Charitable Donations, Political Connections and Top Executive Stock Ownership:Evidence from Chinese Listed Companies
- DOI
- 10.2991/iccese-17.2017.179How to use a DOI?
- Keywords
- charitable donations; political connections; top executive stock ownership; institutional environment
- Abstract
Based on resource dependence theory, principal-agent theory and institutional theory, a total of 893 samples from 2008 to 2014 were empirical analyzed, this paper studies the relationship between the intensity of charitable donation, political connections, institutional environment and the change of top executive stock ownership in China. Our results indicate that(1)Charitable donation is positively related to top executive stock ownership.(2)Charitable donations are positively correlated with top executive stock ownership in companies with political connections. However, in a companies without political connections, the relationship is not significant.(3)The degree of marketization has a significant positive moderating effect on the correlation between charitable donation and top executive stock ownership. However, in companies without political connections, the moderating effect of the degree of marketization on charitable donation and top executive stock ownership is not obvious.
- Copyright
- © 2017, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Ying Shu PY - 2017/05 DA - 2017/05 TI - Charitable Donations, Political Connections and Top Executive Stock Ownership:Evidence from Chinese Listed Companies BT - Proceedings of the 2017 International Conference on Culture, Education and Financial Development of Modern Society (ICCESE 2017) PB - Atlantis Press SP - 705 EP - 709 SN - 2352-5398 UR - https://doi.org/10.2991/iccese-17.2017.179 DO - 10.2991/iccese-17.2017.179 ID - Shu2017/05 ER -