The Correlation Study Of Enterprise Strategic Philanthropy And Financial Performance

With the new charity concept of domestic enterprises budding, the strategic philanthropy of internal driving is in the initial state.Under the background of the current Chinese domestic enterprises strategic philanthropy in preliminary, the degree thesis reviews the strategic philanthropy, philanthropic--performance models and the empirical analysis philanthropy and performance. Then introduced the tools of value chain, it discusses value chain basic activities and auxiliary activities characteristics of the enterprises which have strategic philanthropy. The thesis builds a strategic philanthropy--financial performance value chain model under the strategic philanthropy into the enterprise business unit strategic, the model for the first stage is that strategic philanthropy changes the enterprise internal value chain and the value chain of the industry; the second stage is that through the value chain’s change, strategic philanthropy results into value increment revenue; it determines the financial performance level through the third stage of which strategic philanthropy income and strategic charity cost is larger.The selection listed companies of the A stock of Shanghai Securities Dealers as samples are on strategic philanthropy and financial performance of non parametric statistical analysis, analysis of cross section and panel analysis of the fourth part. Putting forwards hypothesis of the main of strategic philanthropy charity and strategic philanthropy donation amount, strategic philanthropy time judgment standard is whether in five consecutive years of annual financial report disclosed in the notes of charitable donation, and the strategic philanthropy donation of the non-main is assumed to be zero; a measure of financial performance indicators are seven financial indexes, including the rate of return on net assets, rate of return on total assets, net sales, capital return rate, net profit of deducting non-recurring gains and losses, P/E and Tobin Q value. The empirical conclusion of charity and financial performance is significant, but in the short term (1year)and long term (more than5years) strategic philanthropy and financial performance does not exist significant correlation. Finally with the theoretical analysis of empirical conclusions, it puts forward the countermeasures of promoting strategic philanthropy quality and functions, including enterprises improving the management level of charity, the government who should change its way of role and perfecting the the relevant laws and regulations of donation, vigorously developing the foundations. That some suggestiongs is given to the social responsibility of the enterprise researcher and policy-maker to provide is desired.