Research On The Relationship Between Entrepreneurs' Wealth Effect And Charitable Donation

Since the reform and opening up,countless private enterprises have sprung up,and the level of private wealth of private entrepreneurs has also increased rapidly.However,the accumulation of wealth does not seem to stimulate the enthusiasm of Chinese private entrepreneurs to donate,especially social media.There are more and more reports of private entrepreneurs "being rich and benevolent".Compared with the enthusiasm of European and American entrepreneurs for public welfare,the intrinsic motivation that affects entrepreneurs to make charitable donations has become a topic worth studying.Existing literature has done a lot of research on the causes and influencing factors of corporate charitable donations,but few literatures have explored the relationship between individual factors of entrepreneurs and corporate charitable donations from the individual level of corporate decision makers.In this regard,this article conducts an empirical study on the relationship between entrepreneur wealth and the level of corporate charitable donation,explores the possible impact of entrepreneur wealth on the level of corporate charitable donation based on the psychological money effect,and adds entrepreneurial decision-making context factors.The Moderating Effects of Family Governance and Corporate Governance on Corporate Charitable Donations.This article takes 825 private enterprises in China's listed companies from 2012 to 2017 as the research sample.The data mainly comes from Guotai'an database and corporate annual report.Correlation analysis and regression analysis are performed on the sample data using STATA software.The relationship between the increase in corporate donations is empirically tested,and the regulatory effect of the separation of the two powers of the second-generation family involvement and the ultimate controller is further verified.The following research conclusions are mainly obtained:Private enterprises show the characteristics of "defending wealth" The growth of entrepreneurs makes entrepreneurs more "selfish" without increasing their commitment to social responsibility and enthusiasm for charitable activities,which is reflected in the level of charity donation will not be raised at the corporate level.In addition,by combining the inheritance background of Chinese private enterprises gradually entering the transition,it is found that private enterprises with second-generation entry have higher levels of charitable donations than private enterprises without second-generation entry.The higher the degree of involvement,the stronger the family's control over the business,and the more significant the second-generation involvement in regulating the relationship between the owners' wealth and charitable donations.Finally,this paper incorporates the degree of separation of the two rights into the theoretical model.It is found that the separation of the two rights will reversely regulate the relationship between the increase in entrepreneurs 'wealth and the increase in corporate donations.The higher the entrepreneur's willingness to donate to charity,the lower the wealth.There are two main innovations in this article.One is that in previous researches on corporate charitable donations,the corporate level was used as the research object to analyze the corporate charitable donation motivation and its influencing factors.The research concept of the relationship between entrepreneur wealth accumulation and the level of corporate philanthropy was proposed for the research subjects,and the money theory of psychological research was introduced as the core theory supporting this article,which broadened the scope of interdisciplinary research and enriched the charitable donations reference.The second is that in the previous literature,the research on charitable donations of private enterprises mostly focused on the level of family governance or corporate governance,but this article combines the two,based on the separation of the two powers under corporate governance and the integration of second-generation involvement under family governance.From the perspective,analyze the impact of the two on entrepreneurs' charitable donation decisions,broaden the research dimension,and provide reference value.