Abstract Based on organizational identification and social exchange theory, Using 2008-2013 Chinese listed firms as the samples, the study explores how the corporate philanthropy affects revenue growth through the employee responses, we also examine the moderating role of the services and the level of fulfill employees responsibility. The study finds that charitable donations have a significant positive impact on revenue growth, This effect will be more significant in the service industry and the firms with high level of fulfilling employees responsibility. The results show that corporate charitable donations have distinct moral attributes, which inspire employees’ job satisfaction and job involvement, improve the work performance and expand revenue growth, however, the mechanism would not be effective unless the firm can also protect employees’ rights.
2017, Vol. 14 
