|
|
|
| Empirical Research of Forced Philanthropy Based on Stickiness |
| PAN Qi，LONG Jianhui，ZHU Yiming |
| 1.Hangzhou Normal University,Hangzhou,China;2.Guangdong Academy of Social Sciences, Guangzhou, China |
|
|
|
|
Abstract Based on the panel data of Chinese A-share listed companies from 2003 to 2012,this study analyses and makes an empirical test on the forced occurrence mechanisms of corporate philanthropy from stickiness. By using fixed effects model and its multiple robustness examination, the research finds that corporate philanthropy is forced and its sticky characteristic is very significant. But the sticky characteristic will decrease with the degree of marketization and harmonious relationship between corporate and its stakeholders. Further empirical study suggests that the sticky characteristic is more pronounced in these enterprises, viz. private, illegal, selling products directly to consumers and facing more competition pressure. And the reason is that the corporate wants to strengthen its legitimacy by meeting stakeholders’ repressive requirements on philanthropy.
|
|
Received: 14 March 2016
|
|
|
|
|
|
|
2017, Vol. 14 
