摘要
中国公司捐赠主要是经理人员自利行为还是价值提升行为,文章利用"5.12汶川大地震"后上市公司的捐赠数据进行了检验。研究发现,消费者口碑敏感型行业公司和高毛利率公司,其捐赠比例更高、捐赠更及时、捐赠金额更大,而捐赠与否、捐赠及时性和捐赠力度还与公司盈利状况正相关。研究结论表明公司捐赠更多地体现了价值提升的理性动机。
It is interesting whether Chinese corporate donations mainly result from managerial discretion or value enhancement, and we give some evidences based on corporate donations aftermath the 5 - 12 Wenchuan earthquake. We find that firms sensitive to consumer trust and firms with high margin give donations more easily, more timely and with more amounts, and the donation amounts also depend on corporate profit and financial conditions. These evidences support the value enhancement hypothesis.
出处
《上海立信会计学院学报》
北大核心
2011年第1期17-26,共10页
Journal of Shanghai Lixin University of Commerce
基金
教育部人文社会科学研究项目(08JC790019)
关键词
公司捐赠
经济理性
公司治理
corporate donations
economic rationality
corporate governance
