effects of CEO Overseas Experience on Corporate Social Responsibility: Evidence from Chinese Manufacturing Listed Companies," Sustainability, MDPI, vol. 13(10), pages 1-24, May.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:plo:pone00:0306989. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: plosone (email available below). General contact details of provider: https://journals.plos.org/plosone/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.