Top Management Team Heterogeneity and Corporate Social Responsibility——Based on Behavioral Integration Study of Budget Management

Abstract

Abstract:

Taking A share listed companies in China from 2011 to 2015 as research samples, this paper investigates the effect of top management team (TMT) on corporate social responsibility and the role of budget management in the behavior integration. The results show that the heterogeneity of TMT in age and tenure are significantly negatively correlated with corporate social responsibility, and the heterogeneity in education and gender are significantly positively correlated with corporate social responsibility. Budget management plays a positive role of behavioral integration in the effect of TMT heterogeneity on corporate social responsibility. After further distinguishing the nature of the company's property, it is found that the negative correlation between the heterogeneity of TMT in age and tenure and the corporate social responsibility is more significant in the non-state-owned holding companies. The positive correlation between the heterogeneity in gender and the corporate social responsibility is more significant in the state-owned holding companies. There is no difference in the positive correlation between the heterogeneity in education and the corporate social responsibility in the state-owned and non-state-owned holding companies. The behavioral integration of budget management in the effect of TMT heterogeneity on corporate social responsibility in the non-state-owned holding companies is more significant.

Key words: TMT heterogeneity, budget management, corporate social responsibility

Zhang Zhaoguo, Xiang Shouren, Cao Danting. Top Management Team Heterogeneity and Corporate Social Responsibility——Based on Behavioral Integration Study of Budget Management[J]. , 2018, 30(4): 120-131.

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