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Institutions and Stakeholder Influen...

Boodoo, Muhammad Umar Aabid.

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Institutions and Stakeholder Influence on CEO compensation and Corporate Social Responsibility = = Les Institutions et l'influence des Parties Prenantes sur la Remuneration du PDG et la Responsabilite Sociale des Entreprises.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Institutions and Stakeholder Influence on CEO compensation and Corporate Social Responsibility =/
Reminder of title:	Les Institutions et l'influence des Parties Prenantes sur la Remuneration du PDG et la Responsabilite Sociale des Entreprises.
Author:	Boodoo, Muhammad Umar Aabid.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2016,
Description:	161 p.
Notes:	Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.
Contained By:	Dissertation Abstracts International78-08A(E).
Subject:	Management. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10190145
ISBN:	9781369667318

Institutions and Stakeholder Influence on CEO compensation and Corporate Social Responsibility = = Les Institutions et l'influence des Parties Prenantes sur la Remuneration du PDG et la Responsabilite Sociale des Entreprises.
Boodoo, Muhammad Umar Aabid.

Institutions and Stakeholder Influence on CEO compensation and Corporate Social Responsibility =Les Institutions et l'influence des Parties Prenantes sur la Remuneration du PDG et la Responsabilite Sociale des Entreprises. - Ann Arbor : ProQuest Dissertations & Theses, 2016 - 161 p.

Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.

Thesis (Ph.D.)--University of Toronto (Canada), 2016.

This thesis of three (stand-alone) chapters centres around the premise that institutions and stakeholders influence corporate policy, in particular with regards to CEO Compensation, and Corporate Social Responsibility (CSR). Chapter 1 focuses on the implicit regulation that unions may pose to corporate governance, and finds that during the financial crisis (2008-2011), union density at corporate level was positively related to non-equity components of CEO pay such as salary and pension contributions with no significant effects on equity components such as options and restricted stock units. These findings have some precedence in the literature but they also go counter to more prominent theoretical predictions and empirical research which posit that unions should in fact reduce CEO compensation. Chapter 2 looks at the influence of unions on CSR profiles and, through the lenses of stakeholder and neo-institutional theories, finds that unions generally tend to gear companies towards more internal rather than external CSR. However, the observed effect of unions on the internal-external CSR profile of companies is not linear. At low levels of unionization, there is a substitution effect where companies substitute internal for external CSR, but at higher levels of unionization, both elements complement and reinforce each other. Drawing from the employment relations literature, I propose that the complementarity perhaps points to a labour-management relationship which is based on more equally-shared power, trust, and loyalty. Chapter 3 looks at the causal impact of regulatory changes on Corporate Social Performance. Using difference-in-difference techniques, I find that forcing companies to disclose CSR practices makes them improve their social performance. I attribute this finding to firms facing higher social pressures and firms being soft targets for activists given that their CSR practices become public information. Further, I find that the social and governance elements of CSR improve more than the environment aspect. This finding bodes well with stakeholder identification and salience theory, which posits that stakeholders who have power and whose claims are more legitimate and urgent will be given more attention by management. All three chapters reinforce the hypothesis that institutional pressure and stakeholder pressure have an impact on Corporate policy. The data used in this thesis come from new and proprietary sources, and cover three different countries (Canada, the UK, and India), adding to the expansion of the management literature.

ISBN: 9781369667318Subjects--Topical Terms:

516664
Management.

Institutions and Stakeholder Influence on CEO compensation and Corporate Social Responsibility = = Les Institutions et l'influence des Parties Prenantes sur la Remuneration du PDG et la Responsabilite Sociale des Entreprises.
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520 $a This thesis of three (stand-alone) chapters centres around the premise that institutions and stakeholders influence corporate policy, in particular with regards to CEO Compensation, and Corporate Social Responsibility (CSR). Chapter 1 focuses on the implicit regulation that unions may pose to corporate governance, and finds that during the financial crisis (2008-2011), union density at corporate level was positively related to non-equity components of CEO pay such as salary and pension contributions with no significant effects on equity components such as options and restricted stock units. These findings have some precedence in the literature but they also go counter to more prominent theoretical predictions and empirical research which posit that unions should in fact reduce CEO compensation. Chapter 2 looks at the influence of unions on CSR profiles and, through the lenses of stakeholder and neo-institutional theories, finds that unions generally tend to gear companies towards more internal rather than external CSR. However, the observed effect of unions on the internal-external CSR profile of companies is not linear. At low levels of unionization, there is a substitution effect where companies substitute internal for external CSR, but at higher levels of unionization, both elements complement and reinforce each other. Drawing from the employment relations literature, I propose that the complementarity perhaps points to a labour-management relationship which is based on more equally-shared power, trust, and loyalty. Chapter 3 looks at the causal impact of regulatory changes on Corporate Social Performance. Using difference-in-difference techniques, I find that forcing companies to disclose CSR practices makes them improve their social performance. I attribute this finding to firms facing higher social pressures and firms being soft targets for activists given that their CSR practices become public information. Further, I find that the social and governance elements of CSR improve more than the environment aspect. This finding bodes well with stakeholder identification and salience theory, which posits that stakeholders who have power and whose claims are more legitimate and urgent will be given more attention by management. All three chapters reinforce the hypothesis that institutional pressure and stakeholder pressure have an impact on Corporate policy. The data used in this thesis come from new and proprietary sources, and cover three different countries (Canada, the UK, and India), adding to the expansion of the management literature.
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