报告题目：Institutional Ownership and Corporate Philanthropic Giving in Emerging Economies

报告人：宋渊洋（必发9988集团工商管理系教师）

报告时间：12月20日（星期五）上午9:00-11:00

报告地点：三教102室

组织部门：组织管理研究所

主持人：阎海峰教授

内容摘要：This article investigates the effect of institutional ownership on corporate philanthropic giving in an emerging economy. Drawing upon the theory of stakeholder identification and salience, we argue that institutional investors has strong incentive and capability to influence corporate philanthropic giving decisions, and this influence is moderated by firm ownership structure. With data on 1412 Chinese publicly listed firms between 2003 and 2008, the results of this study support this argument. After controlling for alternative explanations and the potential problem of endogeneity, the results show that institutional ownership has a positive effect on corporate philanthropic giving, and this effect is stronger in firms with low ownership concentration, and stronger in private firms than in state-owned firms. This article not only sheds light on the role of institutional investors in corporate philanthropic giving, but also generates policy implications for policy makers in emerging economies.

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