Research On Bidirectional Effect Mechanism Between Transparency And Fundraising Efficiency Of The Foundations In China

The foundation plays an important role in the development of our society.It can narrow the gap between the rich and the poor,promote social fairness and civilization,and raise the awareness of charity.The number of foundations in our country has grown rapidly in recent years,while the average level of transparency has been low.In order to promote the development of philanthropy,our country introduced the Charity Law in 2016.It emphasizes the information disclosure of charity organizations in the legislation form at the first time and there is a new change in the access and management of public fundraising qualification.It means that information disclosure will become an important task of foundations and fundraising will become more competitive.Raising funds effectively is related to the achievement of the foundations' aim.So it is necessary to explore the mechanism of the influence between transparency and fundraising efficiency in the foundations.Most articles pay more attention to the impact of transparency on donation rather than indirect cost.The study of efficiency emphasized comprehensive operation efficiency rather than fundraising efficiency.So,first this thesis analyzes the bidirectional effect mechanism between transparency and the fundraising efficiency theoretically.Then the thesis divides the fundraising into operation stage and conversion stage,selects the 41 pubic foundations as samples,and calculates their fundraising efficiency and efficiency of each stage in 2015 by using the two-stage DEA model.The results indicate that overall level of efficiency was not good and there were clear differences,but the operation efficiency is higher,and the low level of fundraising efficiency was mainly caused by the low conversion efficiency.Next,the empirical research focuses on the bidirectional effect between transparency and the fundraising efficiency and comes to the follow conclusions : The public foundations with a full score in transparency have higher fundraising efficiency.This positive influence is realized mainly by affecting the conversion efficiency.The public foundations with low fundraising efficiency are willing to disclose information.Operation efficiency does not affect the disclosure of information significantly.