高管特征与企业社会捐赠——基于浙江上市公司2009—2013年的经验证据

Executives' Characteristics and Corporates' Social Donations —— Based on Empirical Evidence of Zhejiang Listed Companies in 2009-2013

以浙江上市公司2009—2013年数据为样本,对高管特征是否影响以及如何影响企业的社会捐赠进行了实证研究。研究发现,高管的受教育程度越高,其所在企业的社会捐赠越多;高管是女性的企业,其社会捐赠会更多;此外,股份性质是国有、独立董事规模越大的企业的社会捐赠越多,企业成长性则与社会捐赠显著负相关。

Using the 2009-2013 data of Zhejiang listed companies as samples, this empirical study has analyzed wheth-er and how senior executives' characteristics affect companies' social donations. The study finds that executives of thehigher education level, the more the companies' social donation whilst executives' gender is female, the companies' so-cial donation will be more. In addition, the nature of the company shares is state-owned, the companies' social donationwill be more; the bigger the scale of independent directors, the more the companies' social donation; the business growthis significantly negatively correlated to social donation.