CEO Career Experience And Corporate Environmental Performance

This paper is based on the actual problem of "low corporate environmental performance".On the basis of literature review.Starting from the basic theories of high ladder team theory,principal-agent theory and sustainable development theory.Analyzing CEO career experience and corporate environmental performance.On this basis,by constructing the CEO career experience index and reconstructing corporate environmental performance index.Using multiple linear regression models for empirical test.Based on this,the research conclusion is obtained.Firstly,the relevant concepts are defined.On this basis,by drawing lessons from high ladder team theory,principal-agent theory and sustainable development theory and other basic theories.Analyzing CEO career experience and corporate environmental performance.Based on this,the basic research hypothesis is put forward: CEO career experience positively affects corporate environmental performance.Secondly,empirical analysis is carried out on the direct impact of CEO career experience on corporate environmental performance.Based on in-depth analysis of the relationship between CEO career experience and corporate environmental performance.The index of CEO career experience is constructed by using the four dimensions of CEO functional department experience,number of enterprises experience,academic institution experience,overseas working and learning experience.The logarithmic ratio of total business income to environmental capital expenditure is used to measure the environmental performance of enterprises.On this basis,through the construction of multiple linear regression model,the data of 201 listed companies in heavy polluting industries from 2014 to 2018 were selected as the research samples.By using ordinary least square method(OLS).A fixed effect model was used to get the research results.Thirdly,from the perspective of the influencing factors of enterprise environmental performance.Factors such as ownership concentration,growth,property right and combination of two jobs can affect the relationship between CEO career experience and corporate environmental performance.Therefore,through further empirical analysis,the final conclusion is drawn:(1)CEO career experience positively affects corporate environmental performance.(2)Ownership concentration has a positive moderating effect on the relationship between CEO career experience and corporate environmental performance in the eastern,central and western regions.Corporate growth has a positive moderating effect on the relationship between CEO career experience and corporate environmental performance in the eastern and central regions,but has no significant moderating effect in the western regions.(3)CEO career experience has a significant positive impact on the environmental performance of privately-owned heavily polluting companies,but the impact on the environmental performance of state-owned heavily polluting companies is not significant.The occupational experience of the CEO has a significant positive impact on the environmental performance of heavy pollution enterprises with two jobs combined,while the impact on the environmental performance of heavy pollution enterprises with two jobs separated is not significant.(4)After the implementation of the "Environmental Protection Law of the People’s Republic of China",that is,from 2016 to 2018,the CEO career experience has a significant impact on the company’s environmental performance.Finally,based on the research conclusion,this article from the government level and the enterprise level to improve the vocational experience personnel training mechanism and strengthen the enterprise environmental protection important enlightenment.At the same time,based on the research conclusions,the research prospects are put forward.