The Impact Of Enterprise Charitable Donors On Stock Price Based On Property Right

With the introduction of the concept of social responsibility, charitable donations as an important part of social responsibility, more and more companies are concerned. 2008 is the first year of China Charity, followed by the earthquake and Yushu earthquake Ya’an, the company’s charitable giving is playing a significant role. How, then, our state-owned and private enterprises the level of charitable giving? Charitable donations to the different nature of company stock influential? If it does, what kind of difference there? To explore these questions, this paper to state-owned and private listed companies as a case study of a study sample.This paper selects different sectors of two state-owned listed companies and two private listed companies, combined with the event study, the choice of 2013 Ya’an seismic events, relevant sample data after the stock price movement of corporate charitable donations following conclusions:1.It is significant that the effect of post disaster charity donation behavior on the stock price of enterprises with different ownership properties. Charitable donations to promote the state-owned enterprises do not have a negative effect of discipline. In contrast, private listed companies are positively correlated, but there is a certain lag. Overall, the market price changes on different capital charitable donation different nature of the enterprise property right attitude.2.Private enterprises accounted for net profit charitable donations proportion is higher than the proportion of state-owned enterprises. Through case data comparison can be seen that the proportion of private charitable donations higher than the state-owned, and the higher the proportion of charitable donations to promote the role of the stock of the stronger.It can obtain suggestions for the future corporate charitable donation aspect through case studies, which are government policies and behavior in business management aspects.