气候风险与企业慈善捐赠——来自中国的证据

IF 5.6 2区经济学 Q1 BUSINESS, FINANCE

International Review of Economics & Finance Pub Date : 2025-02-10 DOI:10.1016/j.iref.2025.103947

Yan Mo , Huifeng Jiang , Cong Chong

{"title":"气候风险与企业慈善捐赠——来自中国的证据","authors":"Yan Mo , Huifeng Jiang , Cong Chong","doi":"10.1016/j.iref.2025.103947","DOIUrl":null,"url":null,"abstract":"<div><div>This study examines whether climate risk affects corporate charitable donations. Using a sample of Chinese A-share listed companies from to 2010–2022, we find that day-to-day temperature volatility will significantly reduce corporate charitable donations. These conclusions hold after several robustness tests. The mechanism test proves that climate risk reduces charitable donations by increasing corporate financial constraints. Further analysis reveals that the negative relationship between climate risk and corporate charitable donations is more significant among non-state-owned firms, firms that are not politically connected, and firms that receive fewer government subsidies.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"98 ","pages":"Article 103947"},"PeriodicalIF":5.6000,"publicationDate":"2025-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Climate risk and corporate charitable donations –evidence from China\",\"authors\":\"Yan Mo , Huifeng Jiang , Cong Chong\",\"doi\":\"10.1016/j.iref.2025.103947\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>This study examines whether climate risk affects corporate charitable donations. Using a sample of Chinese A-share listed companies from to 2010–2022, we find that day-to-day temperature volatility will significantly reduce corporate charitable donations. These conclusions hold after several robustness tests. The mechanism test proves that climate risk reduces charitable donations by increasing corporate financial constraints. Further analysis reveals that the negative relationship between climate risk and corporate charitable donations is more significant among non-state-owned firms, firms that are not politically connected, and firms that receive fewer government subsidies.</div></div>\",\"PeriodicalId\":14444,\"journal\":{\"name\":\"International Review of Economics & Finance\",\"volume\":\"98 \",\"pages\":\"Article 103947\"},\"PeriodicalIF\":5.6000,\"publicationDate\":\"2025-02-10\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Economics & Finance\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1059056025001108\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Economics & Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1059056025001108","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 0

摘要

本研究探讨气候风险是否影响企业慈善捐赠。以2010-2022年中国a股上市公司为样本，我们发现逐日温度波动会显著降低企业慈善捐赠。经过多次稳健性检验，这些结论成立。机制检验证明，气候风险通过增加企业财务约束来减少慈善捐赠。进一步分析发现，气候风险与企业慈善捐赠之间的负相关关系在非国有企业、没有政治关联的企业和获得政府补贴较少的企业中更为显著。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Climate risk and corporate charitable donations –evidence from China

This study examines whether climate risk affects corporate charitable donations. Using a sample of Chinese A-share listed companies from to 2010–2022, we find that day-to-day temperature volatility will significantly reduce corporate charitable donations. These conclusions hold after several robustness tests. The mechanism test proves that climate risk reduces charitable donations by increasing corporate financial constraints. Further analysis reveals that the negative relationship between climate risk and corporate charitable donations is more significant among non-state-owned firms, firms that are not politically connected, and firms that receive fewer government subsidies.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

International Review of Economics & Finance Multiple-

CiteScore

7.30

自引率

2.20%

发文量

253

期刊介绍： The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.