Abstract
Drawing on the psychology of names, this study examines whether a CEO having a given name that has a moral meaning (a moral name) affects corporate investment decisions on environmental protection. We find that a CEO having a moral name plays a significant role in increasing a firm's green investment. Further analysis shows that this positive relationship is more pronounced for state-owned firms. When CEOs' economic incentives are increased, the positive effect of CEOs' moral names on green investment is reduced. Overall, our findings suggest that given names with moral meanings have implications for the moral behavior of executives.
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