Managerial Ownership,Property Rights And Corporate Charitable Giving

The 18 th National Congress put forward to support the development of charity,to promote the construction of a socialist harmonious society,the enterprise as an important unit of society,must be in accordance with the party's spirit to strengthen corporate social responsibility.Enterprise public welfare donation is an important form of corporate social responsibility,and it has an important role in promoting the development of public welfare undertakings.There are many factors that affect the public welfare donation,among which;there are few literatures about the influence of managerial ownership on the public welfare donation.Previous studies have indicated that the ownership structure has a significant impact on corporate charitable giving,so the management shareholding is an important part of the corporate ownership structure.In addition,due to the different characteristics of the enterprise,behavior differences between state-owned enterprises and private enterprises large donations to enterprise public cognition is different,so the different nature of the property enterprise donation activities are different,and the behavior of managerial shareholding donation of state-owned enterprises and private enterprises public degree of influence is the same,is also worth exploring.In order to investigate the above problems,this paper uses the methods of literature analysis and empirical research methods,selecting 2010-2014 A shares of listed companies as the research object,discuss the relationship between managerial ownership and property rights and corporate donation three.Firstly,through collecting and reading a lot of relevant documents,in-depth analysis of the relationship between managerial ownership and property rights and corporate donation three,and analyzing the correlative literatures,are sorting out the research methods of this article.Secondly,fully understand the theoretical basis and institutional background of the research,and explain the connotation of the relevant research terms.On this basis,the analysis of the internal mechanism of management,property rights and corporate charitable donations,and put forward the relevant assumptions.Third,according to the research needs,build the model,descriptive statistics,correlation analysis and regression analysis of the sample data,and test the reliability of the hypothesis through the robustness test.Finally,based on the empirical analysis of the results,this paper puts forward relevant policy recommendations.The study found that there is a nonlinear relationship between managerial ownership and corporate donation,the specific performance when the management stake in 0-0.236%,increased the proportion of managerial ownership will promote the corporate donation;managerial ownership in 0.236%-0.632%,increased the proportion of managerial ownership will hinder enterprise donation management ownership;more than 0.632%,corporate donation levels rise again with the increase in the proportion of managerial ownership and.According to the classification of the property right,the samples can be found that the property rights of the listed companies will affect the level of public welfare donations,that is,the level of public welfare donations of private enterprises is significantly higher than that of state-owned enterprises.In the nature of different property rights,the ownership of private enterprises in the management of public donations to the greater impact,the impact of state-owned enterprises in the management of Shareholding on corporate charitable donations is not significant.Based on the findings above,this paper puts forward some countermeasures and suggestions on the basis of the practice of our country,from the perspective of enterprise equity structure,information disclosure and related system.Study that enterprises should design a reasonable proportion of management ownership,and improve the corporate public information disclosure mechanism to further stimulate the enterprise to carry out charitable donations.At the same time,the relevant departments should improve the system of public welfare donations,enhance corporate social responsibility concept.