诉讼风险与公司慈善捐赠——基于“声誉保险”视角的解释

发布时间：2018-02-19 18:12

本文关键词： 诉讼风险公司慈善捐赠声誉保险　出处：《南开管理评论》2017年02期 　论文类型：期刊论文

【摘要】：本文以2008-2013年沪深A股上市公司为样本,选取诉讼风险这一外部不确定性因素,研究了诉讼风险对公司慈善捐赠活动的影响,并在此基础上进一步探讨了制度环境、信息环境对于该影响的调节效应。研究发现:(1)我国上市公司面临的诉讼风险能够显著提高慈善捐赠水平,前期的败诉经历对提高公司本期慈善捐赠水平的作用更明显,异地诉讼风险对提高公司本期慈善捐赠水平的作用更明显;(2)这种影响在市场化程度高、法制环境差、司法透明度低的制度环境下更明显;(3)这种影响在分析师预测人数多、盈余管理水平低的信息环境下更明显。在对内生性、变量度量误差、公司固定效应等问题进行稳健性检验后,结果依然显著。本文基于我国制度背景,从公司的风险管理动机出发,验证了公司诉讼风险对于慈善捐赠的影响,从侧面反映了公司履行企业社会责任的"声誉保险"作用,并为此作用机制提供了经验证据;丰富了公司慈善捐赠动机的相关文献,将有助于加深社会公众和政府对公司慈善捐赠行为的理解和认识。
[Abstract]:Based on the sample of Shanghai and Shenzhen A-share listed companies from 2008 to 2013, this paper selects litigation risk as an external uncertainty factor, studies the impact of litigation risk on corporate charitable donation activities, and further discusses the institutional environment on this basis. The regulatory effect of information environment on this impact. The study found that the litigation risk faced by listed companies in China can significantly improve the level of charitable donation, and the previous experience of losing a lawsuit has a more obvious effect on improving the level of charitable donation in the current period of the company. The effect of the risk of foreign litigation on raising the level of charitable donation of the company in the current period is more obvious. (2) this impact is more obvious in the institutional environment of high degree of marketization, poor legal environment, and low judicial transparency.) this impact is expected by analysts to have a large number of people. It is more obvious in the low level information environment of earnings management. After the robustness test of endogenous, variable measurement error, firm fixed effect and so on, the results are still significant. Based on the motivation of corporate risk management, this paper verifies the influence of corporate litigation risk on charitable donation, reflects the role of corporate reputation insurance in fulfilling corporate social responsibility, and provides empirical evidence for this mechanism. It enriches the relevant documents of corporate charitable donation motivation and will help the public and the government to understand and understand the corporate charitable donation behavior.
【作者单位】：杭州电子科技大学会计学院;西南财经大学会计学院;
【基金】：国家自然科学基金项目(71302184) 教育部人文社会科学研究基金项目(13YJC790054)资助
【分类号】：D632.9;F832.51;F270

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