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

• Main Authors: WANG, Heli, QIAN, Cuili
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2011
• Subjects: corporate philanthrophy; political connections; China; sociopolitical legitimacy; stakeholders; Corporate Finance; Strategic Management Policy
• 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
• Institution: Singapore Management University

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...