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Institutional cross-ownership and corporate philanthropy

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  • Fu, Yishu
  • Qin, Zhenjiang

Abstract

Using a sample of Chinese listed firms from 2006 to 2018, we find that institutional cross-ownership in the same industry increases corporate philanthropic giving. Our findings imply that strengthened governance and greater peer pressure from a common ownership increase politically motivated corporate philanthropy in China. Besides, this positive association is weaker for firms with better political connections, but stronger for firms with greater visibility.

Suggested Citation

  • Fu, Yishu & Qin, Zhenjiang, 2021. "Institutional cross-ownership and corporate philanthropy," Finance Research Letters, Elsevier, vol. 43(C).
    • Handle: RePEc:eee:finlet:v:43:y:2021:i:c:s1544612321000775
    DOI: 10.1016/j.frl.2021.101996
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    References listed on IDEAS

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    Cited by:

    1. Wang, Kun Tracy & Sun, Aonan, 2022. "Institutional ownership stability and corporate social performance," Finance Research Letters, Elsevier, vol. 47(PA).
    2. Ding Ning & Irfan-Ullah & Muhammad Ansar Majeed & Aurang Zeb, 2022. "Board diversity and financial statement comparability: evidence from China," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 12(4), pages 743-801, December.
    3. Wang, Tracy & Sun, Aonan, 2022. "Institutional ownership stability and corporate social performance," MPRA Paper 112679, University Library of Munich, Germany.
    4. Samreen Hamid & Asif Saeed & Umar Farooq & Faisal Alnori, 2022. "A Bibliometric Retrospection of CSR from the Lens of Finance and Economics: Towards Sustainable Development," Sustainability, MDPI, vol. 14(24), pages 1-25, December.

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    More about this item

    Keywords

    Corporate philanthropy; Institutional cross-ownership; China;
    All these keywords.

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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