Research On The Relationship Between Excess Perquisites And Philanthropy

Under the background of the continuous progress of social civilization and the increasingly prominent goal of people’s common prosperity,my country’s public welfare and philanthropy are developing in full swing,and enterprises play an important role in promoting my country’s third distribution role.However,we are well aware that profit is the most basic goal of an enterprise,and engaging in charitable activities without asking for return goes against the original intention of the enterprise.Charitable donations reflect the responsibility and responsibility of the company,and endow the company with a more responsible friendly label.However,it is hard to imagine that a company that actively fulfills its charitable responsibility has been exposed to scandals of financial fraud,tax evasion or debt crisis.It is difficult to associate charitable moral models with illegal and immoral acts.As a result,a question arises: Is charitable donation a manifestation of social responsibility,or is it a tool for management to cover up opportunistic behavior and divert public attention?In addition,what is the impact of enterprises with differences in their own characteristics or external governance mechanisms? This is the main question that this paper intends to explore.Based on stakeholder theory,impression management theory and corporate social responsibility theory,this paper uses the data of 3602 A-share companies in Shanghai and Shenzhen from 2005 to 2020 as the initial sample to study the difference in the impact of management’s excess on-the-job consumption on corporate charitable donations.The study found that management’s excess on-the-job consumption has a positive impact on charitable donations.The main reason is that in order to conceal opportunistic behavior and divert the attention of stakeholders inside and outside the company,the management will actively choose charitable donations as a tool for its management defense.And the moderating effect of this relationship is tested by grouping from the two dimensions of enterprise property rights and media attention,and the conclusions are as follows: Compared with state-owned enterprises,nonstate-owned enterprise management’s excess on-the-job consumption has a more positive impact on charitable donations.Obviously;compared with companies with low media attention,the positive impact of management’s excess on-the-job consumption on charitable donations is more obvious in companies with high media attention.The above research results show that corporate charitable donations may not be motivated by altruistic motives,but actually become a management defense tool for co rporate management to consolidate their status and maintain a good reputation.This paper enriches the relevant research on the instrumental motivation of charitable donations from the perspective of excess on-the-job consumption.At the same time,the research of this paper provides a new understanding for analyzing how corporate management responds to internal and external stakeholders’ defensive behavior.