股权结构与企业公益性捐赠的实证分析

发布时间：2019-05-17 08:21

【摘要】：文章以2008—2013年财务报表中披露企业公益性捐赠支出的且上市时间在2008之后的上市企业为研究对象,实证分析企业股权结构与企业公益性捐赠之间的影响效应。结果发现,私营企业股权的过度集中对企业的公益性捐赠有显著的抑制作用,而在国有企业中则表现为微弱的促进作用。股权制衡对企业公益性捐赠同样具有所有权性质的差异性,在私营企业中表现为正向促进作用,在国有企业中影响效应则不确定。另外,股权制衡可以通过抑制企业的股权过度集中来弱化股权集中对企业公益性捐赠的降低效应。
[Abstract]:This paper takes the listed enterprises whose public welfare donation expenditure is disclosed in the financial statements from 2008 to 2013 and whose listing time is after 2008 as the research object, and empirically analyzes the influence effect between the ownership structure of the enterprise and the public welfare donation of the enterprise. The results show that the excessive concentration of equity in private enterprises has a significant inhibitory effect on the public welfare donation of enterprises, but has a weak promoting effect in state-owned enterprises. Equity checks and balances also have the difference of ownership nature to the public welfare donation of enterprises, which shows a positive promoting effect in the private enterprises, while the influence effect in the state-owned enterprises is uncertain. In addition, equity checks and balances can weaken the reduction effect of equity concentration on public welfare donations by inhibiting the excessive concentration of equity in enterprises.
【作者单位】：武汉大学经济与管理学院;
【分类号】：F271;F275

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