The Impact Of CEO Compensation On Corporate Social Responsibility Performance

Under the new normal economy,enterprises need to change their inherent development models to adapt to the new market environment.Enterprises at the forefront of development are paying more attention to social responsibility.The diversified development gradually requires it to assume various responsibilities and obligations.At the same time,the development and success of a company depends on the strategy and management of its managers.The CEO has the power to decide on the senior management team,is the decision maker,and is also the team manager.Differences in the CEO's personal characteristics can lead to differences in their decisions,which in turn leads to the development of corporate development strategies.Corporate social responsibility plays an important role in corporate strategy.The characteristics of CEO also have a great impact on corporate social responsibility.Based on the above problems,this paper selects the perspective of CEO background heterogeneity adjustment and studies the impact of CEO compensation on corporate social responsibility performance.The sample of this paper mainly selects the relevant data of all A-share listed companies in Shanghai and Shenzhen in 2012-2017.On this basis,the insurance financial industry,ST enterprise samples and missing data samples are excluded.The research method of this paper adopts literature analysis method and empirical research method.The research topic of this paper is the research on the impact of CEO compensation on corporate social responsibility performance under the background heterogeneity of CEO.This paper firstly collates and analyzes the existing literature related to CEO compensation,CEO's background characteristics heterogeneity,salary incentives,corporate social responsibility performance,and CEO compensation and corporate social responsibility performance.The theoretical basis of this paper mainly includes: principal agent,salary incentive,human capital and high-level echelon theory.Based on the existing theoretical basis,the influence of the heterogeneity of CEO background characteristics on the relationship between salary and corporate social responsibility performance is inferred.According to the relevant theoretical analysis,the research hypothesis of this paper is proposed.According to the hypothesis proposed in this paper,the relevant research variables are determined and their measurementindicators are determined.According to the research hypothesis,the regression model is established by referring to the existing literature.Finally,Excel is used to sort the selected samples and form the final sample.The data is substituted into the regression model for statistical analysis using STATA15.0 statistical software,including: descriptive Statistics,Pearson correlation analysis,multicollinearity test,and multiple regression analysis and robustness test.According to the analysis results,the conclusions of this paper are obtained.The empirical research found that:(1)The higher the CEO salary level,the better the corporate social responsibility performance.(2)Compared with male CEOs,female CEOs will enhance the positive impact of CEO compensation levels on social responsibility performance.(3)The CEO's business background will enhance the positive impact of salary levels on social responsibility performance.(4)Equity incentives will enhance the positive impact of CEO compensation levels on social responsibility performance.Finally,based on the actual situation and the research results of this paper,relevant policy opinions are proposed.