Political Connection And Public Welfare Donation Of Enterprises

Under the background of China’s special economic system,the relationship between government and enterprises has never been completely separated.Although in the market economy,the separation of the relationship between government and enterprise is one of its basic attributes,in reality,the relationship between government and enterprise is always not completely separated,but only separated in a specific environment.The relationship between government and enterprise is not only independent of each other,but also influenced each other.Public welfare donation has gradually become a topic of concern to the government,enterprises and the public.In recent years,frequent natural disasters have accelerated the development of public welfare donation in China.For enterprises,public welfare donation is not only a public welfare activity of giving back to the society unselfishly,but also gradually evolves into an activity that can benefit both the government and enterprises.Firstly,based on the systematic review and summary of the existing literature,this paper proposes to take the influence of political association on public welfare donation as the research object.On the one hand,it enriches the literature on the influence of political association on the behavior of micro enterprises.On the other hand,compared with the existing research,the increase of natural disasters will stimulate the motivation of government officials to help,and the new content of what changes will happen to the public welfare donation of enterprises under the influence of political association provides a new direction for the research.Secondly,on the basis of theoretical research review,this paper proposes the research hypothesis of this paper,that is,in theory,there is a correlation between corporate public welfare donation and political association.After determining the research hypothesis,the paper applies the practical data to the theoretical deduction to test,and explains the influence mechanism of political association on the public welfare donation of enterprises.Based on the resource dependence theory,signal display effect,signal transmission effect,political motivation mechanism and reward system,on the basis of using the 2009-2014 data of Chinese listed companies,introducing the external shocks,Yushu earthquake validation concluded that the occurrence of natural disasters can stimulate motivation of local officials in relief,after local officials have rescue motivation,no political associated companies see this as a kind of relationship between government and enterprises to establish opportunities,more willing to cooperate with the government in public welfare donation.Combined with the marketization index of all provinces and regions in China,this paper also finds that the lower the marketization degree is,the greater the government’s right to resource allocation will be,and enterprises will rely more on the government in such a situation.In order to better reduce the ambiguity caused by the government in the allocation of resources,enterprises will be more active in public welfare donation activities.Based on empirical data,this paper verifies the conclusion: after local officials have the incentive to rescue,compared with regions with a high degree of marketization,in regions with a low degree of marketization,enterprises without political connections are more willing to cooperate with the government in public welfare donation.There are two innovations in this paper.First of all,from the perspective of research,this paper selects the dimension of political correlation to deeply discuss that under the special institutional background of China,participating in public welfare donation is the realistic way for enterprises to seek the relationship between government and enterprises.From the logic point of view,this paper demonstrates that the public welfare donation behavior of enterprises is no longer purely altruistic motivation,but also contains a certain political motivation.Secondly,this paper focuses on the introduction of external shocks,taking the natural disaster(Yushu earthquake)as the proxy variable to analyze the different impacts of political association on the public welfare donation of enterprises,and emphasizes that external shocks are more likely to stimulate the relief motivation of local officials,thus affecting the public welfare donation of enterprises.This is not involved in the existing literature,can provide a new perspective for future research,with a certain research value.