慈善组织特征、信息披露与捐赠收入

Characteristics of Charitable Organizations, Information Disclosure and Donation Income

以2006-2012年我国慈善组织为样本数据,研究结果发现:规模越大、组织越复杂、管理效率越高、资产负债率越低、成立时间越长、注册在发达地区、教育类、私募性质的慈善组织信息披露质量越好;将信息披露分解为财务信息、业绩信息和年度信息三个指标后,组织规模和组织复杂性对三类信息均产生影响,但管理效率仅对财务信息和业绩信息产生影响;高质量信息披露能显著增加慈善组织的捐赠收入,尤其是财务信息和业绩信息,这说明信息披露在慈善组织资源分配中具有价值相关性。

Taking the data of China＇s charitable organizations from 2006 to 2012 as the samples, the results of the study show that the charitable organizations with larger size, more complicated orga- nizational structures, higher managerial effectiveness, lower debt-to-asset ratio, longer established time, registered in more advanced regions, belonging to education section or having private placement nature have better quality in their information disclosure. When the information disclosure is decomposed into the three indexes of financial information, performance information, and annual information, the size and complexity of the organizations will have influences on the three kinds of information, while the managerial effectiveness only have influence on financial information and performance information. High quality information disclosure can significantly increase donation income, especially financial information and performance information. These facts indicate that information disclosure has value relevance in resource distribution of charity organizations.