Carryforward Effects of CSR Champions

Accounting Horizons, Forthcoming,

Posted: 5 May 2020 Last revised: 27 Jul 2020

See all articles by Nancy Chun Feng

Nancy Chun Feng

Suffolk University

Mahfuja Malik

Boston University; Sacred Heart University

Date Written: April 8, 2020


This study investigates whether executives of socially responsible firms carry forward corporate social policies when they move to different firms. In order to identify the carryforward effects of top executives on corporate social responsibility (CSR) policies, we construct a data set by tracking the movements of executives across firms. We designate top executives as CSR Champions if their firms demonstrate superior-quality CSR practices. We find that the entrance of a CSR Champion into a new firm improves its CSR performance, and we label these incremental effects CSR-Carryforward Effects. Our findings are stronger in firms with poor past CSR performance. Overall, this study extends the executive and CSR-related literature by documenting that executives of socially responsible firms have positive CSR-related effects on their new firms.

Keywords: corporate social responsibility; executives’ influence; executives’ personal traits

JEL Classification: M12; M14

Suggested Citation

Feng, Nancy Chun and Malik, Mahfuja, Carryforward Effects of CSR Champions (April 8, 2020). Accounting Horizons, Forthcoming, , Available at SSRN:

Nancy Chun Feng (Contact Author)

Suffolk University ( email )

120 Tremont St
Boston, MA 02108
United States
617-573-8719 (Phone)

Mahfuja Malik

Boston University ( email )

595 Commonwealth Avenue
Boston, MA 02215
United States

Sacred Heart University ( email )

5151 Park Ave
Fairfield, CT 06432
United States

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