The Study Of Returnee CEO’s Effects On Corporate Philanthropy

With the development and openness of Chinese society,people have more chances to get to know the outside world.Studying abroad has become the common phenomenon in these years which was the fashion and rare occurrence in the 20th century.And there are more and more foreign investments.Due to these reasons,concepts of business administration in China has been changed a lot in some degree.According to upper echelons theory,managers’ status、background and personal characteristics play a significant role in company’s decisions.From this perspective,many experts and scholars have done a lot of researches on managers and their groups’age、education background、sex、marriage and psychological characteristics.With the implementation of government’s "thousand talent plan",people get to know more and more returned talents.The number of researches based on returned talents is growing bigger and bigger,which tries to test if managers who experienced cross-cultural conflicts and owned knowledge of overseas mature management practice will make difference on company strategy.According to report published by China Charity Alliance,American donated over 410 billion dollars(about 2700 billion RMB)in 2017,accounting for 2.1%of GDP,while our country donated nearly 150 billion RMB,about 0.18%of GDP.In sum of donation,American is 18 times bigger than us.The figure is 12 times bigger when it comes to the percentage in GDP.From this perspective,it is necessary to find out how to raise corporates’ conscious of social responsibility and enhance the input of charitable giving.Nowadays,researches around returned managers mostly focus on the fields of technology diffusion、technological innovation、risk taking、earnings management、internationalization and investment abroad.There are few researches on corporate social responsibility especially the direction of charitable giving.Therefore,based on imprinting theory and upper echelon theory,this study selects the 2008-2017 chinese A-share listed companies which are not in the field of finance as the focus of research,chooses managers’ overseas background data from annual reports and reports from some authoritative financial websites.Based on reviewing most of chinese and foreign relevant literatures and theoretical studies,this paper addresses the hypothesis and sets up the research model,makes the empirical analysis of the relationship between returned managers and corporate charitable giving.The empirical results show that CEO’s overseas backgrounds have a positive impact on corporate charitable giving,which means the company that has returned CEO is more likely to conduct charitable giving.When the CEO is more powerful,its positive influence will be more important.The company whose CEO worked abroad is more likely to conduct charitable giving.and the company whose CEO studied abroad is not the same case,which can be explained by two aspects——mind and capability.This paper discovers the positive relationship between CEO’s overseas backgrounds and corporate charitable giving through theoretical studies and empirical analysis,which enriches the theory of corporate charitable giving and corporate governance,and make great sense both in management theory and corporate practice.