A Study On The Motivation Of Public Donation Behavior Of The Foremost Controller Of Listed Companies And Its Impact On Corporate Performance

"Charity Donation" and "Precision Poverty Alleviation" have become high-frequency words in recent years.With the improvement of relevant laws and regulations and the improvement of system,more and more listed companies have joined the ranks of charitable donations,in order to fulfill the social responsibility of enterprises.For academic circles,the views of literature review at home and abroad are different,which makes charitable donation become a worthy topic of study.It is worth noting that most of the literature is now exploring some connection between corporate donation behavior and business performance.In contrast,there is less literature on the relationship between the donation behavior of the actual controlling person and the business performance.It is beneficial to further broaden the current literature research progress.This paper is mainly based on stakeholders and strategic charity theory.We first use the case analysis method to qualitatively analyze the possible motivation behind the continuous charity donation of Fuyao Group actual controller from2011-2019.Secondly,the financial indicators of Fuyao Group from 2011-2019 were longitudinal compared,with horizontal comparison with the mean of the same industry,starting with the financial indicators,and analyzed the impact of its donation behavior on the business performance of Fuyao Group from four aspects.Finally,combined with the event study method,the market performance response caused by two events,"Establishment of charity Foundation in 2011" and "Fuyao Group in 2020",was analyzed,so as to analyze the impact of its donation behavior on the market performance of Fuyao Group.The research has found that Fuyao Group actually controls the behavior of public welfare donation that will have a positive impact on the operation and market performance of enterprises.Through the case analysis of the foremost controller of the listed company as the starting point,on the one hand,the research on the motivation of corporate charitable donation is supplemented.On the other hand,provides a certain reference value about the relationship between charitable donation and performance.To reach the above research conclusion,this is inseparable from the more concentrated equity structure of Fuyao Group itself.So the author suggests that the government should take the initiative to promote enterprises into donations,listed companies should also pay attention to strategic charity,rational donation,do not excessively blindly follow the performance of social responsibility,for enterprise value to pay attention to the structure of equity distribution,so as to better on the basis of corporate governance,as far as possible to safeguard the rights and interests of vested stakeholders.