学术讲座:Corporate Philanthropy, Moral and Regulative Legitimacies, and Financial Performance of Chinese Firms

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题目:Corporate Philanthropy, Moral and Regulative Legitimacies, and  Financial Performance of Chinese Firms

演讲人:王鹤丽 博士、副教授 香港科技大学组织管理系

主持人:黄丹 博士 上海交通大学管理学院副院长

时间:200956(周三)上午10:30

地点:安泰楼102

内容简介:

We develop the argument that corporate philanthropy enables Chinese firms to gain moral legitimacy from their various stakeholders and regulative legitimacy from the government and political groups. As a result, we expect a positive relationship between Chinese firms’ philanthropic activities and financial performance. Also, we argue that the positive philanthropy-performance relationship should be stronger for firms with high profitability, large size and located in markets with greater level of development, where gaining moral legitimacy from firms’ stakeholders have greater value. Moreover, privately owned Chinese firms are predicted to benefit more from  philanthropic activities than state-owned firms, as gaining regulative  legitimacy or political resources from government and political groups  is more critical for private firms. These arguments were tested using archival data of Chinese listed firms during the period of 2001-2005.The results generally supported our predictions, suggesting the need to incorporate factors associated with organizational legitimacies, in order to better understand the financial consequences of corporate philanthropy by Chinese firms.

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