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Beyond the Aggregate: The Heterogeneous Impact of Chairperson Media Coverage on ESG Subdimensions

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Business Ethics A European Review

Published online on

Abstract

["Business Ethics, the Environment &Responsibility, EarlyView. ", "\nABSTRACT\nThe antecedents of ESG practices have been widely studied. However, previous research has not examined the impact of chairperson media coverage (CMC) on a firm's ESG engagement. This study draws on the strategic leadership literature, stakeholder theory, and resource dependence theory to develop a theoretical framework addressing these gaps. First, by deconstructing ESG into its three key components, this research proposes that CMC enhances environmental and social involvement while diminishing governance involvement. Furthermore, it is argued that economic policy uncertainty amplifies the influence of the CMC on these three ESG dimensions. Using a fixed effects model, empirical analysis of data from Chinese listed companies between 2011 and 2020 supports most of these propositions. This study provides a more nuanced understanding of corporate ESG behavior in emerging economies (e.g., China) through the lens of the CMC. Additionally, the insights from this research offer valuable implications for shareholders and policymakers seeking to promote more effective corporate ESG practices.\n"]