期刊
JOURNAL OF BUSINESS RESEARCH
卷 131, 期 -, 页码 839-850出版社
ELSEVIER SCIENCE INC
DOI: 10.1016/j.jbusres.2020.10.040
关键词
Advertising expenses; Charitable donations; Environmental misconduct; Political connections
类别
资金
- Major project of Zhejiang Provincial Philosophy and Social Sciences Research [20YSXK02ZD]
- Supporting Program for Zhejiang Provincial Zhi-jiang Young Scholars of Social Sciences [G241]
- National Social Science Fund of China [17ZD088, 20VYJ073]
- Basic Scientific Research Expenses Projects of Zhejiang University of Technology [GB201903002]
The study identifies two typical donation strategies, fire-suppressing and proactive, used by small Chinese companies to address the negative impact of environmental misconduct. Pollution fines are positively associated with corporate charitable donations, suggesting a fire-suppressing approach, while pollutant emissions have a positive relationship with charitable donations, supporting a proactive approach. The relationship between pollution fines and corporate charitable donations is moderated by advertising expenses, and politically connected SMEs are more likely to take a proactive approach.
In this study, we identify two typical donation strategies, i.e., the fire-suppressing approach and the proactive approach, for window-dressing environmental misconduct. For a sample of 2582 small Chinese companies, we find that pollution fines are positively associated with corporate charitable donations, implying that firms use charitable donations as a fire-suppressing method to address the negative impact of environmental misconduct. We also found a positive relationship between pollutant emissions and corporate charitable donations, which supports the hypothesis that firms use a proactive approach (i.e., more consistent charitable donations) to reduce the negative impact of environmental misconduct. The relationship between pollution fines and corporate charitable donations is positively moderated by advertising expenses, suggesting that small and medium-size enterprises (SMEs) with higher branding expenses are more likely to take a fire-suppressing approach. Politically connected SMEs are more likely to take a proactive approach whereas SMEs without political connections are more likely to take a fire-suppressing approach.
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