This study examines the impact of chief executive officer ability on firms’ corporate social responsibility performance. We find that firms’ CSR performance increases with CEO ability. Specifically, firms with more able CEOs are associated with more socially responsible activities and fewer socially irresponsible activities, and are associated with more stakeholder CSR rather than third-party CSR. We further find that the positive relation between CEO ability and CSR is weakened for CEO who is also the chair of the board and for (...) CEO who is close to retirement; and is weakened when the CSR emphasis exerted by a firm’s external environment is high. Our results are robust after controlling for firm fixed effects and to the use of multiple measures of CSR performance and CEO ability. Overall, our evidence is consistent with our conjecture that more able CEOs have less career concerns so that these CEOs are more willing to undertake long-term investments in socially beneficial activities, leading to better CSR performance. (shrink)

Theoretical studies suggest that, when determining the workplace safety level, CEOs face a trade-off between ex ante safety-improving expenditures and the expected losses due to ex post injury and illness occurrences. We examine whether firms with higher CEO inside debt holdings have safer workplaces. Using establishment-level employee workplace injury and illness data, we find that CEOs’ inside debt holdings are negatively associated with employee workplace injury and illness cases. This relationship is more pronounced if workers’ compensation premiums are more sensitive (...) to injury claims and for firms with more government business and less pronounced for firms with higher levels of secured debt. We provide some evidence that our main result stems from CEOs increasing safety investments. Our empirical results are shown to be robust under a batch of robustness tests and when considering potential endogeneity problems. Our findings suggest that CEOs with higher levels of inside debt holdings are more sensitive to wealth loss due to employee injury and illness, leading to a safer workplace. (shrink)

This study examines the relation between a firm’s business strategy and its corporate social responsibility performance. Using a comprehensive measure of business strategy based on the Miles and Snow theoretical framework, we find that firms following an innovation-oriented strategy are associated with better CSR performance than those following an efficiency-oriented strategy. Specifically, compared with defenders, prospectors engage in more socially responsible activities, fewer socially irresponsible activities, and perform better in both stakeholder- and third-party-related CSR areas. Taken together, our results suggest (...) that business strategy is an important determinant of CSR performance. Prospectors take advantage of CSR, as their innovation-oriented strategy allows them not only to benefit more from CSR, but also to have more tolerance for the uncertainty, risk, and long time-horizon associated with CSR engagement. (shrink)

This study investigates how managers in firms that have committed fraud strategically use socially responsible activities in coordination with their fraudulent financial reporting practices. Using propensity score matching to select control firms that have a similar probability of fraud in the pre-fraud benchmark period, we find that the corporate social responsibility performance of fraudulent firms in the fraud-committing period is significantly higher compared with the CSR performance of non-fraudulent control firms during this period, and compared with that during their own (...) pre-fraud benchmark periods. This higher CSR performance by fraudulent firms is achieved by means of investing in both stakeholder and third-party CSR categories and by improving in CSR strengths. Furthermore, the increase in CSR performance is more pronounced for fraudulent firms with a weak governance environment, and for firms located in high-religiosity states. Overall, our findings suggest that fraudulent firms strategically adjust their CSR performance to coordinate with their fraudulent financial activities. (shrink)

This study examines the conditions under which local social environments are likely to influence corporate tax behavior. Using a social capital index at the county level, we find that on average, social capital reduces firms’ aggressive tax avoidance behavior. The impact of social capital on corporate tax avoidance is weaker when managers are under excessive pressure to meet earnings targets, during the periods of financial constraints, and when managers are incentivized to undertake risk. We further find that corporate tax avoidance (...) activities engaged by firms headquartered in high-social-capital counties tend to be less value-increasing, indicating that potential social sanctions in these areas may reduce the benefits of tax avoidance activities accrue to firms. However, the negative impact of tax avoidance on firm value in high-social-capital counties tends to be lower for firms with strong corporate governance, which suggests that managers in well-governed firms can better exploit tax avoidance opportunities. Overall, our evidence is consistent with our conjecture that although the local social environments have a significant influence on corporate tax behavior, this influence is fragile in the presence of excessive earnings pressure, financial constraints, and equity risk incentives. (shrink)

Previous studies have noted that personality traits are important predictors of well-being, but how big five personality influences social well-being is still unknown. This study aims to examine the link between big five personality and five dimensions of social well-being in the Chinese cultural context and whether social support can play the mediating effect in the process. This study included 1,658 participants from different communities in China, and regression analyses were conducted. Results revealed that five personality traits were significantly related (...) to overall social well-being; extraversion was significantly related to social integration; agreeableness was positively related to all five dimensions of social well-being; conscientiousness was positively related to social actualization, social coherence, and social contribution; neuroticism was negatively related to social integration, social acceptance, social actualization, and social coherence; openness was positively related to social integration, social acceptance, social coherence, and social contribution. Social support plays mediating roles in the relationships between extraversion/agreeableness/conscientiousness/neuroticism/openness and social well-being, respectively. (shrink)

ObjectiveType 2 diabetes mellitus (T2DM) is a high risk of cognitive decline and dementia, but the underlying mechanisms are not yet clearly understood. This study aimed to explore the functional connectivity (FC) and topological properties among whole brain networks and correlations with impaired cognition and distinguish T2DM from healthy controls (HC) to identify potential biomarkers for cognition abnormalities.MethodsA total of 80 T2DM and 55 well-matched HC were recruited in this study. Subjects’ clinical data, neuropsychological tests and resting-state functional magnetic resonance (...) imaging data were acquired. Whole-brain network FC were mapped, the topological characteristics were analyzed using a graph-theoretic approach, the FC and topological characteristics of the network were compared between T2DM and HC using a general linear model, and correlations between networks and clinical and cognitive characteristics were identified. The support vector machine (SVM) model was used to identify differences between T2DM and HC.ResultsIn patients with T2DM, FC was higher in two core regions [precuneus/posterior cingulated cortex (PCC)_1 and later prefrontal cortex_1] in the default mode network and lower in bilateral superior parietal lobes (within dorsal attention network), and decreased between the right medial frontal cortex and left auditory cortex. The FC of the right frontal medial-left auditory cortex was positively correlated with the Montreal Cognitive Assessment scales and negatively correlated with the blood glucose levels. Long-range connectivity between bilateral auditory cortex was missing in the T2DM. The nodal degree centrality and efficiency of PCC were higher in T2DM than in HC (P < 0.005). The nodal degree centrality in the PCC in the SVM model was 97.56% accurate in distinguishing T2DM patients from HC, demonstrating the reliability of the prediction model.ConclusionFunctional abnormalities in the auditory cortex in T2DM may be related to cognitive impairment, such as memory and attention, and nodal degree centrality in the PCC might serve as a potential neuroimaging biomarker to predict and identify T2DM. (shrink)

Aiming at the vulnerability of wireless network, this paper proposed a method of WiFi penetration testing based on Kali Linux which is divided into four stages: preparation, information collection, simulation attack, and reporting. By using the methods of monitoring, scanning, capturing, data analysis, password cracking, fake wireless access point spoofing, and other methods, the WiFi network penetration testing with Kali Linux is processed in the simulation environment. The experimental results show that the method of WiFi network penetration testing with Kali (...) Linux has a good effect on improving the security evaluation of WiFi network. (shrink)

Both corruption and subjective wellbeing are of concern to academics and governments. Although some evidence suggests that corruption deteriorates subjective wellbeing, the relationship between perception of official corruption and subjective wellbeing is still unknown. This study aims to examine the link between perceived official corruption and subjective wellbeing in the context of China and whether satisfaction with government performance has a mediating effect in the process. Based on data from China General Social Survey, a structural equation model was used to (...) test the hypotheses. The results of 3,033 Chinese respondents suggest that perception of official corruption is negatively related to subjective wellbeing, and satisfaction with government performance plays a mediating role in the relationship between perception of official corruption and subjective wellbeing. (shrink)

This study presents an evolutionary game to model interactions among stakeholders with potential conflicts, including the operational enterprise of incineration plant, the local government, and the residents nearby. System dynamics is used to simulate the change of strategic actions corresponding to the three players, in order to seek for the evolutionary stability strategies. A numerical case is proposed to demonstrate the game theory application, in which the impacts of governmental incentive and punishment on the player’s actions are investigated. The results (...) indicated that administrative penalty is effective not only in motivating the enterprises to upgrade treatment facilities for ensuring environmental quality but also in helping the local government and residents to approach dominant strategies. Policy implications are given based on the results to lay out a foundation for the alleviation of the conflicts. (shrink)