基金会信息披露质量和捐赠收入关系分析——基于中国基金会样本数据的实证分析

Impact of Quality of Foundation Information Disclosure over Donation:an Empirical Study of Chinese Foundations

捐赠收入是基金会等非营利组织的重要收入来源,以我国全国性基金会为样本的分析表明,在控制了基金会本身属性(如年限和规模)、基金会资金使用(如管理费用率和筹资费用)等影响因素后,基金会信息披露质量的提高会对基金会的捐赠收入产生显著的促进作用,但公募基金会与非公募基金会中信息披露质量对捐赠收入的影响存在差异。在公募基金会中,信息披露质量的提高正向促进了其捐赠收入,且审计质量增强了信息披露与捐赠收入的关系;但是在非公募基金会中,该结果不显著。

Donation is the most important source of income for non-profit organizations,and an empirical study on Chinese foundations has indicated that enhanced quality of foundation information disclosure contributes significantly to the donation income of the foundation,excluding the influencing factors of foundation nature like duration and size and of foundation spending in management and fundraising.Improvement of information disclosure quality significantly promotes donation to public foundations,which is further supported with well-performed audit,while improvement of information disclosure quality does not raise donation to private foundations significantly.