Does CEO social capital affect corporate ESG performance?

This paper empirically examines the relationship between CEO (Chief Executive Officer) social capital and corporate ESG (Environment, Social and Governance) performance. Using a sample of A-share listed companies in Shanghai and Shenzhen from 2010 to 2020, the paper finds a negative correlation between CEO social capital and corporate ESG performance. In addition, we also consider how the firm's market trading activity and CEO duality moderates the impact of CEO social capital on firms' ESG, and both are concluded to be positively moderated.