慈善捐赠对全要素生产率的影响研究  

Research on the Impact of Charitable Donation on Total Factor Productivity

作　　者：李金甜 刘源 郑建明[2] LI Jin-tian;LIU Yuan;ZHENG Jian-ming

机构地区：[1]北京工商大学商学院 [2]对外经济贸易大学国际商学院

出　　处：《科学决策》2023年第8期1-20,共20页Scientific Decision Making

基　　金：国家自然科学基金青年项目(项目编号:72102006);北京社科基金规划项目(项目编号:22GLC051)。

摘　　要：在“经济结构转型升级”和“全面追求共同富裕”的新时代背景下,文章深入探究了慈善捐赠对全要素生产率的影响结果及作用机制,并从外部环境和内部治理两个视角分析了其影响的异质性。研究发现,慈善捐赠通过提供优质的人力资本和充足的物质资本间接提高了企业的全要素生产率,且市场化程度、经济政策不确定性和内部控制质量会对慈善捐赠与全要素生产率的关系产生正向影响,而高管股权激励对二者关系产生了负向影响。研究结论为助力企业高质量发展、实现社会公益与经济效益共赢提供了经验指导。Under the new era background of“economic structure transformation and upgrading”and“comprehensive pursuit of common prosperity”,this paper deeply explores the influence results and action mechanism of charitable donation on total factor productivity,and analyzes the heterogeneity influence from the perspectives of external environment and internal governance.The study found that charitable donation indirectly improved total factor productivity of enterprises by providing high-quality human capital and sufficient physical capital,and the degree of marketization,economic policy uncertainty and internal control quality positively adjusted the relationship between charitable donations and total factor productivity,while executive equity incentive had a negative impact on the relationship between them.The research conclusion provides empirical guidance for assisting enterprises in high-quality development and achieving a win-win situation between social welfare and economic benefits.

关 键 词：慈善捐赠 全要素生产率 人力资本 物质资本 

分 类 号：F272.3[经济管理—企业管理] F275.5[经济管理—国民经济]