CEO Education and Corporate Environmental Footprint
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CEO Education and Corporate Environmental Footprint. / Amore, Mario Daniele; Bennedsen, Morten; Larsen, Birthe; Rosenbaum, Philip.
In: Journal of Environmental Economics and Management, Vol. 94, 04.02.2019, p. 254-273.Research output: Contribution to journal › Journal article › Research › peer-review
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TY - JOUR
T1 - CEO Education and Corporate Environmental Footprint
AU - Amore, Mario Daniele
AU - Bennedsen, Morten
AU - Larsen, Birthe
AU - Rosenbaum, Philip
PY - 2019/2/4
Y1 - 2019/2/4
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 seek to 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 largely driven by advanced education in business degrees. Moreover, we show that CEO education is associated with greater 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 seek to 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 largely driven by advanced education in business degrees. Moreover, we show that CEO education is associated with greater 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.
KW - Faculty of Social Sciences
KW - CEOs
KW - Education
KW - Climate Change
KW - Energy Efficiency
U2 - 10.1016/j.jeem.2019.02.001
DO - 10.1016/j.jeem.2019.02.001
M3 - Journal article
VL - 94
SP - 254
EP - 273
JO - Journal of Environmental Economics and Management
JF - Journal of Environmental Economics and Management
SN - 0095-0696
ER -
ID: 214644982