ABSTRACT
This chapter investigates how CEO's and director's risk-taking behavior relates to the environmental performance of Swedish listed firms. Prior research identifies both profit-seeking and non-profit motives for environmental performance. The profit-seeking view regards environmental and social efforts as a way to increase competitive advantage and improve financial performance of the firm by doing good while doing well. The non-profit motives are driven by philanthropic and altruistic managers acting in accordance with their own values consuming corporate goodness as a perk or using it as an entrenchment device. More importantly, philanthropy is the part of CEO branding strategy. The CEO is in charge of the company's business development, leads and coordinates the daily operation in accordance with the decisions of the board of directors. Besides strategic decision-making, the board is also responsible for advising and monitoring the CEO. Together the CEO and the board share responsibility for the environmental performance of the firm.
