Should Overconfident Managers Engage in Corporate Social Responsibility Activities? Evidence from the Accounting Performance of the Banking Industry

過度自信管理者應從事企業社會責任活動嗎？來自銀行業會計績效的證據

陳曉蓉(Hsiao-Jung Chen)

《財務金融學刊》 26卷4期 (2018/12) Pp. 45-99

https://doi.org/10.6545/JFS.201812_26(4).0002

摘要

This paper examines the impacts of banks that engage in corporate social responsibility (CSR) activities on the relationship between managerial overconfidence and bank performance. The sample consists of 136 financial institutions in 23 countries over the period of 2006-2012. Empirical results show that when this study controls for bank-specific factors, country-specific factors, and time effects, managerial overconfidence significantly raises banks' return on equity. Similarly, engaging in CSR activities is beneficial in improving banks' accounting performance. However, when banks are managed by overconfident chief executive officers (CEOs) or chief financial officers (CFOs), engaging in CSR activities harms the banks' accounting performance.

關鍵字

Over-confidence ； corporate social responsibility ； bank performance

並列摘要

本文在控制銀行特性、國家特性及時間效果下，利用最小平方法調查銀行重視企業社會責任（corporate social responsibility （CSR））對於管理者過度自信與銀行績效間關係之影響。結果發現，銀行管理者越傾向過度自信或銀行從事企業社會責任活動，分別可顯著提升其會計績效，但過度自信管理者所掌管的銀行若從事CSR活動，反而使該銀行會計績效顯著惡化。

並列關鍵字

過度自信 ； 企業社會責任 ； 銀行績效

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