危机管理视角下的慈善捐赠——基于中国上市公司的数据分析

摘要/Abstract

摘要： 慈善捐赠对企业声誉提升的影响作用已经得到了很多学者的支持,但是否存在一些特定的情境,使得这种声誉的提升对企业尤为重要呢?利用2007—2016年中国上市公司数据,本文探讨了企业违规与慈善捐赠之间的关系,研究发现:相对于没有违规的企业,违规企业在下一年会增加慈善捐赠,且这种关系在民营企业中会更加显著。另外,从利益相关者注意力视角出发,本文发现企业的受关注程度会进一步影响民营企业慈善捐赠的动机。具体而言:第一,政治关联的企业的社会行为往往更受利益相关者的关注,当民营企业拥有政治关联时,其在违规后增加慈善捐赠的动机也更强烈;第二,媒体作为一种外部治理机制也发挥了一定的调节作用,当媒体曝光度越高时,民营企业违规后增加慈善捐赠的动机也越强烈。本文的研究对于进一步理解企业的危机管理以及战略性慈善的理论研究与管理实施具有重要意义。

关键词: 违规, 慈善捐赠, 危机管理

Abstract: The impact of charitable donation on corporate reputation has been supported by many scholars, but is there any specific situation that makes the promotion of corporate reputation particularly important? Based on the data of Chinese listed companies from 2007 to 2016, this paper discusses the relationship between corporate violation and charitable donation. The findings are as follows. First, the illegal corporate will increase their charitable donations in the next year, and this relationship will be more significant in private enterprises. In addition, the degree of attention of corporate will further affect the motivation of charitable donations in private corporate. Specifically, the social behavior of politically related enterprises is often more concerned by stakeholders, and when private enterprises have political connections, they have stronger motivation to increase charitable donations after violations; the media as an external governance mechanism also plays a certain regulatory role, and when private enterprises face high exposure to media, they have stronger the motivation to increase charitable donations after violations. The research of this paper is of great significance for further understanding the crisis management of enterprises and the theoretical research and management implementation of strategic philanthropy.

Key words: violations, charitable donations, crisis management

朱丽娜, 高皓. 危机管理视角下的慈善捐赠——基于中国上市公司的数据分析[J]. 管理评论, 2022, 34(11): 303-314.

Zhu Lina, Gao Hao. Corporate Philanthropy from the Perspective of Crisis Management——An Empirical Analysis Based on the China’s Listed Companies[J]. Management Review, 2022, 34(11): 303-314.

参考文献

[1] 张建君. 竞争-承诺-服从:中国企业慈善捐款的动机[J]. 管理世界, 2013,(9):118-129
[2] Godfrey P. C. The Relationship between Corporate Philanthropy and Shareholder Wealth:A Risk Management Perspective[J]. Academy of Management Review, 2005,30(4):777-798
[3] Shiu Y. M., Yang S. L. Does Engagement in Corporate Social Responsibility Provide Strategic Insurance-like Effects?[J]. Strategic Management Journal, 2017,38(2):455-470
[4] Koehn D., Ueng J. Is Philanthropy Being Used by Corporate Wrongdoers to Buy Good Will?[J]. Journal of Management & Governance, 2010,14(1):1-16
[5] Chen J. C., Patten D. M., Roberts R. W. Corporate Charitable Contributions:A Corporate Social Performance or Legitimacy Strategy?[J]. Journal of Business Ethics, 2008,82(1):131-144
[6] McWilliams A., Siegel D. Corporate Social Responsibility and Financial Performance:Correlation or Misspecification?[J]. Strategic Management Journal, 2000,21(5):603-609
[7] 高勇强,陈亚静,张云均. "红领巾"还是"绿领巾":民营企业慈善捐赠动机研究[J]. 管理世界, 2012,(8):106-114
[8] Du X. Is Corporate Philanthropy Used as Environmental Misconduct Dressing? Evidence from Chinese Family-owned Firms[J]. Journal of Business Ethics, 2015,129(2):341-361
[9] 李四海,陈旋,宋献中. 穷人的慷慨:一个战略性动机的研究[J]. 管理世界, 2016,(8):116-127
[10] 傅超,吉利. 诉讼风险与公司慈善捐赠——基于"声誉保险" 视角的解释[J]. 南开管理评论, 2017,20(2):108-121
[11] 吴华,张爱卿,唐擎. 企业社会责任行为会促进组织污名管理吗?——基于归因理论视角[J]. 管理评论, 2018,30(7):218-230
[12] Godfrey P. C., Merrill C. B., Hansen J. M. The Relationship between Corporate Social Responsibility and Shareholder Value:An Empirical Test of the Risk Management Hypothesis[J]. Strategic Management Journal, 2009,30(4):425-445
[13] 许年行,江轩宇,伊志宏,等. 政治关联影响投资者法律保护的执法效率吗?[J]. 经济学(季刊), 2013,12(2):373-406
[14] Chakravarthy J., DeHaan E., Rajgopal S. Reputation Repair after a Serious Restatement[J]. The Accounting Review, 2014,89(4):1329-1363
[15] Lamin A., Zaheer S. Wall Street vs. Main Street:Firm Strategies for Defending Legitimacy and Their Impact on Different Stakeholders[J]. Organization Science, 2012,23(1):47-66
[16] Mishina Y., Block E. S., Mannor M. J. The Path Dependence of Organizational Reputation:How Social Judgment Influences Assessments of Capability and Character[J]. Strategic Management Journal, 2012,33(5):459-477
[17] Francis R., Armstrong A. Ethics as a Risk Management Strategy:The Australian Experience[J]. Journal of Business Ethics, 2003,45(4):375-385
[18] Simon H. Administrative Behavior[M]. New York:The Free Press, 1947
[19] Wang H., Qian C. Corporate Philanthropy and Corporate Financial Performance:The Roles of Stakeholder Response and Political Access[J]. Academy of Management Journal, 2011,54(6):1159-1181
[20] Muller A., Kräussl R. Doing Good Deeds in times of Need:A Strategic Perspective on Corporate Disaster Donations[J]. Strategic Management Journal, 2011,32(9):911-929
[21] Barnett M. L. Why Stakeholders Ignore Firm Misconduct:A Cognitive View[J]. Journal of Management, 2014,40(3):676-702
[22] 沈弋,徐光华,钱明. 慈善捐赠, 研发投入与财务资源的调节作用——基于战略间互动视角[J]. 管理评论, 2018,30(2):159-171
[23] 陈守明,周洁. 企业捐赠对创新的影响——基于我国制造业上市公司的实证研究[J]. 管理评论, 2018,30(11):57-67
[24] Carroll A. B. A Three-dimensional Conceptual Model of Corporate Performance[J]. Academy of Management Review, 1979,4(4):497-505
[25] 杨洁,郭立宏. 声明还是缄默:负面报道后国企和民企印象管理行为差异研究[J]. 南开管理评论, 2017,20(1):83-95
[26] 徐莉萍,辛宇,祝继高. 媒体关注与上市公司社会责任之履行[J]. 管理世界, 2011,(3):135-143
[27] Pollock T. G., Rindova V. P., Maggitti P. G. Market Watch:Information and Availability Cascades among the Media and Investors in the US IPO Market[J]. Academy of Management Journal, 2008,51(2):335-358
[28] Rindova V. P., Williamson I. O., Petkova A. P., et al. Being Good or Being Known:An Empirical Examination of the Dimensions, Antecedents, and Consequences of Organizational Reputation[J]. Academy of Management Journal, 2005, 48(6):1033-1049
[29] 梁建,陈爽英,盖庆恩. 民营企业的政治参与、治理结构与慈善捐赠[J]. 管理世界, 2010,(7):109-118
[30] 罗党论,唐清泉. 政治关系,社会资本与政策资源获取[J]. 世界经济, 2009,(7):84-96
[31] 高勇强,何晓斌,李路路. 民营企业家社会身份, 经济条件与企业慈善捐赠[J]. 经济研究, 2011,(12):111-123
[32] Khwaja A. I., Mian A. Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market[J]. The Quarterly Journal of Economics, 2005,120(4):1371-1411
[33] 贾明,张喆. 高管的政治关联影响公司慈善行为吗?[J]. 管理世界, 2010,(4):99-113
[34] Dyck A., Volchkova N., Zingales L. The Corporate Governance Role of the Media:Evidence from Russia[J]. The Journal of Finance, 2008,63(3):1093-1135
[35] Deephouse D. L. Media Reputation as a Strategic Resource:An Integration of Mass Communication and Resource-based Theories[J]. Journal of Management, 2000,26(6):1091-1112
[36] Lange D., Washburn N. T. Understanding Attributions of Corporate Social Irresponsibility[J]. Academy of Management Review, 2012,37(2):300-326
[37] Rozin P., Royzman E. B. Negativity Bias, Negativity Dominance, and Contagion[J]. Personality and Social Psychology Review, 2001,5(4):296-320
[38] Niven D. Bias in the News:Partisanship and Negativity in Media Coverage of Presidents George Bush and Bill Clinton[J]. Harvard International Journal of Press/Politics, 2001,6(3):31-46
[39] Moir L., Taffler R. Does Corporate Philanthropy Exist?:Business Giving to the Arts in the UK[J]. Journal of Business Ethics, 2004,54(2):149-161
[40] Taylor S. E. Asymmetrical Effects of Positive and Negative Events:The Mobilization-minimization Hypothesis[J]. Psychological Bulletin, 1991,110(1):67-85
[41] Xu D., Zhou K. Z., Du F. Deviant versus Aspirational Risk Taking:The Effects of Performance Feedback on Bribery Expenditure and R&D Intensity[J]. Academy of Management Journal, 2019,62(4):1226-1251
[42] 许年行,李哲. 高管贫困经历与企业慈善捐赠[J]. 经济研究, 2016,51(12):135-148
[43] 贺小刚,李婧,吕斐斐,等. 绩优企业的投机经营行为分析——来自中国上市公司的数据检验[J]. 中国工业经济, 2015,(5):110-121
[44] 贺小刚,张远飞,连燕玲,等. 政治关联与企业价值——民营企业与国有企业的比较分析[J]. 中国工业经济, 2013,(1):103-115
[45] 金宇超,靳庆鲁,宣扬. "不作为"或"急于表现":企业投资中的政治动机[J]. 经济研究, 2016,51(10):126-139
[46] Bourgeois III L. J. On the Measurement of Organizational Slack[J]. Academy of Management Review, 1981,6(1):29-39
[47] Li J., Zhou C., Zajac E. J. Control, Collaboration, and Productivity in International Joint Ventures:Theory and Evidence[J]. Strategic Management Journal, 2009,30(8):865-884
[48] Arthaud-Day M. L., Certo S. T., Dalton C. M., et al. A Changing of the Guard:Executive and Director Turnover Following Corporate Financial Restatements[J]. Academy of Management Journal, 2006,49(6):1119-1136
[49] Zavyalova A., Pfarrer M. D., Reger R. K., et al. Managing the Message:The Effects of Firm Actions and Industry Spillovers on Media Coverage Following Wrongdoing[J]. Academy of Management Journal, 2012,55(5):1079-1101
[50] 朱沆,杨海翔,谭洁. 企业家慈善捐赠的信号效应与私营中小企业的规费负担[J]. 管理评论, 2019,31(9):146-158