Managerial Background Characteristics And Corporate Philanthropy

After Hambrick and Mason advanced Upper Echelons Theory in 1984,more and more scholars put demography and psychology into managements' research.With the enlargement of enterprises in scale and the competition increased,we can not only rely on the ability of chairman of the board to get the competitive advantages.It is the management that is more and more important on the corporate decisions.The important of academic research is the total Managerial Background Characteristics not one person's Background CharacteristicsManagement agency is also one of the focus problems of academic research.Management is the agent of corporate stockholders and in charge of business decisions.But because of the conflict of interest between Management and stockholders,the management may do harm to the stockholders' interest to look out their own self-interest.Corporate Philanthropy provides a convenient condition to damage the value of stockholders.This paper is based on the agency theory and Upper Echelons Theory.Select the data from China main board of the stock marker in the year of 2008 to 2010.The Managerial Background Characteristics are represented for management size,gender,degree,age,time.Corporate Philanthropy is regarded as one of agency costs.Analyze the relationship between Managerial Background Characteristics and Corporate Philanthropy.Finally,we make a conclusion that there are a positive correlation between management size,the Heterogeneity of management age,the Heterogeneity of management degree and Corporate Philanthropy.There are a negative correlation between management gender,management degree and Corporate Philanthropy.On the analysis of Descriptive statistics,we put forward for the present situation of Managerial Background Characteristics and Corporate Philanthropy.Because of the different of Managerial Characteristics in state-owned enterprises and non-state-owned enterprises,we distinguish the sample into state-owned sub-sample and non-state-owned sub-sample in the empirical analysis.Contributions of this paper are the following:Firstly,regard the Corporate Philanthropy as one of agency costs.In traditional research,management payment and company-paid consumption are the characteristic variables.Few scholar uses Corporate Philanthropy to research the agency costs.Secondly,the conclusion has the directive significance of management contribution and performance evaluation.The research of Managerial Background Characteristics is helpful of the selection of management members,management structural design and the evaluation on work performance of management.Play an active role in effectual communication and coordination.Limitations of this paper are the following:Firstly,the object of study is data from China main board of the stock marker.It does not include the companies in SMSE stock market and Growth Enterprise Market.The accuracy of research conclusion may be affected.Secondly,the paper only uses the variables of managerial size,managerial gender,managerial degree,managerial age.and managerial tenure.But the managerial background characteristics also conclude of nationality,faith,professional background and so on.This paper does not researchother background characteristics.