CSR and Family CEO: The Moderating Role of CEO's Age

This study examines to what extent different types of CEOs in family firms influence external and internal stakeholder-related CSP as compared to CEOs in nonfamily firms. Linking family CEO and nonfamily CEO with CSR outcomes, we provide evidence that family CEOs are positively associated with both external and internal CSR, whereas nonfamily CEOs within family firms tend to be negatively associated with both external and internal CSR. We show that the incumbent CEO's age moderates the above relationships, indicating the existence of shifting family priorities and suggesting a tendency toward CSR conformity as the salience of succession concerns increases.

Automated summary

This study examines the impact of different types of CEOs in family firms on external and internal corporate social responsibility (CSR), compared to CEOs in nonfamily firms. It finds that family CEOs have a positive effect on both external and internal CSR, while nonfamily CEOs in family firms have a negative effect. The study also suggests that the age of the incumbent CEO moderates these relationships, indicating a shift in family values and a tendency towards CSR conformity with increasing succession concerns.