| China is one of the countries gravely affected by meteorological disasters in the world.Meteorological disasters will bring adverse effects to the social and economic development.As one of the important subjects of social and economic activities,enterprises will inevitably be affected by the negative impact of meteorological disasters.That embodies mainly that meteorological disasters will have great negative impact on the production and operation of enterprises.Meanwhile,enterprises are the important subjects of performing social responsibility.Corporate social responsibility can be divided into four levels: economic responsibility,legal responsibility,ethical responsibility and philanthropic responsibility,among which philanthropic responsibility is the highest form of corporate social responsibility.At present,there are two main forms of philanthropic responsibility for Chinese enterprises:charitable donation and targeted poverty alleviation.Targeted poverty alleviation has some certain characteristics of charitable donation,and transcends corporate charitable donation in connotation.The latter is the basic form of corporate charitable responsibility,while the former is the advanced form of Chinese corporate philanthropic responsibility in the new era.With the completion of an all-round well-off society in 2021,China has completely eliminated absolute poverty,and achieving common prosperity for all the people has become an important strategic arrangement for the Communist Party of China.The Communist Party of China and the state have repeatedly stressed the need to give full play to the social functions of the third distribution in order to promote the realization of the long-term goal of common prosperity for all the people.Therefore,in view of the present situation that meteorological disasters have become increasingly frequent and their intensity also increased significantly,the Communist Party of China and the state put forward ‘third distribution’ to help achieve the long-term goal of common prosperity for all the people,this paper utilizes empirical test method to explore how meteorological disasters work on Chinese listed companies philanthropic responsibility forms.And on the basis of the existing empirical research conclusions,constructing the asymmetric evolutionary game model of local government and enterprise’s strategy choice under the impact of meteorological disasters to explore the effective coping strategies for solving the problem of enterprise’s lack of philanthropic responsibility under the impact of meteorological disasters.The main contents and research conclusions are summarized as follows:(1)This study explores the impact of meteorological disasters on corporate charitable giving which is the the primary form of corporate philanthropic responsibility.First of all,in general,meteorological disasters have significant negative effect on corporate charitable giving.It means that meteorological disasters will not only inhibit the willingness of enterprises,but also reduce the level of charitable donation of enterprises.Besides,through the test of the mediating mechanism in the expansion analysis,this study also find that meteorological disasters can cause the crowding out effect of government disaster relief behavior and the lack of external supervision for enterprises.And then reducing the charity donation willingness and expenditure level of enterprises.In addition,Through the analysis of heterogeneity in industry and enterprises,it is found that the negative effect of meteorological disasters on corporate charitable donations will also be affected by the characteristics of the industries of enterprises.For example,it mainly exists in the enterprises that have direct contact between products and consumers,and the industry is highly competitive.Meteorological disasters have significant negative effect on the charitable donation behavior of good operating conditions and large enterprises in the early stage.The impact on the enterprises that have early poor business operating conditions and small scale is not significant.The negative effect of meteorological disasters on corporate charitable donations only exist significantly in state-owned enterprises,and not in private enterprises.Finally,through the empirical analysis of different disasters,we discover that the impacts of different meteorological disasters on corporate charitable donation behavior are significantly different.(2)This paper further empirically tests how meteorological disasters act on the high form of corporate philanthropic responsibility.The study found that: in general,meteorological disasters have positive effect on targeted poverty alleviation.Secondly,the test of macro environment shows that listed companies located undeveloped regions or areas with poor institutional environment and government financial pressure are high will more actively participate in targeted poverty alleviation after the disaster.Third,firms respond actively to the government called on poverty alleviation following the disasters out of political motivation and strategic motivation.And other opportunistic motivations for firms to participate in targeted poverty alleviation following the disasters show no significant effect.Specifically,the positive effect of meteorological disasters on enterprise poverty alleviation mainly exists in enterprises with poor resource acquisition ability.These enterprises actively participate in poverty alleviation after the disaster,which helps them obtain the political resource of government subsidies.Furthermore,corporate poverty alleviation behavior following disasters indeed improve the future market value and financing ability.However,based on other opportunistic motivation tests,it is only found that meteorological disasters have a significant positive effect on the poverty alleviation behavior of enterprises with low external reputation risk.Fourth,in general,corporate poverty alleviation behavior following disasters fails to exert significant effects on the number of poor-assisted.Moreover,corporate poverty alleviation behavior following disasters in the undeveloped regions shows the negative effects.Finally,through the empirical analysis of different disasters,it is found that different types of meteorological disasters also significantly affect the enterprises targeted poverty alleviation behavior.(3)Finally,this paper constructs an asymmetric dynamic evolution game model considering the decision-making of government and enterprises under the impact of meteorological disasters,and discuss guiding strategies for corporate philanthropic responsibility.The results show that the interaction between local governments and enterprises following meteorological disasters will eventually form three evolutionary stable strategies.They are(0,1),(1,1)and(0,0)respectively.Combined with the reality that corporate social responsibility in China is still in the "starter" stage,it is indispensable for the governments to properly intervene to promote enterprises to actively fulfill their philanthropy responsibility of donation.Therefore,this paper believes that the ESS which means local government take incentives and enterprises fulfill their philanthropy responsibility of donation is more meaningful.It will be beneficial for solving the problem of lack of charitable donations of enterprises under the negative impact of meteorological disasters.in addition,There are multiple evolutionary equilibrium in case V,and the system will evolve to two trends: ideal state that government take incentives and enterprises fulfill their philanthropy responsibilities or bad state that no government incentives and enterprises fails to make donations,and they are influenced by multiple factors.From the sensitivity analysis of each parameter,this study find that there is an optimal value of cost compensation,which makes it possible to realize the ideal state of local government incentives and corporate donations following disasters.That means the government’s cost compensation is not as high as possible.The government cost compensation within a certain range will positively promote the evolution of the system to the ideal state.If the cost compensation exceeds optimal value,the system will gradually converge to the bad state where the government does not encourage and the enterprises do not perform.In addition,the probability of corporate charitable donations being paid attention by the public after the disaster,all kinds of benefits gained by corporate fulfillment strategies after the disaster,and image and reputation losses caused by corporate take non-fulfillment strategy following the disaster are greater,It is more likely that the system will converge to the stable point(1,1).It means that these factors have a positive role in promoting the evolution of the system to the ideal state.Inversely,If the positive external donation after the disaster leads to the outflow of related resources,which in turn affects the opportunity loss caused by the recovery of enterprises after the disaster,the profit caused by the non-performance strategy of enterprises after the disaster,and the hidden agency cost caused by the charitable donation of enterprises are smaller,then the system is more likely to evolve to the stable point(1,1).That means these factors have inhibitory effects on the evolution of the system to be the ideal state.The main innovation of this paper are:(1)Research ideas.The study approach based on empirical analysis and guidance strategy research breaks through the limitations of existing research focusing more on empirical analysis and less on countermeasure research.It also fits the research paradigm of discovering and solving problems in management science,and remedies the shortcomings of existing research to a certain extent.(2)Research perspectives.This article which links meteorological disasters and various forms of corporate philanthropic responsibility can explore the driving factors of corporate philanthropic responsibility from the perspective of exogenous shocks,and enrich the research on the micro effects of meteorological disasters.(3)The innovation in theoretical research.Firstly,Compared to existing literature that focuses more on corporate philanthropy and less on targeted poverty alleviation,this article empirically reveals how meteorological disasters affect the forms of corporate philanthropic responsibility in China.It can expand the research system of corporate social responsibility under exogenous shocks,and provide empirical evidence for continuously consolidating poverty alleviation achievements to gradually achieve the transition from poverty alleviation to rural revitalization.Secondly,building a game model based on empirical conclusions can provide theoretical foundation for effectively guiding enterprises to make positive charitable responsibility decisions after disasters. |
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