Research On The Impact Of Charitable Donation Behavior On Financial Performance Of Enterprises

In recent years,under the background of frequent natural disasters in Chinas charitable donation has become a core means for enterprises to fulfill their social responsibilities,As a pillar industry of the national economy,the charitable donation behavior of the real estate industry has become a common phenomenon,The motivation behind such dortation behavior and its impact on the financial performance of enterprises have attracted more and more attention from academia and practitioners.This paper takes the listed companies of A-share real esta,te industry as the research object,and uses literature review,questionnaire sutvey,quantitative analysis and empirical analysis to construct the technical route of this paper.Focusing on the relevance of charitable donation to the financial performance of enterprises,and the motivation behind it,the paper establishes a model and carries out analysis.In this paper,stakeholder theory,social responsibility theory,strategic charity theory and social contract theory are studied and sorted out Scholars at home and abroad believe that the motives affecting corporate philanthropic donations can be understood as altruistic motives,strategic motives,political motives,managerial opportunistic motives,and so on.There are three types of relationships between philanthropic donations and corporate financial performance:positive correlation.negative c.orrelation and irrelevance.On this basis,this paper puts forward theoretical hypothesis and tries to test the influence of the altruistic motivation,business income motivation and political motivation of charitable donation on the financial performance of real estate enterprises.The donation mode of real estate enterprises includes direct point-to-point donation,direct establishment of public welfare projects and indirect injection of public welfare projects.The flow of donated funds to diversified areas of social services,on the basis of meeting the expectations of the public,continu ously assists the government to upgrade the modernization level of social governance system and governance capacity.There are three kinds of prablems that need to be improved in the charitable donation of real estate enterprises in China,namely,the lack of timely and specific disclosure of charitable information,the large amount of charitable donation when the financial performance declines,and the lack of a sound charitable donation mechanism.This paper uses structural equation model to empirically analyze the specific impact of corporate p hilanthropic donation on corporate financial performance.In the first level of the model,eight second level independent variables are set up.On the basis of the above-mentioned correlation hypothesis the theoretical model of the impact of charitable donation behavior on the financial performance of real estate enterprises is constructed.Based on the multi-collinearity analysis of the collected data,this paper uses structural equation model to empirically analyze the impact of altruistic motivation,business income motivation and political m otivation on corporate financial performance.It lays the foundation for the related research strategies,Empirical results show that business income motivation plays the strongest role in corporate financial performance,followed by altruistic motivation and political motivation.From this prospective,the theoretical assumptions proposed in this model are acceptable.Finally,the enlightenment of this study includes that enterprises should establish a strategic charitable donation system to improve the business returns of corporate philanthropy,and the government should improve the relevant policies of charitable donation,so that all sectors of society can achieve a virtuous circle of government charitable governance of "government policy guidance enterprise charitable practice government policy optimization".