Research On Relationship Between Characteristics Of Top Management Team And Corporate Philanthropy

As a social economic cell, the enterprise is the most important constitution of the market economy and the most aggressive factor of the social development, while simply pursuing the target of economic benefits has already not matched the moral standards in the market economic development, more and more social problems result from this target, people gradually know the necessity of undertaking the social responsibility by enterprises. The philanthropy is direct and initial way of undertaking the social responsibility, also it is easily known by the public, therefore, it receives more and more concern. Since Wen Chuan earthquake occurred, the corporate philanthropy has become a social and academic hot point.In fact, the choice, establishment, implementation and monitor of enterprise strategy are all related with top management team, the decision is decided by value and cognition structure to some extent, value decides the strategic hobby and cognize structure decides cognition level in choices, objective and measurable demographic characteristic can represent these mental characteristics that can’t be easily prognosticated. This text is exactly according to above-mentioned premises to research whether characteristics of top management team will influence corporate philanthropy willing and philanthropy scale, how?In the process of research, first of all, this text puts forward corporate social responsibility theory, upper echelons theory and strategic philanthropy theory to be foundations of analysis and makes a systemic comment on characteristic of top management team(TMT)、corporate philanthropy and their relationship at home and abroad. Basing on above, we try to explain characteristics of top management team on corporate philanthropy and put forward seven assumptions. What’s more, we choose private listed companies of three years to do empirical analysis through STATA12.0. Final results show that female rate, average education level,average tenure, average salary and age’s heterogeneity of top management team have positive influence on corporate philanthropy. While other independents play no or part influence on corporate philanthropy. Lastly, basing on the empirical research and characteristic of top management team, we try to give some suggestions for improving rational corporate philanthropy behavior.