American Companies Run By CEOs with Daughters Spend More On CSR: New Study
by Sangeeta Haindl
Why do some of America’s largest corporations spend an extra US$59.5 million a year on corporate social responsibility? Well, new research by Professor Henrik Cronqvist at the University of Miami and Frank Yu of the China Europe International Business School suggests it’s because they’re run by CEOs who have daughters, and that where the main decision maker has a female child, the company is generally much nicer to employees. Plus, there are positive spin-off effects for the wider society as well! While prior research has shown that judges with daughters tend to vote more liberally and Congressional members with daughters are more likely to support liberal issues, particularly those concerning reproductive rights, this study is the first to show the impact having a daughter can have on the way a CEO runs a company.
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Photo Credit: Spirit-fire on Flickr
Sangeeta Haindl writes on women and children; social innovation; social enterprise and social entrepreneurs. She is the founder of Serendipity PR, in London, U.K., where she works with high-profile brands and organizations in the public, non-profit, and corporate sectors, winning awards for her work from the communications industry. She is chairman of London's leading conscious well being organisation, Alternatives, which hosts leading speakers such as Deepak Chopra, Marianne Williamson, Neale Donald Walsch and many other well-known names. She describes herself as a Spiritual Entrepreneur, Conscious Explorer; enjoying helping others, paying it forward and being a mum.
