公司治理与公司捐赠:来自中国上市公司的经验研究

摘要/Abstract

摘要：

本文运用1051家A股上市公司2002-2010年披露的捐赠数据对公司治理如何影响公司捐赠进行了实证研究。研究结果表明重要股东持股比例与捐赠行为负相关,但管理层持股比率与捐赠行为正相关。而且,本文的研究结果表明中国传统文化中的伦理观念可以解释上述样本的捐赠行为。此外,本文的研究结果表明实际控制人类型并不是影响捐赠决策的关键因素。

关键词: 公司治理, 公司捐赠, 中国传统文化

Abstract:

In this paper, we use the 2002 to 2010 donation data from 1051 A-share listed companies to study how the corporate governance influences the decision of corporate philanthropy. The research results show that key shareholders' shareholding ratio is negatively correlated with the philanthropic behavior, but management's shareholding ratio is positively correlated with the behavior. The conclusions mean that we can explain the philanthropic behavior by ethics ideas of Chinese traditional culture. Moreover, the research results show that the type of actual controllers may not be the key factor that influences the decision of corporate philanthropy.

Key words: corporate governance, corporate philanthropy, Chinese traditional culture

古志辉. 公司治理与公司捐赠:来自中国上市公司的经验研究[J]. , 2015, 27(9): 69-84.

Gu Zhihui. Corporate Governance and Corporate Philanthropy: Empirical Study from Chinese A-share Listed Companies[J]. , 2015, 27(9): 69-84.

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