Corporate philanthropy and corporate financial performance: The roles of social response and political access

Corporate philanthropy is expected to positively affect firm financial performance because it helps firms gain sociopolitical legitimacy, which enables them to elicit positive stakeholder responses and to gain political access. The positive philanthropy-performance relationship is stronger for firms...

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Main Authors: WANG, Heli, QIAN, Cuili
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2011
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Online Access:https://ink.library.smu.edu.sg/lkcsb_research/3439
https://ink.library.smu.edu.sg/context/lkcsb_research/article/4438/viewcontent/41413614.pdf
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spelling sg-smu-ink.lkcsb_research-44382019-01-28T01:26:02Z Corporate philanthropy and corporate financial performance: The roles of social response and political access WANG, Heli QIAN, Cuili Corporate philanthropy is expected to positively affect firm financial performance because it helps firms gain sociopolitical legitimacy, which enables them to elicit positive stakeholder responses and to gain political access. The positive philanthropy-performance relationship is stronger for firms with greater public visibility and for those with better past performance, as philanthropy by these firms gains more positive stakeholder responses. Firms that are not government-owned or politically well connected were shown to benefit more from philanthropy, as gaining political resources is more critical for such firms. Empirical analyses using data on Chinese firms listed on stock exchanges from 2001 to 2006 support these arguments. 2011-12-01T08:00:00Z text application/pdf https://ink.library.smu.edu.sg/lkcsb_research/3439 info:doi/10.5465/amj.2009.0548 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4438/viewcontent/41413614.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University corporate philanthrophy political connections China sociopolitical legitimacy stakeholders Corporate Finance Strategic Management Policy
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic corporate philanthrophy
political connections
China
sociopolitical legitimacy
stakeholders
Corporate Finance
Strategic Management Policy
spellingShingle corporate philanthrophy
political connections
China
sociopolitical legitimacy
stakeholders
Corporate Finance
Strategic Management Policy
WANG, Heli
QIAN, Cuili
Corporate philanthropy and corporate financial performance: The roles of social response and political access
description Corporate philanthropy is expected to positively affect firm financial performance because it helps firms gain sociopolitical legitimacy, which enables them to elicit positive stakeholder responses and to gain political access. The positive philanthropy-performance relationship is stronger for firms with greater public visibility and for those with better past performance, as philanthropy by these firms gains more positive stakeholder responses. Firms that are not government-owned or politically well connected were shown to benefit more from philanthropy, as gaining political resources is more critical for such firms. Empirical analyses using data on Chinese firms listed on stock exchanges from 2001 to 2006 support these arguments.
format text
author WANG, Heli
QIAN, Cuili
author_facet WANG, Heli
QIAN, Cuili
author_sort WANG, Heli
title Corporate philanthropy and corporate financial performance: The roles of social response and political access
title_short Corporate philanthropy and corporate financial performance: The roles of social response and political access
title_full Corporate philanthropy and corporate financial performance: The roles of social response and political access
title_fullStr Corporate philanthropy and corporate financial performance: The roles of social response and political access
title_full_unstemmed Corporate philanthropy and corporate financial performance: The roles of social response and political access
title_sort corporate philanthropy and corporate financial performance: the roles of social response and political access
publisher Institutional Knowledge at Singapore Management University
publishDate 2011
url https://ink.library.smu.edu.sg/lkcsb_research/3439
https://ink.library.smu.edu.sg/context/lkcsb_research/article/4438/viewcontent/41413614.pdf
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