Do Returnee Executives Value Corporate Philanthropy? Evidence from China

Zhang, Lin; Xu, Yiru; Chen, Honghui

doi:10.1007/s10551-021-04870-9

Cited by 28 publications

(55 citation statements)

References 108 publications

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“…(2021) find Chinese private firms tend to use charitable donations as a tool to cover up environmental misconduct. Zhang et al. (2021) find that the higher the proportion of returnee executives in Chinese companies, the lower the corporate philanthropic donations.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 87%

“…Wu et al (2021) find Chinese private firms tend to use charitable donations as a tool to cover up environmental misconduct. Zhang et al (2021) find that the higher the proportion of returnee executives in Chinese companies, the lower the corporate philanthropic donations. Chen et al (2016) prove that Chinese firms with more charitable giving are more inclined to maintain their reputation and are less likely to be "hollowed out" by controlling shareholders.…”

Section: Literature Reviewmentioning

confidence: 87%

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Corporate social responsibility and firm value: evidence from Chinese targeted poverty alleviation

Huang

Shang

Wang

et al. 2022

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PurposeWhilst the relationship between corporate social responsibility (CSR) and corporate financial performance has been well documented, CSR has rarely been studied from the perspective of corporate poverty alleviation. This study aims to test whether participation in targeted poverty alleviation (TPA) affects firms' market value and to explore how the magnitudes of market value vary in different CSR environments.Design/methodology/approachBased on recent Chinese TPA initiatives and on 108 TPA announcements of Chinese-listed firms from 2016 to 2020, this study adopts an event study method to investigate the impact of firm's TPA announcements on the firm's market value. Then, the authors construct a cross-sectional regression to analyse different CSR factors that may affect market reactions.FindingsThe results demonstrate that TPA announcements can increase a firm's overall market value. Additionally, the results show that TPA way and firm ownership significantly moderate the market reaction, namely the positive reaction is more significant when the TPA announcements involve charity poverty alleviation rather than industrial poverty alleviation and for privately owned firms rather than state-owned firms.Practical implicationsThe empirical results help TPA practitioners obtain a nuanced understanding of whether and when to participate in poverty alleviation is worthwhile. This study also provides a reference for poverty alleviation work in countries with similar backgrounds.Originality/valueThis study not only provides empirical evidence for the consequences of poverty alleviation behaviour of firms in developing countries, but also complements the field of CSR research in developed countries.

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Section: Literature Review and Hypotheses Developmentmentioning

confidence: 87%

Section: Literature Reviewmentioning

confidence: 87%

Corporate social responsibility and firm value: evidence from Chinese targeted poverty alleviation

Huang

Shang

Wang

et al. 2022

View full text Add to dashboard Cite

show abstract

“…Corporate philanthropy is highly related to executives' characteristics. For example, returnee executives (Zhang et al, 2022) and CEOs with prior military experience (Luo et al, 2017) make fewer donations. In contrast, CEOs with childhood experiences of famine tend to make more philanthropic donations (Han et al, 2022).…”

Section: Corporate Charitable Donationsmentioning

confidence: 99%

Customer concentration and corporate charitable donations: Evidence from China

2022

Manage Decis Econ

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This study examines the impact of customer concentration on corporate charitable donations. Drawing on stakeholder and resource dependency theories, we argue that when firms rely on a small set of customers for a significant proportion of sales revenue, they will reduce corporate charitable donations. State ownership and industry competition moderate this relationship. Using data on corporate donations from Chinese listed firms between 2009 and 2019, we find support for our hypotheses. Our study contributes to the literature on customer concentration and corporate philanthropy in emerging economies.

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“…The first is analyzing the effect of CEO or other senior leaders on CP from the individual level. The main factors studied include gender, personality of the leader, professional background, social connections, discretion, and values ( Campbell et al, 1999 ; Williams, 2003 ; Zhang et al, 2021 ). The second examines the factors that affect CP from the perspective of enterprise characteristics, which include corporate property rights, resources, size, debt ratio, advertising expenditure, geographic location, labor intensity, culture, R&D intensity and corporate history etc.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

The Functions of the Board of Directors in Corporate Philanthropy: An Empirical Study From China

Pan

Huang

2022

Front. Psychol.

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As an important way for enterprises to fulfill social responsibility, corporate philanthropy (CP) has attracted much attention from the academic community. But there are still few well-targeted theoretical and empirical studies on what functions the board of directors (BOD) should perform to better fulfill philanthropic responsibilities. Taking this deficiency as a breakthrough, this study focuses on Chinese state-owned and private enterprises to analyze and test the functions performed by the BOD in CP. Based on the sample of Chinese A-share listed companies from 2008 to 2019, the empirical results show that the BOD of state-owned enterprises mainly performs a monitoring function in CP while that of private enterprises mainly performs a consulting function. The above findings remain valid when potential biases in the quantitative analysis are considered. Further research shows that environmental dynamism and board fault lines inhibit the performance of the above two functions. The contributions of the study include clarifying the functional characteristics of the BOD in CP and its influencing factors, revealing new theories to the formation mechanism of CP, which provide references for enterprises to optimize philanthropic decision-making. The limitation should also be emphasized that our findings are based only on Chinese contexts.

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Do Returnee Executives Value Corporate Philanthropy? Evidence from China

Cited by 28 publications

References 108 publications

Corporate social responsibility and firm value: evidence from Chinese targeted poverty alleviation

Corporate social responsibility and firm value: evidence from Chinese targeted poverty alleviation

Customer concentration and corporate charitable donations: Evidence from China

The Functions of the Board of Directors in Corporate Philanthropy: An Empirical Study From China

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