家族所有权如何影响家族企业慈善捐赠行为?——基于A股上市公司研究

How does Family Ownership Affect the Charitable Donation of Family Enterprises?——Research on A-share Listed Companies

随着民营企业的崛起,民营经济已经成为中国慈善事业的主要力量,民营企业特别是家族企业在履行社会责任中扮演了重要角色。选取A股上市家族企业数据,实证分析家族所有权影响家族企业慈善捐赠行为的作用机理,结果表明:家族股权、管理权与企业慈善捐赠基本呈正相关关系;股权制衡度可正向调节家族所有权与企业慈善捐赠的关系;家族企业及董事长的特征也与企业慈善捐赠行为存在显著的关系。

With the rise of private enterprises, private economy has become the main force of China’s philanthropy. Private enterprises, especially family enterprises, play an important role in fulfilling social responsibilities. Based on the data of A-share listed family enterprises, this paper empirically analyzes the mechanism of family ownership affecting family enterprises’ charitable donations. The results show that: family equity, management right and corporate charitable donations are basically positively correlated. Equity balance can positively regulate the relationship between family ownership and corporate charitable donations. The characteristics of the family and the chairman of the board of directors are also significantly related to corporate charitable donations.