The Research On Establishing Motivation And Operating Efficiency Of Listed Company Background Charity Foundation

latest ten years, our country's public foundations come to flourish, especially on non-public foundations. By 2015, the number of non-public foundations was two times of the public-raising foundations. the listed companies have involved themselves in the large team-work of the non-public foundations. Usually, there are three aspects about establishing charity foundation. On the one hand, it may fulfill the demand of social responsibility. On the other hand, It may build up its reputation and upgrade its image. Furthermore, it is to avoid regulation supervising its payment channels. By now, have any characteristics of efficiency of the listed companies background charity foundations been developed? What are the reasons they aim to establish the foundations? According to the Principal-agent Theory, the Stakeholder Theory and the Resource Dependency Theory, if the motivation is positive, that is fulfilling the demand of social responsibility and building up its reputation and upgrading its image, they will strengthen their internal management and respect the laws and regulations, make more resources available to the public welfare arenas and the operation of charity foundation is efficient. If the motivation is negative, their purpose is to avoid regulations, the management will hide their unreasonable expenditure for their self-interest. As a result, the foundation's opereation is non-efficient.Our research materials of the above analysis is through manual collection of the foundation network's data of listed companies' foundations of 2014. In using the factor analysis method of exploratory study of different measures under different motives together with matching background data of listed companies and non-listed companies, the operation efficiency results differently. By comparing the efficiency differences, we reasonably estimate the specific motives of the listed companies' foundations. The result of statistics analysis shows that under the effect of multi factor comprehensive, the operation of charity foundation is efficient, and the listed companies background charity foundations is of positive motivation in reputation, image and performance of social responsibility. Base on this point, the paper hopes that in reference to the supervision experience of the internal governing structure of the listed companies. This paper will enrich the related research literature.