How does the turnover of local officials make firms more charitable? A comprehensive analysis of corporate philanthropy in China

Liu, Wei; Sisto, Marco De; Li, Wen Helena

doi:10.1016/j.ememar.2020.100748

Cited by 47 publications

(30 citation statements)

References 81 publications

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“…Using the data extracted from the above sources, we have collected an initial dataset of 35,532 observations from all listed companies. Then, we selected the sample by the following criteria (Liu et al, 2021). (a) Excluding all foreign capital shares (listed in the Shanghai and Shenzhen B-share markets); (b) Dropping observations that were specially treated (ST); and (c) Deleting all observations with missing variables.…”

Section: Methodology Sample and Data Sourcementioning

confidence: 99%

How does social media drive corporate carbon disclosure? Evidence from China

Shao

2022

Front. Ecol. Evol.

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As public concern over global warming increases, there is a growing requirement for companies, as carbon emitters, to disclose (and work to reduce) their carbon emissions. Previous literature has neglected the role of social media as a source of legitimacy pressure to influence corporate carbon disclosure. Based on legitimacy theory, this study analyzed the impact of social media legitimacy pressure on corporate carbon disclosure using data from 3,656 Chinese listed companies from 2009 to 2019. We found that social media legitimacy pressure significantly enhances corporate carbon disclosure. Additionally, this positive relationship is weakened by substantive corporate internal carbon management measures (corporate green innovation and environmental management systems). Accordingly, in order to ensure consistent carbon management practices, companies should focus their efforts on substantive carbon management measures along with carbon disclosure.

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Section: Methodology Sample and Data Sourcementioning

confidence: 99%

How does social media drive corporate carbon disclosure? Evidence from China

Shao

2022

Front. Ecol. Evol.

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“…Charitable giving makes connections with primary stakeholder groups (Chen et al, 2018) and provides stakeholders positive moral capital which can generate intangible asset protection for shareholders similar to insurance (Godfrey, 2005). Philanthropic engagement is used as a tool through which companies may gain the favor and trust of the government, taking the responsibility of building political connections (Gao & Hafsi, 2017; Hao et al, 2020; Liu et al, 2021). Corporate philanthropy can enhance personal reputation and career development for self‐serving managers (Chen et al, 2018, 2020).…”

Section: Motives For Corporate Philanthropymentioning

confidence: 99%

Is corporate philanthropy a pretext for executives' excess perk consumption? Evidence from China

Wang

2022

Manage Decis Econ

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Using a sample of Chinese listed firms from 2007 to 2019, we investigate the impact of corporate philanthropy on excess perks. Companies are likely to make philanthropic donations from the motivations of building political connections, serving the personal interests of self‐serving managers, disguising excess perks and deviating public attention, leading to higher excess perks. Agency theory is probably a view to interpret the positive relationship. From the perspectives of CEO power and board effectiveness, we examine the impact of corporate governance on the relationship between corporate philanthropy and excess perks. The findings provide valuable insights for directors, managers and shareholders.

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“…According to contemporary institutional theory (North, 1990(North, , 1991(North, , 1992(North, , 2005, a company usually operates in uncertain environments, which is also characterized by high transactions costs (Liu et al, 2021). Specifically, companies will be discouraged from investing in risky projects in countries where there is high institutional volatility due to the high transaction and market costs (Hartwell, 2018;Hollingsworth, 2002;Khan et al, 2021) related to uncertainty.…”

Section: Pro-market Institutions and Firm Performance In Latin Americamentioning

confidence: 99%

Formal institutions, ICSID arbitration and firm performance: evidence from Latin America

et al. 2022

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This paper analyzes how a country’s formal institutional quality impacts the performance of listed companies across different Latin American countries (namely, Argentina, Brazil, Colombia, Mexico, Peru, and Chile) and industries. Latin America provides a unique setting to address this question due to the region’s high institutional instability. The sample consists of 571 large listed companies, with a total of 8576 observations, for the period 2004–2019. Results show that the quality of a country’s formal institutions is positively related to firm performance, measured through two alternative variables (ROA and Tobin’s Q). Additionally, countries that are signatories of the ICSID agreement provide companies with a more stable environment in which to do business, which ultimately has a positive impact on their performance. However, as the number of cases recorded before the ICSID increases, the relationship turns negative. The paper provides a more comprehensive understanding of formal institutions by considering six alternative governance dimensions. Moreover, international arbitration is found to be a substitute for formal institutions in Latin American countries.

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How does the turnover of local officials make firms more charitable? A comprehensive analysis of corporate philanthropy in China

Cited by 47 publications

References 81 publications

How does social media drive corporate carbon disclosure? Evidence from China

How does social media drive corporate carbon disclosure? Evidence from China

Is corporate philanthropy a pretext for executives' excess perk consumption? Evidence from China

Formal institutions, ICSID arbitration and firm performance: evidence from Latin America

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