政治联系方式与民营企业捐赠:度量方法与经验证据  

Political Connections and Donation of Private Listed Companies:Measurement Methods and Empirical Evidence

作　　者：杜兴强[1] 郭剑花[1] 雷宇[1] 

机构地区：[1]厦门大学管理学院,福建厦门361005

出　　处：《财贸研究》2010年第1期89-99,共11页Finance and Trade Research

基　　金：国家社会科学基金资助项目"会计准则;会计信息质量与会计信息的契约有用性研究"(项目号:07CJY010)

摘　　要：选择公益性捐赠视角,手工搜集了中国资本市场民营上市公司的政治联系数据。将政治联系区分为政府官员类政治联系和代表委员类政治联系两类,在虚拟变量法的基础上拓宽了政治联系的度量方法,进行适当的赋值,并同时采纳"赋值法"和"虚拟变量法",实证检验了民营企业的政治联系方式对其捐赠行为的影响。研究结果表明:无论采取"赋值法"还是"虚拟变量法",民营上市公司的代表委员类政治联系对捐赠金额存在显著的、正向的影响,但政府官员类政治联系对其捐赠金额无显著影响;此外,"赋值法"和"虚拟变量法"的统计显著性虽然一致,但是经济显著性却存在差异,赋值法能够更好地勾勒不同的政治联系层级对捐赠金额的影响,且拟合较优。Based on the manually collected data of political connections, this paper examines the effect of political connections in private listed companies on their donation behavior in view of charitable donation, where political connections are classified as ＂government officials＂ connections and ＂members of PC and CPPCC＂ connections. Both dummy method and graded method are used to measure political connections. The results confirm that no matter which method is used, ＂members of PC and CPPCC＂ connections have significant positive effect on charitable donation, whereas ＂government officials＂ connections have no significant effect in private listed companies. Additionally, although the statistical significance of dummy method and graded method is same, under graded method we can get the effect of different political connection ranks on donation and goodness-of-fit is better.

关 键 词：政治联系方式 政府官员类政治联系 代表委员类政治联系 公益性捐赠 赋值法 虚拟变量法 

分 类 号：F270[经济管理—企业管理]