Research On The Influence Of Charitable Donations On Corporate Performance

With the progress and development of the concept of civic responsibility,enterprises are required to fulfill their social responsibilities and to participate in charitable donations.Making profit is the main goal of the enterprise,but the donation activities increase the cost of enterprises,reduce the enterprise's resources,that damage the stockholder's interests.So,why should enterprises participate in charitable donation? Is it only under public pressure or the government procurement behavior,or for other reasons? Dose the charitable donations effect corporate performance? If there is,what is the influence path of it? This paper is to investigate the influence of corporate charitable donations on corporate performance under this background,and try to introduce the reputation of the intermediary variable to explain the mechanism of this effect.First of all,through the analysis of domestic and international research on charitable donations and corporate performance,based on the theory of social responsibility,charity strategy theory,stakeholder theory and reputation transfer theory,in-depth excavation process and mechanism of charitable donations impact on corporate performance,and on the basis of theoretical analysis,put forward the research content of this paper.Secondly,it summarizes the current situation and existing problems of charitable donations in our country,and analyzes the motivations of charitable donations from two aspects: internal driving factors and external environmental factors,which lays the foundation for further research.Thirdly,this paper empirically tests the influence of charitable donations on corporate performance.In this paper,we choose the enterprises that continue to donate for the five years from 2011 to 2015,establish the multiple regression model,and use SPSS17.0 to test and analyze.The results show that charitable donations are positively correlated with short-term financial performance and long-term market value,and corporate reputation has played a part of mediating role.Finally,the paper puts forward some recommendations to standardize corporate charitable donations,combined with the status quo of China's corporate charitable donations,the existing problems and empirical test conclusions,put forward targeted recommendations from the enterprise internal and external aspects.