Abstract
Nowadays, humanity faces a serious issue of creating conditions for sustainable development. Businesses as a integral part of society in which they exist and operate, may potentially play a crucial role in achieving this goal. Their contribution to sustainable development can be made through support and empowerment of ecosystems. As CEO is an intermedium between a company and the society, his characteristics may significantly influence company’s strategic decisions and therefore, its level of involvement in ensuring sustainability. In this paper, we analyze the presence of interdependence between CEO personal characteristics and amounts of investments in ecological CSR projects. We consider the level of company’s ecological investments as a measure for the level of its ecological responsibility. We run a multiple regression on a sample of 44 Russian companies, who publish information on ecological projects implementation in non-financial reports. Despite a number of substantial limitations, we managed to reveal the connection with some of professional activity and education characteristics of CEOs. We also controlled for company size and industry parameters. The most notable result is a reverse interrelation between CEO tenure (in years) and the level of investments in ecological CSR projects. This may be due to the fact that less experienced directors seek to reinforce their business reputation and accumulate social capital.
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