高管贫困经历与企业慈善捐赠  

CEOs' Poverty Experience and Corporate Philanthropy

作　　者：许年行[1] 李哲[1] Xu Nianhang Li Zhe(School of Business,Renmin University of Chin)

机构地区：[1]中国人民大学商学院

出　　处：《经济研究》2016年第12期133-146,共14页Economic Research Journal

基　　金：国家自然科学基金优秀青年基金项目(批准号:71622010);"中组部青年拔尖人才支持项目";霍英东教育基金会第十四届高等院校青年教师基金基础性研究课题资助项目(批准号:141080)对本研究的支持

摘　　要：本文利用2006—2014年上市公司慈善捐赠数据,研究高管贫困经历(出生地贫困程度或童年是否具有"大饥荒"经历)对企业慈善捐赠行为的影响,并考察汶川地震这一自然灾害的外生冲击如何影响两者之间的关系。研究发现:(1)当CEO出生于贫困地区,其所在企业进行了更多的社会慈善捐赠,同时,那些早期经历过"大饥荒"的CEO所在企业的慈善捐赠水平也更高;(2)有过贫困经历的CEO所在企业的慈善捐赠水平在地震发生后有更大幅度的提高。这些结论在经过一系列稳健性测试后依然稳健。进一步研究发现,出生于富裕地区的CEO所在企业并未捐赠更多,并且,有过贫困经历且受过良好教育的CEO进行更多的慈善捐赠以回馈社会,有过饥荒经历且家乡饥荒程度更严重的CEO更加慷慨,政治关联状况并不影响两者之间的关系。最后,有过贫困经历CEO所在企业的在职消费水平更低,说明其能够做到对别人慷慨而对自己节俭。本文不仅从新的视角推进了企业慈善捐赠动机的研究,对于企业如何更好地履行社会责任、促进社会共同发展也具有重要的现实意义。By using the donation data of listed firms in 2006-2014, we investigate how a CEO＇s early-life poverty experience affects corporate philanthropy, as well as how the Wenchuan earthquake affects this relationship. The results show that, firstly, firms with CEOs born in poverty counties or grown up during ＂Great Famine＂ donate more to the society. Secondly, after the Wenchuan earthquake, there is much more increase in corporate donation for firms whose CEOs have poverty experience, indicating that the external shock of natural disasters could deeply touch the hearts of CEOs with poverty experience. These findings remain robust after a battery of robustness checks. Further analyses find that CEOs born in affluent areas do not outperform in corporate philanthropy. In addition, well-educated CEOs with poverty experience donate more to the society; CEOs born in a place where it suffered more serious famine in 1959-1961are more generous; however, political connections do not affect this relationship. Finally, CEOs with poverty experience have lower perk consumption.

关 键 词：慈善捐赠 出生地贫困程度 童年“大饥荒”经历 汶川地震 

分 类 号：C913.7[经济管理] F272.91[社会学]