Abstract
This paper compares the environmental performance of family and nonfamily public corporations between 1998 and 2002, using a sample of 194 U.S. firms required to report their emissions. We found that family-controlled public firms protect their socioemotional wealth by having a better environmental performance than their nonfamily counterparts, particularly at the local level, and that for the nonfamily firms, stock ownership by the chief executive officer (CEO) has a negative environmental impact. We also found that the positive effect of family ownership on environmental performance persists independently of whether the CEO is a family member or serves both as CEO and board chair.
Original language | English (US) |
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Pages (from-to) | 82-113 |
Number of pages | 32 |
Journal | Administrative Science Quarterly |
Volume | 55 |
Issue number | 1 |
DOIs | |
State | Published - Jan 1 2010 |
Externally published | Yes |
ASJC Scopus subject areas
- Arts and Humanities (miscellaneous)
- Sociology and Political Science
- Public Administration