Network Fundraising And Public Welfare Foundation Information Disclosure Quality

The foundation industry of our country has been developing quickly which has made the amount of funds raised by our foundations in the charity market more and more,at the same time the foundation's influence in the charity and charity industry has also become stronger and stronger.In recent years,a series of charitable scandals with a high degree of concern and a wide range of influence have caused the foundation's credibility to continue to decline.Continuing public welfare scandals in recent years have caused the public's confidence in the organization of our foundation and the enthusiasm for donating to keep declining.The occurrence of scandals has caused the Foundation to be at the forefront of turbulence.At the same time,the negative effects have also resulted in a substantial reduction in foundation donation income.With the decline of the foundation's credibility,the public's considerations when making donation decisions have also increased,and their requirements for the quality of disclosure of foundation information have also increased.People' s demands for the foundation's quality of information disclosure have also become higher and higher,and the quality of information disclosure has become an important factor affecting the development of foundations.Since the beginning of the 21st century,the rapid development of Internet technology has changed the operating methods of many traditional industries.At the same time 21st century ushered in the period of great development of China's foundation industry.According to statistics from the Foundation's central network,the total number of foundations in China in 2000 was only 556.Since then,the number of foundations has grown rapidly.By the end of 2017,there were a total of 6,372 companies in China.According to the disclosure of the"China Charity Development Report 2017" by the Foundation,the total amount of social donations in China reached 134.6 billion yuan in 2016,of which only the foundation's organizational form received a donation of 48.9 billion yuan,which was 36%of the total donation amount of charitable organizations in China.In all forms of charitable organizations,foundations have the largest proportion of donations raised,which shows that the foundation is playing an increasingly important role in China's social welfare and public policies.The development of our foundation has promoted the development of philanthropy and the allocation of social resources,which in turn has promoted social and economic progress in our country.The concept of "Internet+"has begun to appear in various industries.The foundation industry is no exception.The network-based donation through Internet technology is a new type of fundraising.In recent years,a series of charitable scandals with high attention and wide influence have caused the foundation's credibility to continue to decline.People's requirements for the foundation's quality of information disclosure have also become higher and higher,and the quality of information disclosure is an important factor affecting the development of foundations.In 2004,China's first online fundraising event was initiated by the Beijing Red Cross Society.Its purpose was to raise funds for the Indian Ocean tsunami In 2010,Internet companies joined the online fundraising campaign and began to build third-party public benefit platforms.As of today,more than 20%of charitable organizations have conducted publicity and fundraising activities through various forms of the Internet,such as opening official websites,Weibo official accounts,WeChat public account or third-party platforms.So,The information voluntarily disclosed by the foundation is an important way for the government and social donors to understand the foundation.It is very important whether the disclosed information can provide donors with a decision on making donations.How to implement effective governance of the foundation so as to improve its disclosure Quality is a question worth thinking about.In previous studies,foundation governance is divided into two parts:external governance and internal governance.Internal governance mainly comes from the function and role of the foundation's internal board of directors.External governance includes government governance and market participant governance.With the application and popularization of Internet technology,"Internet+" has been applied to all walks of life,and the foundation industry is no exception.Online fundraising has become an important way for foundations to obtain donated income.Is the emergence of the Internet an opportunity for more information disclosure for the foundation industry?Is Network Fundraising,a new way of fundraising,a gospel for the quality of foundation disclosure?This is a question worth exploring and thinking about.From the perspective of the external governance of the foundation,this paper puts forward the research content of this article on the basis of the great changes and pressures faced by the domestic foundations.This article first defines the concepts involved in the text,including the network fundraising and the quality of disclosure of foundation information,then introduces the theoretical basis involved in this paper,sorts out and reviews the relevant literature and research status at home and abroad,and proposes three Assumptions.Based on the hypothesis of this article and previous literature studies,the explanatory variables,explanatory variables,and control variables are set,and an analysis model is established.Afterwards,this article takes the top 300 public foundations of China's net assets as a sample.After screening,a total of 276 public fundraising foundations were selected.After conducting correlation analysis,multiple regression analysis,and endogenous tests,we obtained the conclusion of the relationship between information disclosure quality and online fundraising.The results of this study indicate that,firstly,the foundation' s official website and its fundraising channel on its website can effectively improve the quality of its information disclosure;secondly,in the foundation that has launched a network fundraising channel,the channel for information feedback inquiry has a higher Quality of information disclosure;Third,foundations that conduct fundraising activities on third-party platforms have higher quality of information disclosure.The results of this study validate three hypotheses,and this article explains them.Combining the results of theoretical research and empirical tests,this article puts forward three suggestions for how China's foundations can improve the quality of their information disclosure.They are:establishing an official website,opening a network of donation channels and information feedback channels,and conducting cooperation with third-party platforms.Fundraising activities and strengthening cooperation with third-party assessment agencies.In the end,this paper summarizes the problems in the research and puts forward the future research.