ESG Issues and Career Prospects of Directors: Evidence from the International Director Labor Market

Gonul Colak, Timo Korkeamäki, Kent Hickman, Niclas Meyer

Tutkimustuotos: LehtiartikkeliArticleScientificvertaisarvioitu

5 Sitaatiot (Scopus)
89 Lataukset (Pure)

Abstrakti

Using an international sample of firms, we investigate the career prospects of directors of firms experiencing negative ESG issues. By tracking the same director at the same firm over time, we document a significant drop in seats held at other public firms’ boards following intense negative media coverage of an ESG problem occurring at a given director's focal firm. Losses of seats at other firms are concentrated among executive directors, among directors of firms located in countries with high environmental and social norms, and among directors of firms located in countries with bank-based systems. Nonexecutive directors and directors of firms located in less stakeholder-oriented countries are not penalized for ESG issues by the director labor market.
AlkuperäiskieliEnglanti
Sivut147-203
Sivumäärä57
JulkaisuFinancial Markets, Institutions & Instruments
Vuosikerta31
Numero4
Varhainen verkossa julkaisun päivämäärä24 kesäk. 2022
DOI - pysyväislinkit
TilaJulkaistu - marrask. 2022
OKM-julkaisutyyppiA1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä

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