Charitable Donations, Political Connections and Top Executive Stock Ownership:Evidence from Chinese Listed Companies

DOI

10.2991/iccese-17.2017.179How to use a DOI?

Keywords

charitable donations; political connections; top executive stock ownership; institutional environment

Abstract

Based on resource dependence theory, principal-agent theory and institutional theory, a total of 893 samples from 2008 to 2014 were empirical analyzed, this paper studies the relationship between the intensity of charitable donation, political connections, institutional environment and the change of top executive stock ownership in China. Our results indicate that(1)Charitable donation is positively related to top executive stock ownership.(2)Charitable donations are positively correlated with top executive stock ownership in companies with political connections. However, in a companies without political connections, the relationship is not significant.(3)The degree of marketization has a significant positive moderating effect on the correlation between charitable donation and top executive stock ownership. However, in companies without political connections, the moderating effect of the degree of marketization on charitable donation and top executive stock ownership is not obvious.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Ying Shu
PY  - 2017/05
DA  - 2017/05
TI  - Charitable Donations, Political Connections and Top Executive Stock Ownership:Evidence from Chinese Listed Companies
BT  - Proceedings of the 2017 International Conference on Culture, Education and Financial Development of Modern Society (ICCESE 2017)
PB  - Atlantis Press
SP  - 705
EP  - 709
SN  - 2352-5398
UR  - https://doi.org/10.2991/iccese-17.2017.179
DO  - 10.2991/iccese-17.2017.179
ID  - Shu2017/05
ER  -