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1.
Corporate Philanthropic Disaster Response and Ownership Type: Evidence
from Chinese Firms’ Response
to the Sichuan Earthquake 总被引:3,自引:0,他引:3
This article examines whether the charitable giving amount and likelihood of firm response to catastrophic events relate to
firms’ ownership type using a unique dataset of listed firms in China, where state ownership is still prevalent. Based on
the data of Chinese firms’ response to the 2008 Sichuan earthquake, we find that the extent of corporate contributions for
state-owned firms following this disaster is less than that for private firms. State-owned firms are also less likely to respond
in␣this disaster compared to private firms. The results also␣reveal that firm size, profitability, geography, cash resource
available, and leverage affect firms’ philanthropic disaster response behavior in China. 相似文献
2.
This article examines whether the likelihood and amount of firm charitable giving in response to catastrophic events are related
to firm advertising intensity, and whether industry competition level moderates this relationship. Using data on Chinese firms’
philanthropic response to the 2008 Sichuan earthquake, we find that firm advertising intensity is positively associated with
both the probability and the amount of corporate giving. The results also indicate that this positive advertising intensity-philanthropic
giving relationship is stronger in competitive industries, and firms in competitive industries are more likely to donate.
This study thus provides evidence suggesting that even in the wake of catastrophic events, corporate philanthropic giving
is strategic. 相似文献
3.
Corporate Charitable Contributions: A Corporate Social Performance or Legitimacy Strategy? 总被引:2,自引:0,他引:2
This study examines the relation between firms’ corporate philanthropic giving and their performance in three other social
domains – employee relations, environmental issues, and product safety. Based on a sample of 384 U.S. companies and using
data pooled from 1998 through 2000, we find that worse performers in the other social areas are both more likely to make charitable
contributions and that the extent of their giving is larger than for better performers. Analyses of each separate area of
social performance, however, indicate that the relation between giving and negative social performance (cited concerns) only
holds for the environmental issues and product safety areas. We find no significant association between corporate philanthropy
and employee relations concerns. In general, these findings suggest that corporate philanthropy may be more a tool of legitimization
than a measure of corporate social responsibility. 相似文献
4.
This paper investigates whether philanthropic giving decisions and amount of charitable giving are related to firms’ political connections and ownership type. To this end, Chinese firms listed on either the Shenzhen or Shanghai stock exchange between 2004 and 2011 are examined, where government interference in the business sector is prevalent, state ownership structure is dominant, and corporate political connections prevail. Our analyses show (1) a significant and positive relationship between political connections and the likelihood and extent of firm contributions; (2) a significant and negative relationship between state ownership and extent of firm contributions; and (3) a stronger relationship between political connections and corporate philanthropy in non-state-owned firms. These findings with regard to the relationship between corporate giving, political connections, and ownership type have important implications for understanding corporate giving behavior in China and in emerging markets in general. 相似文献
5.
The Effects of Firm Size and Industry on Corporate Giving 总被引:1,自引:0,他引:1
Recent downward trends in corporate giving have renewed interest in the factors that shape corporate philanthropy. This paper
examines the relationships between charitable contributions, firm size and industry. Improvements over previous studies include
an IRS data base that covers a much broader range of firm sizes and industries as compared to previous studies and estimation
using an instrumental variable technique that explicitly addresses potential simultaneity between charitable contributions
and profitability. Important findings provide evidence of a cubic relationship between charitable giving and firm size and
evidence of strong industry effects. The plus-minus-plus regression coefficient sign pattern for the cubic firm size model
suggests that small and large firms give more relative to total receipts with lower giving ratios among medium size firms.
One interpretation for this finding is that small firms are close to the communities they serve while high visibility creates
a need for large firm philanthropy. Strong industry effects provide evidence of inter-industry differences in giving culture
and/or different public relations requirements across industries.
Christie H. Amato (Ph.D., University of Alabama) is professor of marketing at the Belk College of Business Administration,
University of North Carolina, Charlotte. Dr. Amato's research interests lie in the area of strategic marketing, productivity,
quality of life and ethics. She has published articles in top marketing journals including: Journal of Marketing Research,
Journal of the Academy of Marketing Science, Journal of Retailing, Journal of Advertising and Journal of Business Research.
Louis H. Amato (Ph.D., University of South Carolina) is professor of economics at the Belk College of Business Administration,
University of North Carolina-Charlotte. Dr.␣Amato's research interests lie in the areas of market structure and profitability,
productivity, quality of life and ethics. He has published articles in top journals including Southern Economic Journal, Review of Industrial Organization, and Quarterly Journal of Business and Economics. 相似文献
6.
Corporate social responsibility (CSR) has become a very important issue in the business and academic communities alike. However, among various activities of CSR, corporate philanthropy has not attracted much academic effort to date. Therefore, many firms find it challenging to establish the most appropriate mix of philanthropic activities. This study tries to find the most effective strategic mix of corporate philanthropy. For this purpose, three dimensions of philanthropic activities (i.e. who, what, and to whom) are examined, along with the most effective attributes of each. The results show that consumers prefer the activities in which firms, rather than employees, donate their own products to the general public. Implications of the research results are discussed from an academic as well as from a practical standpoint. 相似文献
7.
Xingqiang Du Wei Jian Yingjie Du Wentao Feng Quan Zeng 《Journal of Business Ethics》2014,123(2):235-256
Using a sample of Chinese listed firms for the period of 2004–2010, this study examines the impact of religion on corporate philanthropic giving. Based on hand-collected data of religion and corporate philanthropic giving, we provide strong and robust evidence that religion is significantly positively associated with Chinese listed firms’ philanthropic giving. This finding is consistent with the view that religiosity has remarkable effects on individual thinking and behavior, and can serve as social norms to influence corporate philanthropy. Moreover, religion and corporate philanthropic giving have a significantly weaker (less pronounced) positive association for state-owned enterprises than for non-state-owned enterprises. The results are robust to a variety of sensitivity tests. Our results highlight religious influence on corporate philanthropic giving in contemporary China, an old traditional country with a typical communist economy. 相似文献
8.
Political dependence,social scrutiny,and corporate philanthropy: Evidence from disaster relief 下载免费PDF全文
This study explores why and how firms respond to social demands through philanthropic giving in the context of a severe natural disaster. Drawing on Marquis and Qian's organizational response model to government signals, we integrate resource dependence theory and institutional theory to build a two‐step model of organizational response to social needs, in situations of disaster relief. We argue that firms depending more on the government for support are more likely to donate in disaster relief, while firms who receive more scrutiny from the government and the general public and firms having more slack resources are likely to donate more. Evidence from Chinese listed companies' donations to the 2008 Sichuan earthquake largely supports our predictions. This study provides a more precise understanding of the corporate philanthropic decision process, decoupling the drivers of philanthropic giving, and those determining the amount given. Theoretical and practical implications are suggested. 相似文献
9.
This study examined the influence of corporate giving programs on the link between certain categories of corporate crime and corporate reputation. Specifically, firms that violate EPA and OSHA regulations should, to some extent, experience a decline in their reputations, while firms that contribute to charitable causes should see their reputations enhanced. The results of this study support both of these contentions. Further, the results suggest that corporate giving significantly moderates the link between the number of EPA and OSHA violations committed by a firm and its reputation. Thus, while a firm's reputation can be diminished through its violation of various government regulations, the extent of the decline in reputation may be significantly reduced through charitable giving. 相似文献
10.
Corporate Reputation and Philanthropy: An Empirical Analysis 总被引:6,自引:1,他引:6
This paper analyzes the determinants of corporate reputation within a sample of large UK companies drawn from a diverse range
of industries. We pay particular attention to the role that philanthropic expenditures and policies may play in shaping the
perceptions of companies among their stakeholders. Our findings highlight that companies which make higher levels of philanthropic
expenditures have better reputations and that this effect varies significantly across industries. Given that reputational
indices tend to reflect the financial performance of organizations above other factors (Fryxell, G. E. and J. Wang: 1994,
Journal of Management 20, 1–14) and that elements of the literature emphasise that discretionary aspects of social responsibility, including corporate
donations, may not be in the financial interests of organizations (e.g. Friedman, M.: 1970, “The Social Responsibility of
Business is to Increase its Profits”, New York Times Magazine, September 13), this is a significant finding. It suggests that philanthropic expenditures may play a significant role in
stakeholder management and may, in particular, lead to stakeholders holding more positive impressions of philanthropic corporations. 相似文献
11.
Does the Market Value Corporate Philanthropy? Evidence from the Response to the 2004 Tsunami Relief Effort 总被引:1,自引:0,他引:1
Dennis M. Patten 《Journal of Business Ethics》2008,81(3):599-607
This study investigates the market reaction to corporate press releases announcing donations to the relief effort following
the December, 2004 tsunami in Southeast Asia. Based on a sample of 79 U.S. companies, results indicate a statistically significant
positive 5-day cumulative abnormal return. While differences in the timing of the press releases do not appear to have influenced
market reactions, the amount of the donations did. Overall, the results appear to support Godfrey’s (Academy of Management Review
30, 777–798; 2005) assertion that philanthropic giving must be perceived as being a genuine manifestation of the firm’s underlying social responsiveness
in order to increase firm value. 相似文献
12.
Owners of businesses represent an interesting case in the study of the intersection of personal and corporate philanthropic values. Because individuals who own businesses have the means and the ability to act on philanthropic motivations through the medium of their businesses, it is interesting to explore the extent to which their corporate contributions to nonprofits are philanthropic in nature or instrumentally motivated, as in the instance of cause related marketing. The trade-offs between cause related marketing and corporate support of nonprofits are complex. Although larger firms are increasing their investments in cause related marketing, the extent of and motivations for adoption of cause related marketing among privately held businesses is less well understood. This study of 478 businesses which are supporters of arts organizations shows that privately held businesses of medium size (300 to 500 employees) are participating in cause related marketing to a significant degree. The adoption rate of cause related marketing is about 40%, and the primary benefits sought are company image enhancement and product marketing support. Adoption of cause related marketing among privately held and smaller enterprises will grow as CEOs exhibit satisfaction with the results of their program, intend to engage in positive word of mouth about it, and plan to allocate more resources to it. 相似文献
13.
《非赢利和公共部门市场学杂志》2013,25(1):69-91
ABSTRACT Given that funding from governments and donations from individuals have declined and are unstable, it is important for nonprofit organizations to identify corporate donors' real motives for making contributions and potential corporate donors' reasons for not making contributions and to design appropriate marketing strategies accordingly. This paper utilized both in-depth interviews and a survey to explore these aspects with Taiwanese firms. The results indicate that, from these firms, Social Responsibility, followed by Top Management's Influences and External Solicitation, are the highest motives. It appears that enhancing Product Sales, Corporate Image, and Sales Promotion or Reducing Pressure from Competitors are not participant firms' primary motives when making corporate contributions. With regard to reasons for not making corporate contributions, the data reveal that Lack of Human Resources is the primary cause that leads participant firms to make no corporate contributions, followed by Insufficient Funds. This paper also develops scales for measuring motives of corporate philanthropy and reasons for not making corporate contributions. 相似文献
14.
Although previous studies focus on the role of women in the boardroom and corporate response to natural disasters, none evaluate how women directors influence corporate philanthropic disaster response (CPDR). This study collects data on the philanthropic responses of privately owned Chinese firms to the Wenchuan earthquake of May 12, 2008, and the Yushu earthquake of April 14, 2010. We find that when at least three women serve on a board of directors (BOD), their companies’ responses to natural disasters are more significant. Age diversity among women on BODs as well as good corporate profitability (e.g., high earnings per share) positively moderates the relationship between women on BODs and CPDR. 相似文献
15.
Recent discussions in the area of corporate social responsibility suggest that organizational size has complex meanings and
thus requires more scholarly attention. This article explores organizational size in the context of relative power in inter-organizational
networks. To shed light on the ways relative power interacts with size we studied social responsibility practices among cleaning
subcontractors in three firms of different sizes. Our focus on the network differentiates these firms on the basis of their
size and sector. Semi-structured interviews were used to trace cleaning subcontractors’ CSR-related practices. We analyzed
subjective reports and discursive practices involved in subcontractors’ self-presentations. While the economic and philanthropic
dimensions of social responsibility were presented by the cleaning subcontractors as independent of network constraints, the
findings show that the legal and ethical dimensions were subject to large client–firm pressures. What we learn from our data
is that the four dimensions of Carroll’s model, the economic, legal, ethical, and philanthropic, should all develop from and
be evaluated against a fifth root dimension of inter-personal commitment. 相似文献
16.
Determinants of Corporate Social Responsibility Disclosure Ratings by Spanish Listed Firms 总被引:1,自引:0,他引:1
Carmelo Reverte 《Journal of Business Ethics》2009,88(2):351-366
The aim of this paper is to analyze whether a number of firm and industry characteristics, as well as media exposure, are
potential determinants of corporate social responsibility (CSR) disclosure practices by Spanish listed firms. Empirical studies
have shown that CSR disclosure activism varies across companies, industries, and time (Gray et al., Accounting, Auditing & Accountability Journal
8(2), 47–77, 1995; Journal of Business Finance & Accounting
28(3/4), 327–356, 2001; Hackston and Milne, Accounting, Auditing & Accountability Journal
9(1), 77–108, 1996; Cormier and Magnan, Journal of International Financial Management and Accounting
1(2), 171–195, 2003; Cormier et al., European Accounting Review
14(1), 3–39, 2005), which is usually justified by reference to several theoretical constructs, such as the legitimacy, stakeholder,
and agency theories. Our findings evidence that firms with higher CSR ratings present a statistically significant larger size
and a higher media exposure, and belong to more environmentally sensitive industries, as compared to firms with lower CSR
ratings. However, neither profitability nor leverage seem to explain differences in CSR disclosure practices between Spanish
listed firms. The most influential variable for explaining firms’ variation in CSR ratings is media exposure, followed by
size and industry. Therefore, it seems that the legitimacy theory, as captured by those variables related to public or social
visibility, is the most relevant theory for explaining CSR disclosure practices of Spanish listed firms. 相似文献
17.
The pressure on companies to practice corporate social responsibility (CSR) has gained momentum in recent times as a means
of sustaining competitive advantage in business. The pharmaceutical industry has been acutely affected by this trend. While
pharmaceutical product recalls have become rampant and increased dramatically in recent years, no comprehensive study has
been conducted to study the effects of announcements of recalls on the shareholder returns of pharmaceutical companies. As
product recalls could significantly damage a company’s reputation, profitability and brand integrity, this paper investigates
the effect on shareholder wealth and the extent to which the adoption of CSR practices by pharmaceutical companies in the
United Kingdom (U.K.) and the United States (U.S.), the two largest markets for pharmaceutical products in the world, affected
market reactions surrounding product recall announcements. The analysis of product recall announcements from 1998 to 2004
compiled from The Pharmaceutical Journal and U.S. Food and Drug Administration enforcement reports revealed marked differences in the way market participants in the
two countries responded to news of product recalls. U.S. investors penalised firms according to the severity of product defects
while U.K. investors were indifferent. While U.K. investors rewarded product recalls by firms which were not usually CSR-active,
U.S. investors punished non-CSR active firms that performed recalls. These observations could pose strategic challenges to
pharmaceutical firms operating in both countries.
Jeremy Cheah is an Assistant Professor of Finance at Nottingham University Business School, Malaysia Campus. His research
interests lie in the area of applied corporate finance and investment management.
Wen Li Chan was an Advocate and Solicitor in Kuala Lumpur, Malaysia before assuming the post of University Teacher in Information
Systems and Strategy at Nottingham University Business School, Malaysia Campus. She is currently investigating the roles and
implications of information on firm valuation, particularly in the area of corporate cyber-litigation and corporate social
responsibility.
Corinne Chieng is a Corporate Executive at Star Publications (M) Berhad, Malaysia. She has previously worked as a tax consultant
at Arthur Andersen Malaysia. Her research interests include the financial implications of corporate social responsibility
on the valuation of firms. 相似文献
18.
This article investigates the effects of firm size, profitability, industry affiliation, and the business cycle on retailer
philanthropy. The importance of industry and firm effects on giving was analyzed with regression models using industry-fixed
effects as well as firm strategy variables. The analysis included instrumental variables methodology to account for simultaneity
in the charitable giving–profits relationship. Data were gathered from the IRS Corporate Statistics of Income Sourcebook,
data that provide firm size class measures covering the entire firm size distribution ranging from small retailers up to large
multi-national retail firms. Retailer philanthropy was measured as the ratio of charitable contributions to total receipts.
Important findings include a cubic relationship between retailer philanthropy and firm size; industry effects stronger than
those observed for retail profit; and the absence of business cycle effects. The empirical research relating retail charitable
giving to firm attributes including firm size and advertising, industry and business cycle factors are unique in the business
ethics literature. Prior studies regarding the importance of industry on charitable giving utilized data across broad sectors
of the economy. Firms from different sectors could be expected to differ in philanthropic approach due to differences in public
contact as well as differences in public relations exposure. The strong industry effects reported for this sample of exclusively
retail firms, with similar public contact, provide strong evidence for the importance of industry in determining firms’ charitable
strategies. 相似文献
19.
AbstractCan corporate advertising improve firm performance following a brand crisis borne out of corporate social irresponsibility (CSI)? This article investigates socially irresponsible firms and their corporate advertising expenditures, which can be used to counter negative opinions. First, we examine whether firms experiencing a negative brand image due to socially irresponsible behavior alter their corporate advertising expenditures. Next, we assess the resulting impact of corporate advertising spending by CSI firms on overall performance. Using a sample of firms engaging in socially irresponsible behavior between 1995 and 2011, we find that such firms tend to increase their corporate advertising. Such changes in corporate advertising expenditures ultimately impact firm performance. Specifically, an increase in corporate advertising helps to reduce the negative effect of CSI on firm performance. 相似文献
20.
We investigate corporate giving behaviors of prestigious business award winners in Korea. In particular, we examine whether firms strategically use corporate giving to enhance corporate reputation. We find that (1) award winners generally make more charitable contributions than nonwinners prior to winning awards and maintain significant charitable contributions after winning awards; (2) multiple award winners make even more charitable contributions than single‐award winners; and (3) an increase in charitable contributions does not raise the probability of winning awards in the year after the increase. The results suggest that CEOs of award‐winning firms do not use corporate giving opportunistically to enhance their status and reputation. Rather, significant charitable contributions by award winners may be indicative of a sound business strategy to maximize long‐term firm value. 相似文献