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| Interlock Network, Institutional Environment and Charitable Donation of Private Enterprises: An Embeddedness Perspective |
| BAO Fenghua，ZHAO Yapu，TIAN Longwei，LI Yuan |
| 1. Shanghai Jiaotong University, Shanghai, China； 2. Tongji University, Shanghai, China |
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Abstract Based on the embeddedness perspective, this paper discusses the impact of the social network structure on the charitable donation behavior of enterprises, as well as the moderating role of the institutional environment. Based on the data of the board of directors of listed companies in China from 2004~2014, the interlock network of listed companies was constructed, and the private enterprises were used as the research samples. The results show that the centrality of interlock network will increase the possibility of corporate charitable donations, and the structure hole will reduce the possibility of corporate charitable donations. The study also found that the institutional environment (the degree of marketization) of the enterprise location will affect the relationship between structural holes and charitable donations. With the increase of marketization, the effect of structural holes on charitable donations will be more prominent. The research in this paper deepens our understanding on the causes of corporate charitable donations.
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Received: 22 January 2018
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