The Impact Of Industry Differences And Regional Epidemics On Corporate Pilanthropy

As an important part of social governance,corporate philanthropy plays an important role in regulating social operation mechanism.In the stable market environment,enterprises actively participate in charity activities in pursuit of long-term development,so as to obtain more economic benefits or government support.Most of the previous literatures studied corporate charitable giving behavior under the background of stable market,and only considered external or internal factors.However,the external environment has changed greatly due to the outbreak of COVID-19.At this time,enterprises with different industry characteristics appear in the priority of disaster response time,and there is a wide gap in the level of donation.It is noteworthy that the timing and amount of corporate donations are significantly related to the epidemic level in the region.Why does the donation behavior of enterprises in different industries differ greatly in the environment of major public crisis and stable environment?What are the factors that affect giving in the face of operational risk?We suspect that external factors will strengthen the influence of enterprises,and their internal decisions will be changed accordingly.The integration of external factors and enterprises’ internal capabilities has a complex impact on enterprises’ philanthropic behavior.In order to verify the above speculation,based on relevant theories such as system,stakeholder and resource base,this paper integrates industry characteristics,regional epidemic situation,media attention and enterprise resource capacity,constructs a theoretical system of enterprise donation time and level,industry difference and regional epidemic degree,and proposes eight research hypotheses.Taking A-share listed companies in Shanghai and Shenzhen in 2020 as research samples,this paper discusses the influence mechanism of industry characteristics,regional epidemic and external media pressure on corporate charitable donation in the context of COVID-19.The empirical results show that both the time and level of corporate donation are positively promoted by the medical and public health industries,and the relationship will be positively enhanced under the adjustment of media pressure.There is a negative relationship between regional epidemic and the time and level of enterprise donation,and the negative relationship will be weakened when the enterprise has sufficient redundant resources.Finally,the robustness test is carried out and the test results are consistent with the empirical results.The research results of this paper break through the limitations of previous research,and comprehensively discuss the attitude of corporate donation under the specific background combining with the time and amount of corporate donation.On the other hand,to help enterprises develop a standardized charitable donation mechanism is conducive to rational government control and policy support.