Exploring the Relationship between Top Management Team Characteristics and Corporate Social Responsibility: A Literature Review and Bibliometric Analysis
Abstract
:1. Introduction
2. Research Method
3. Bibliometric Analysis
3.1. Informative Evaluation of Yearly Publications
3.2. Country Distribution of Publications
3.3. Countries Network
3.4. Sankey Schematics
3.5. Co-Occurrence Network of Keywords
4. Full-Text Analysis
5. Discussion
6. Conclusions
7. Future Research Directions with Limitations
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Criteria | Interpretation of Criteria | |
---|---|---|
Inclusion | Closely associated | Academic articles that provide in-depth explanations of topic being studied. |
Certainly associated | Few academic articles are included without detailed explanations. | |
Exclusion | Non associated | This topic is not associated with its description. |
Tangentially associated | The literature does not include any information or barely any information relating to this topic. The topic is only mentioned in passing and is not given primary attention. | |
Lack of full-text | Authors of study lacked accessibility to whole content. |
Study | Independent Variable (IV) | Dependent Variable (DV) | Moderating/ Mediating Factors | Sample/Context | Key Findings |
---|---|---|---|---|---|
[16] | TMT age and tenure heterogeneities | Firm risk | CSR (Moderator) | Non-financial listed companies (Malaysia) | TMT heterogeneity positively moderates CSR’s impact on firm risk |
[17] | Board and TMT gender diversity | CSR | CSR (Mediator) | 248 for-profit organizations in Australia | Gender diversity correlates positively with CSR, improving organizational efficiency and employee productivity |
[18] | Financial experts on TMT | CSR | - | Chinese enterprises | Financial experience benefits CSR, especially in non-state-owned firms |
[19] | TMT gender diversity | Environmental standards adoption | Gender parity, executive power, CSR committees | 490 firms (China, India, Pakistan) | Positive relation between TMT diversity and ISO 14001 adoption |
[20] | TMT media exposure | CSR | TMT power, political connections | 5352 firms (2010–2019) | Media exposure promotes CSR, but TMT power negatively moderates the effect |
[21] | Management Position in TMT | Corporate Social Irresponsibility (CSI) and CSR | Firm size, firm age, service intensity, resource slack | 1569 businesses (63 sectors) | MP positively influences CSR, complemented by other aspects of CSI and CSR competency |
[22] | Female managers in TMT | CSR performance | - | Manufacturing SMEs (201–2015) | Nonfamily SMEs outperform family firms in CSR, linked to female managers in TMT |
[23] | TMT industrial and functional experience | CSP | TMT faultlines (Moderator) | 212 high-polluting Chinese enterprises | Functional experience heterogeneity has an inverted U-shaped impact on CSR and CSP |
[6] | stability of TMT | CSR | CEO power | China’s publicly traded companies from 2009 to 2017 | TMT stability has a favourable impact on sustainable CSR. |
[24] | TMT stability | CSR performance | Aspiration gap, slack resources | Chinese listed corporations (2010–2019) | TMT stability positively impacts CSR; moderated by aspiration gap and slack resources |
[25] | Teacher occurrence in TMT | CSR scores and ranks | TMT and firm-level controls | Chinese A-share listed businesses | Teacher presence in TMT positively affects CSR scores and ranks |
[26] | CSR efforts | Shareholder perceptions of TMT | CSR industry norms (Moderator) | S&P 1500 firms, shareholder simulations | CSR efforts shape perceptions of TMT’s moral character and remuneration acceptance |
[27] | TMT composition | Firm performance | GHG emission strategy (Mediator), Organizational slack (Moderator) | Taiwanese public companies | TMT tenure and educational background heterogeneity negatively affect firm performance |
[28] | Gender diversity of TMT | CSR | Marketization level (Moderator) | 17,032 manager-year observations from Chinese firms | Negative relation between CSR and female managers, moderated positively by marketization level |
[29] | Managerial entrenchment | CSR | Women in TMT (Moderator) | 300 UK listed firms (2005–2017) | Positive correlation between managerial entrenchment and CSR, moderated by women in TMT |
[30] | TMT and CEO considerations | CSP | CSR reporting (Mediator) | Publicly traded firms with CSR reports | CSR reports mediate the reduction of corporate social irresponsibility (CSI) |
[31] | Chief Sustainability Officer (CSO) in TMT | Corporate social performance (CSP) | - | S&P 500 companies (2005–2014) | Presence of CSO improves CSR performance and reduces CSiR |
[32] | TMT career development | CSR | Firm ownership (Moderator) | Chinese manufacturing enterprises | TMT’s international experience and educational background are linked to CSR success |
[33] | TMT tenure | Firm employee CSR | - | U.S. airlines (1998–2013) | Inverse U-shaped relation between TMT tenure and employee-related CSR |
[34] | CEO or TMT experience | CSR (environment, community, product, employee relations, diversity) | TMT and CEO-level controls | 100 U.S. industrial machinery companies (1998–2008) | TMT output experience complements CEO experience, with no impact on environmental CSR |
[35] | TMT age heterogeneity | CSR | TMT interaction and education (Moderator) | Chinese listed companies (2008–2012) | Inverse U-shaped relation between CSR and TMT age heterogeneity, moderated by TMT interaction but not education |
[36] | Chief officer of CSR | TMT impact on firm performance | - | U.S. listed businesses | Hiring a CSR chief officer improves financial performance, especially if female |
[37] | Women in TMT | CSR disclosure | - | 88 Indonesian banks | Female executives positively influence CSR disclosure |
[38] | TMT age, tenure, education, stock options | CSR | - | U.S. airlines (1998–2013) | Age and stock options are crucial for CSR, with stock options having a negative impact |
[39] | Board and TMT composition, ownership | CSP | Firm size (Control) | 471 Chinese firms | Positive relation between board/TMT composition and CSR performance |
[40] | TMT process | Firm performance (FP) | CSR (Mediator) | 203 lodging firms in Southeast China | TMT process and CSR mediate the positive link between TMT process and firm performance |
[41] | TMT position | CSR | 85 companies from the US and Scandinavia | CSR TMT positions are more common in Scandinavian companies than in US organizations. | |
[42] | Board gender diversity and foreign ownership | CSR performance | Interaction of gender diversity and foreign ownership (Moderator) | Chinese listed firms and stock exchange databases, CSR reports | Board gender diversity and foreign ownership both positively impact CSR performance. |
Topic | Findings | Citations |
---|---|---|
Diversity in TMT and CSR | Studies suggest a positive correlation between gender diversity in TMT and CSR outcomes, indicating that diverse perspectives in leadership contribute to better CSR performance. | [22,42] |
Media Exposure and CSR | TMT media exposure positively influences CSR initiatives, moderated by TMT power and political connections, highlighting the importance of strategic communication in CSR. | [20] |
Educational Background and CSR Performance | Educational background heterogeneity in TMT may negatively impact CSR and business performance, indicating a need for a balanced mix of educational backgrounds for effective CSR strategies. | [35] |
TMT Stability and CSR | TMT stability is associated with sustainable CSR practices, with stable TMTs contributing positively to CSR performance, emphasizing the importance of consistent leadership in shaping corporate responsibility. | [6,24] |
Role of Chief Sustainability Officer (CSO) | The presence of a CSO in TMT is linked to higher CSR and reduced corporate social irresponsibility, underscoring the strategic role of dedicated sustainability leadership in shaping CSR outcomes. | [31] |
Impact of Functional Background in TMT | The functional background of TMT members plays a crucial role in shaping various aspects of CSR, such as community relations and employee diversity, with diverse functional expertise contributing to a comprehensive CSR strategy. | [34] |
Influence of Ownership and Financial Expertise | The ownership structure of a company can modify the connection between TMT characteristics and CSR efforts, with financial expertise in TMT being particularly beneficial for CSR in non-state-owned and cash-rich organizations. | [18,32] |
TMT Tenure and CSR | TMT tenure has an inverse U-shaped association with CSR, where moderate tenure is associated with positive CSR outcomes, while extremes in tenure may hinder CSR efforts. | [33,38] |
Global Context Matters | Regional differences are evident, emphasizing the importance of considering unique contexts of different countries when analyzing the relationship between TMT characteristics and CSR. | [37,38,41] |
Role of CSR Reporting | CSR reporting serves as a crucial mediator in reducing the likelihood of corporate social irresponsibility, with companies with transparent CSR reporting mechanisms likely to demonstrate more responsible behavior. | [30] |
TMT Gender Diversity Boosts CSR | Groundbreaking research establishes a positive association between TMT gender diversity and CSR outcomes. | [29] |
TMT Heterogeneity and Firm Risk | CSR moderates the link between total TMT heterogeneity and firm systematic risk. | [16] |
Financial Experience Influence | Senior executives’ financial experience positively impacts CSR. | [5,18] |
Gap | Rationalization | |
---|---|---|
Personality Traits and CSR Influence | Limited exploration of how individual attributes, particularly personality traits within TMT members, influence CSR. | Understanding the interplay between individual-level characteristics and group decision-making can optimize TMT composition for enhanced CSR outcomes. |
TMT Dynamics, Composition, and CSR Initiatives | Incomplete comprehension of how TMT dynamics, and composition (including expertise and ethnicity diversity), impact the development and application of CSR initiatives. | Further research is essential to unravel the nuanced ways in which diverse TMTs shape CSR strategies and decision-making processes. |
CEO–TMT Relationship and CSR Impact | Limited exploration of the CEO–TMT relationship in the context of CSR efforts. | Investigating the impact of CEO–TMT interactions on CSR performance and sustainability initiatives can provide crucial insights into fundamental business dynamics. |
Balancing CSR Objectives and Short-Term Profits | Scarcity of research on how TMTs navigate the balance between long-term CSR objectives and short-term profits. | Exploring how TMTs manage this dilemma can shed light on factors influencing CSR adoption within the challenging landscape of conflicting priorities. |
TMTs Navigating Regulatory Shifts and Societal Standards | Limited analysis of how TMTs adapt to evolving CSR-related regulatory frameworks and societal standards. | Understanding how TMTs acquire new skills, share information, and modify CSR tactics over time is crucial for firms navigating a dynamic CSR landscape. |
Cross-Cultural Dynamics in TMTs and CSR Practices | Insufficient exploration of how TMTs with diverse cultural backgrounds influence CSR performance and handle cross-cultural challenges in a global setting. | Recognizing the impact of cross-cultural variations on TMT roles and CSR practices is vital for businesses operating in diverse global environments. |
TMT Performance Measures and CSR Accountability | Limited investigation into the impact of TMT performance measures and accountability systems on CSR outcomes. | Gaining insights into TMTs’ CSR performance evaluation and incentive systems can enhance the understanding of sustainability commitment within organizations. |
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Hąbek, P.; Saeed, F. Exploring the Relationship between Top Management Team Characteristics and Corporate Social Responsibility: A Literature Review and Bibliometric Analysis. Sustainability 2024, 16, 8563. https://doi.org/10.3390/su16198563
Hąbek P, Saeed F. Exploring the Relationship between Top Management Team Characteristics and Corporate Social Responsibility: A Literature Review and Bibliometric Analysis. Sustainability. 2024; 16(19):8563. https://doi.org/10.3390/su16198563
Chicago/Turabian StyleHąbek, Patrycja, and Fizza Saeed. 2024. "Exploring the Relationship between Top Management Team Characteristics and Corporate Social Responsibility: A Literature Review and Bibliometric Analysis" Sustainability 16, no. 19: 8563. https://doi.org/10.3390/su16198563
APA StyleHąbek, P., & Saeed, F. (2024). Exploring the Relationship between Top Management Team Characteristics and Corporate Social Responsibility: A Literature Review and Bibliometric Analysis. Sustainability, 16(19), 8563. https://doi.org/10.3390/su16198563