The Correlation Study Of Corporate Philanthropy And Corporate Performance

Since Corporate social responsibility has put forward, it has always been widespread concerned in the community, the enterprise charity as the main form to corporate social responsibility, in recent years have been discussed by many scholars, foreign has researched donation about enterprise theory very early, also have more empirical research; But in China, most of the discussion for enterprise donation focused on ethics and the research of the scope of culture, and empirical studies was concerned only part of the scholars in2008after wen chuan earthquake, The existing empirical research, mostly focused on the analysis of the unilateral, few scholars put the whole enterprise performance as the research object, and the relatively large difference to the conclusion.In this context, the article with a donation for the enterprise whether a return for the enterprise, as well as companies with good financial resources would make more charitable donations to these two issues, to the enterprise donation and enterprise performance analysis of correlation. The article first summarizes the connotation of corporate giving and related theory, the overall performance of the enterprise as the object of study, focusing on corporate social performance and corporate financial performance, two aspects of comprehensive analysis of corporate donations and corporate performance, in the measure of corporate social the relationship between performance and corporate donations, the first analysis of corporate social performance evaluation, and stakeholder-based evaluation model, use the RDAP mode, focus from main stakeholders and secondary stakeholders, in the external patterns from two aspects of social responsibility and social sensitivity analysis of the relevance of corporate donation and corporate social performance.The correlation analysis of corporate charitable donations and corporate financial performance, mainly in the empirical analysis in order to test the hypothesis, his paper adopts correlation inspection, descriptive statistics and multiple linear regression equation method for analysis. Shenzhen exchanges with Shanghai a-share listed companies as the research object, found in three years had been seen (*st) of the enterprise, the domestic B shares and enterprise overseas listed company, and railway, aviation, petroleum and other monopoly industries of this a few special kinds of sample size, the selection of2008to2010for three consecutive years had enterprise donation of87companies, A total of261samples as the research object, using multiple regression model of the empirical analysis.The results show that the enterprise charitable donations will increase the enterprise’s financial performance, both showed a positive correlation; charitable donations to the lagged effects of impact on corporate financial performance. But the enterprise financial performance of enterprise of charitable donations no significant influence, show that the enterprise financial benefit of good and bad for enterprise charitable donations and not directly influence; In addition, also found that the industry factor to enterprise donation has significantly positive correlation, this suggests that the production of the terminal product enterprise (that is, product direct contact with consumers of enterprise) will not end products than production (i.e. no direct contact with the consumer products of the enterprise) of the enterprise to make more enterprise charity. Finally, the regulating effect of the enterprises of public concern was not significant, indicating that relatively small corporate public concern about the impact of corporate charitable donations and financial performance.