儒家文化会让企业更慷慨吗？

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2025-06-01 DOI:10.1016/j.ribaf.2025.103025

Deyu Liu , Kefan Wang

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引用次数: 0

摘要

本研究从非正式制度框架考察儒家文化对企业慈善捐赠的影响。利用中国3472家上市公司11年的数据，实证分析发现，CC在降低代理成本和缓解融资约束的同时，也促进了CCD的发展，这是重要的内在机制。进一步分析表明，在金融和经济发展不充分的地区，CC对CCD的促进作用更为显著，CC与正式制度存在替代关系。此外，女性高管和具有海外背景的高管削弱了CC的积极作用，而具有金融和学术背景的高管则增强了CC对CCD的促进作用。本研究为弘扬传统文化提供了实证依据，也为如何激励企业社会责任提供了指导。

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Does Confucian culture make firms more generous?

This study examines whether Confucian culture (CC) influences corporate charitable donation (CCD) from an informal institutional framework. Using 11 years of data from 3472 Chinese listed companies, the empirical analyses find that CC promotes CCD while reducing agency costs and alleviating financing constraints, which serve as important intrinsic mechanisms. Further analyses show that CC promotes CCD more significantly in regions with inadequate financial and economic development and that CC and formal institutions have a substitution relationship. In addition, female executives and executives with overseas backgrounds weaken the positive effects of CC, whereas executives with financial and academic backgrounds enhance the promotional effects of CC on CCD. This study provides empirical evidence for promoting traditional culture and offers guidance on how to encourage corporate social responsibility.

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来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

期刊介绍： Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance