The Influence of Corporate Philanthropy on Innovation: Evidence from Chinese Manufacturing Industry

Abstract

Abstract:

Corporate philanthropy can bring benefits to the firms. This study links corporate philanthropy to corporate innovation and examines the moderating role of ROA and slack resource in this relationship. Drawing on stakeholder theory and resource dependence theory, we develop and test hypotheses using secondary data from 381 manufacturing firms listed in Shanghai Stock Exchange from 2010 to 2014. It is found that the positive relationship between corporate philanthropy and innovation is stronger when ROA or slack resource is higher.

Key words: philanthropy, donation, corporate innovation, profitability, slack resource

Chen Shouming, Zhou Jie. The Influence of Corporate Philanthropy on Innovation: Evidence from Chinese Manufacturing Industry[J]. , 2018, 30(11): 57-67.

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