高管团队中垂直对特征影响企业捐赠的实证研究

An Empirical Research on the Impacts of Vertical Dyad Linkage Characteristics in Top Management Team on Corporate Philanthropy

利用2007-2013年沪深两市A股制造行业上市公司的捐赠数据样本,实证检验了高管团队-董事长垂直对人口特征差异对企业捐赠水平的影响。研究结果表明当高管团队与董事长存在性别差异、高管团队平均年龄大于董事长、高管平均学历大于董事长时,企业的捐赠水平更高。但任期垂直对差异和专业背景垂直对差异对企业捐赠的影响却不显著。本文的研究结论在优化企业捐赠决策,完善高管团队构成以及丰富高层梯队理论的研究内容上具有一定的启示意义。

This paper selects the donation data of manufacturing listed companies of Shanghai and Shenzhen A-share during 2008-2013 as sample, conducts empirical research about how the vertical dyad linkage characteristics of top management team and the president affect the corporate philanthropy. The results showed that, when there are gender differences between top management team and the chairman of the board, the average degree of top management team is higher than the chairman, and. the average tenure of top management team is longer than the chairman of the board, the level of enterprises＇ charitable giving will be higher. But the vertical differences of tenure and professional background have nothing to do with the enterprise level of charitable giving. This research conclusion has certain enlightenment significance for optimizing the enterprise donation decisions, improving the composition of executive team and enriching the upper echelon theory.