What explains Chinese private entrepreneurs' charitable behaviors?—A story of dynamic reciprocal relationship between firms and the government |
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| Institution: | 1. Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, China;2. Department of Economics, School of Economics, Xiamen University, China;3. Department of Economics, Colgate University, Hamilton, NY, United States;4. School of Public Finance and Taxation, Southwestern University of Finance and Economics, Chengdu, China;1. School of Management, Zhejiang University of Technology, 288 Liuhe Road, Xihu District, Hangzhou, Zhejiang 310023, China;2. School of Management, University of San Francisco, 2130 Fulton Street, San Francisco, CA, USA 94117;1. School of International Economics and Management, Beijing Technology and Business University, Beijing, China;2. School of Economics and Management, North China University of Technology, Beijing, China;1. York University Schulich School of Business, 4700 Keele Street, Toronto, ON, Canada, M3J1P7;2. China Europe International Business School, 699 Hongfeng Road, Pudong, Shanghai, China;3. Shanghai University of Finance and Economics, School of Public Economics and Administration, 777 Guoding Rd, Shanghai, China;1. School of Economics and Management, Beihang University, Room A1106, New Main Building, 37 Xueyuan Road, Haidian District, Beijing 100191, China,;2. School of Economics and Management, Beihang University, Room A1022, New Main Building, 37 Xueyuan Road, Haidian District, Beijing 100191, China |
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| Abstract: | This paper studies Chinese private entrepreneurs' charitable behaviors by exploring the dynamic reciprocal relationship between private firms and local governments. By using three waves of a nationwide survey of private firms in 2002, 2004 and 2006 from China, we provide robust evidence that Chinese private entrepreneurs with access to preferential loans from state-owned banks when their businesses first started are more likely to participate in donation and anti-poverty programs organized by the government, and the effects of such loans are more pronounced for small firms and firms in regulated industries. Furthermore, we find that this reciprocal relationship between local governments and private entrepreneurs is a personal relationship rather than an institutional relationship, which declines in importance in areas with better legal institutions and in regions with change of local leadership. Finally, there is evidence that Chinese private entrepreneurs' charitable behaviors are also motivated by political returns and other individual characteristics. |
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