慈善捐赠与企业区域扩张  

Corporate Charitable Donations and Regional Expansion in China

作　　者：高丹雪 张鸿[2] 仲为国 GAO Dan-xue;ZHANG Hong;ZHONG Wei-guo(School of Business,Central University of Finance and Economics,Beijing,100081,China;Guanghua School of Management,Peking University,Beijing,100871,China)

机构地区：[1]中央财经大学商学院,北京100081 [2]北京大学光华管理学院,北京100871

出　　处：《经济管理》2018年第12期55-71,共17页Business and Management Journal ( BMJ )

基　　金：国家自然科学基金项目"转型经济背景下企业制度影响能力跃迁机制与路径:基于制度;网络与知识的视角"(71572005);教育部人文社会科学规划基金项目"地理距离;制度距离与企业异地子公司进入模式与股权战略的联系研究"(18YJA630067)

摘　　要：本文以中国国内市场分割为背景,探讨了慈善捐赠帮助企业打破市场分割藩篱,实现跨区域扩张战略的重要意义。本文以中国上市公司为样本,手工收集了2007—2014年企业区域扩张数据,并建立跨层模型对企业区域扩张行为进行实证分析。研究发现:慈善捐赠与企业区域扩张程度显著正相关,这一关系对国有企业和政治关联企业较弱,对外部环境中市场分割程度较高以及经济增速压力较大的企业来说较强。本文指出慈善捐赠可以作为企业克服市场分割的一种战略行动,对现有研究和管理实践均具有一定的贡献。How to achieve enterprise growth is the core issue of enterprise development.Cross-regional expansion,i.e.regional diversification,represents a key strategic choice within the process of enterprises growth.Regional diversification can be further divided into domestic regional expansion and internationalization,according to whether investment activities move crosses national borders.Domestic regional expansion is important for firms since it not only helps firm gain scale advantages,but also have profound implications to improve their international competitiveness.Western literature has identified various economic factors contributing to firm domestic expansion strategies.Chinese firms,however,face more institutional constraints,especially the inter-regional market segmentation,in their regional expansions.As the unique political-economic conditions in China create strong incentives for local government to compete based on economic growth,inter-regional flows of economic resources are significantly discouraged.The extant literature has conducted sufficient research on the restricting role of market segmentation on corporate cross-regionalexpansions.However,as key economic resources often have obvious cross-regional heterogeneity and localness,companies still have strong incentives to invest in different places,optimize the use of economic resources,and achieve scale expansion.Based on this recognition,the question regarding how companies can overcome market segmentation during regional expansion has seen no systematic answer in the literature,thus becomes the core research question for this study.Adopting the perspective of institutionalconformity,this research examines how firms utilize corporate donation to facilitate their regional expansion strategies.The extant literature has conducted various research on corporate charitable donations and found that companies are motivated to make charitable donations based on institutional obedience.The explanatory power of this perspective is particularly significant in th

关 键 词：区域扩张 慈善捐赠 市场分割 

分 类 号：F270[经济管理—企业管理]