Institutional cross-ownership and corporate philanthropy

被引：18
作者：
Fu, Yishu [1 ]
Qin, Zhenjiang [2 ]
机构：
[1] Southwestern Univ Finance & Econ, Inst Chinese Financial Studies, Chengdu, Peoples R China
[2] Univ Macau, Fac Business Adm, Macau, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2021年 / 43卷
关键词：
Corporate philanthropy; Institutional cross-ownership; China; PRICE;
D O I：
10.1016/j.frl.2021.101996
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using a sample of Chinese listed firms from 2006 to 2018, we find that institutional cross ownership in the same industry increases corporate philanthropic giving. Our findings imply that strengthened governance and greater peer pressure from a common ownership increase politically motivated corporate philanthropy in China. Besides, this positive association is weaker for firms with better political connections, but stronger for firms with greater visibility.
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页数：8
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