CEO Education and Corporate Environmental Footprint

Mario Daniele Amore, Morten Bennedsen, Birthe Larsen, Philip Rosenbaum

Publikation: Bidrag til konferencePaperForskningpeer review

Resumé

We analyze the effect of CEO education on environmental decision-making. Using a unique sample of Danish firms from 1996 to 2012, we find that CEO education significantly improves firms’ energy efficiency. We derive causality using health shocks: the hospitalization of highly educated CEOs induces a drop in energy efficiency, whereas the hospitalization of less educated CEOs does not have any significant effect. Exploring the mechanisms at play, we show that our results are driven by the length rather than the field of education. CEO education improves corporate energy efficiency through personal environmental awareness: highly educated CEOs exhibit greater concerns for climate change, as measured by a survey of social preferences, and drive more environmentally-efficient cars. Taken together, our findings suggest that education shapes managerial styles giving rise to greater sustainability in corporate actions.
We analyze the effect of CEO education on environmental decision-making. Using a unique sample of Danish firms from 1996 to 2012, we find that CEO education significantly improves firms’ energy efficiency. We derive causality using health shocks: the hospitalization of highly educated CEOs induces a drop in energy efficiency, whereas the hospitalization of less educated CEOs does not have any significant effect. Exploring the mechanisms at play, we show that our results are driven by the length rather than the field of education. CEO education improves corporate energy efficiency through personal environmental awareness: highly educated CEOs exhibit greater concerns for climate change, as measured by a survey of social preferences, and drive more environmentally-efficient cars. Taken together, our findings suggest that education shapes managerial styles giving rise to greater sustainability in corporate actions.

Konference

KonferenceEconomic Policy Research Network konference
LokationØkonomisk Institut, Københavns Universitet
LandDanmark
ByKøbenhavn
Periode22/06/201723/06/2017

Bibliografisk note

CBS Bibliotek har ikke adgang til materialet

Citer dette

Amore, M. D., Bennedsen, M., Larsen, B., & Rosenbaum, P. (2017). CEO Education and Corporate Environmental Footprint. Afhandling præsenteret på Economic Policy Research Network konference
, København, Danmark.
Amore, Mario Daniele ; Bennedsen, Morten ; Larsen, Birthe ; Rosenbaum, Philip. / CEO Education and Corporate Environmental Footprint. Afhandling præsenteret på Economic Policy Research Network konference
, København, Danmark.43 s.
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Amore, MD, Bennedsen, M, Larsen, B & Rosenbaum, P 2017, 'CEO Education and Corporate Environmental Footprint' Paper fremlagt ved Economic Policy Research Network konference
, København, Danmark, 22/06/2017 - 23/06/2017, .

CEO Education and Corporate Environmental Footprint. / Amore, Mario Daniele; Bennedsen, Morten; Larsen, Birthe; Rosenbaum, Philip.

2017. Afhandling præsenteret på Economic Policy Research Network konference
, København, Danmark.

Publikation: Bidrag til konferencePaperForskningpeer review

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AU - Amore,Mario Daniele

AU - Bennedsen,Morten

AU - Larsen,Birthe

AU - Rosenbaum,Philip

N1 - CBS Library does not have access to the material

PY - 2017

Y1 - 2017

N2 - We analyze the effect of CEO education on environmental decision-making. Using a unique sample of Danish firms from 1996 to 2012, we find that CEO education significantly improves firms’ energy efficiency. We derive causality using health shocks: the hospitalization of highly educated CEOs induces a drop in energy efficiency, whereas the hospitalization of less educated CEOs does not have any significant effect. Exploring the mechanisms at play, we show that our results are driven by the length rather than the field of education. CEO education improves corporate energy efficiency through personal environmental awareness: highly educated CEOs exhibit greater concerns for climate change, as measured by a survey of social preferences, and drive more environmentally-efficient cars. Taken together, our findings suggest that education shapes managerial styles giving rise to greater sustainability in corporate actions.

AB - We analyze the effect of CEO education on environmental decision-making. Using a unique sample of Danish firms from 1996 to 2012, we find that CEO education significantly improves firms’ energy efficiency. We derive causality using health shocks: the hospitalization of highly educated CEOs induces a drop in energy efficiency, whereas the hospitalization of less educated CEOs does not have any significant effect. Exploring the mechanisms at play, we show that our results are driven by the length rather than the field of education. CEO education improves corporate energy efficiency through personal environmental awareness: highly educated CEOs exhibit greater concerns for climate change, as measured by a survey of social preferences, and drive more environmentally-efficient cars. Taken together, our findings suggest that education shapes managerial styles giving rise to greater sustainability in corporate actions.

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Amore MD, Bennedsen M, Larsen B, Rosenbaum P. CEO Education and Corporate Environmental Footprint. 2017. Afhandling præsenteret på Economic Policy Research Network konference
, København, Danmark.