Institutional cross-ownership and corporate philanthropy

被引：14
|
作者：
Fu, Yishu [1 ]
Qin, Zhenjiang [2 ]
机构：
[1] Southwestern Univ Finance & Econ, Inst Chinese Financial Studies, Chengdu, Peoples R China
[2] Univ Macau, Fac Business Adm, Macau, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2021年 / 43卷
关键词：
Corporate philanthropy; Institutional cross-ownership; China; PRICE;
D O I：
10.1016/j.frl.2021.101996
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using a sample of Chinese listed firms from 2006 to 2018, we find that institutional cross ownership in the same industry increases corporate philanthropic giving. Our findings imply that strengthened governance and greater peer pressure from a common ownership increase politically motivated corporate philanthropy in China. Besides, this positive association is weaker for firms with better political connections, but stronger for firms with greater visibility.
引用
收藏
页数：8
相关论文
共 50 条
  • [1] Institutional cross-ownership and corporate strategy: The case of mergers and acquisitions
    Brooks, Chris
    Chen, Zhong
    Zeng, Yeqin
    [J]. JOURNAL OF CORPORATE FINANCE, 2018, 48 : 187 - 216
  • [2] Corporate financing of investment opportunities in a world of institutional cross-ownership
    Chen, Yangyang
    Li, Qingyuan
    Ng, Jeffrey
    Wang, Chong
    [J]. JOURNAL OF CORPORATE FINANCE, 2021, 69
  • [3] Cross-ownership and corporate social responsibility
    Barcena-Ruiz, Juan Carlos
    Sagasta, Amagoia
    [J]. MANCHESTER SCHOOL, 2021, 89 (04): : 367 - 384
  • [4] The effect of institutional cross-ownership on corporate risk-taking in a transitional economy
    Yin, Wenjing
    Li, Weiping
    Yu, Yumiao
    [J]. PACIFIC-BASIN FINANCE JOURNAL, 2024, 83
  • [5] The power of sharing: Evidence from institutional investor cross-ownership and corporate innovation
    Gao, Kaijuan
    Shen, Hanxiao
    Gao, Xi
    Chan, Kam C.
    [J]. INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2019, 63 : 284 - 296
  • [6] Institutional cross-ownership and firm social performance
    Fu, Yishu
    Liu, Chunbo
    Qin, Zhenjiang
    Zhao, Dongwei
    [J]. CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW, 2022, 30 (06) : 738 - 764
  • [7] Institutional cross-ownership and stock price crash risk
    Hou, Canran
    Liu, Huan
    [J]. RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2023, 65
  • [8] Internalizing governance externalities: The role of institutional cross-ownership
    He, Jie
    Huang, Jiekun
    Zhao, Shan
    [J]. JOURNAL OF FINANCIAL ECONOMICS, 2019, 134 (02) : 400 - 418
  • [9] Cross-ownership and corporate ESG investment: Promotion or suppression?
    Zhou, Maochun
    Niu, Yuhua
    [J]. CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, 2024,
  • [10] The Impact of Institutional Cross-ownership on Corporate Tax Avoidance: Evidence from Chinese Listed Firms
    Xiao, He
    Xi, Jianqun
    [J]. AUSTRALIAN ACCOUNTING REVIEW, 2023, 33 (01) : 86 - 105
12345