管理者从军经历与企业战略性慈善捐赠

Senior Executives' Military Experiences and Corporate Strategic Philanthropy

文章从高管从军经历出发,探讨管理者早期经历对于企业战略性慈善捐赠行为的影响,以2007-2014年A股15527个上市公司的年度观测值作为样本。研究发现,高管拥有从军经历会影响企业的慈善捐赠这一非市场战略,慈善捐赠显著较少,且基于资源禀赋的差异,在国有企业中这种现象尤为明显;进一步,文章还发现在垄断行业和非直接接触消费者的国有企业中,高管从军经历对企业慈善捐赠的影响更加明显。文章跳出市场行为的框架,从非市场行为的视角,拓展了以往高管从军经历对企业行为影响的研究,同时结合高管早期经历与企业资源依赖理论,为企业慈善捐赠提供更加深入的战略性证据。

This paper discusses the effect of executives'military experiences on the corporate strategic philanthropy.Based on the 15,527 observations of A-share listed companies from 2007 to 2014,it finds out that relatively to the firms with non-military experience executives,the firms with military experience senior executives have a fewer nonmarket activities,mainly reflected in their significantly fewer charitable donation,especially in the state-owned enterprises based on the difference in their resource endowments.Furthermore the paper finds out that the effect of executives'military experiences on the corporate charitable donation is much more significant in the monopolized industry and those state-owned enterprises which is not direct contacting with the consumers or those indirect contacting with consumers.The paper expends the former study of the effect of executives'military experiences on the corporate behavior from the nonmarket perspective rather than the market behavior framework,and then it provides some deepgoing strategic evidences for the enterprise charitable donation combined with executives'early experiences and the enterprise resource dependence theory.