Research Article
Pay Gap within Executives and Corporate Social Responsibility: An Empirical Analysis Based on Multivariate Regression Model
@INPROCEEDINGS{10.4108/eai.18-11-2022.2326895, author={Shengdao Gan and Wenyu Mo}, title={Pay Gap within Executives and Corporate Social Responsibility: An Empirical Analysis Based on Multivariate Regression Model}, proceedings={Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China}, publisher={EAI}, proceedings_a={ICEMME}, year={2023}, month={2}, keywords={pay gap; corporate social responsibility; executive incentive; regression analysis; sustainable development}, doi={10.4108/eai.18-11-2022.2326895} }- Shengdao Gan
Wenyu Mo
Year: 2023
Pay Gap within Executives and Corporate Social Responsibility: An Empirical Analysis Based on Multivariate Regression Model
ICEMME
EAI
DOI: 10.4108/eai.18-11-2022.2326895
Abstract
As an important factor, the pay gap within the top management affects the behavior of the executives and the social responsibility decision-making of the enterprise. In order to study the impact of the pay gap within senior executives on the performance of Corporate social responsibility, this research selected non-financial a-share listed company in Shanghai and Shenzhen Stock Exchange from 2010 to 2019 as sample. And constructed a fixed effect multivariate regression model, which including dummies of year and industry, and using robust standard error at the same time. It is found that there is a significant positive correlation between the pay gap within executives and CSR performance. Two tests of changing the model variables show that the conclusion is still robust. Then, by further analyzing sample data with the stepwise fixed-effect regression models constructed in this study, it is found that the pay gap among senior managers can promote the fulfillment of corporate social responsibility partially through improving the quality of internal control.