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Geographical influences on the relationship between corporate philanthropy and corporate financial performance

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  • Jane Lu
  • Xueji Liang
  • Heli Wang

Abstract

Building on stakeholder theory, the paper argues that geographical differences in stakeholders’ reactions to corporate philanthropy lead to differences in the relationship between corporate philanthropy and corporate financial performance across regions. When comparing the United States and China and different regions within China, it is found that the differences in stakeholder perceptions (as reflected by sinful industry) and information availability (as indicated by advertising intensity) across regions significantly moderate the corporate philanthropy–corporate financial performance relationship. The findings show that the value of corporate philanthropy varies by region and that stakeholder perception and information availability are two important mechanisms through which corporate philanthropy influences corporate financial performance.

Suggested Citation

  • Jane Lu & Xueji Liang & Heli Wang, 2020. "Geographical influences on the relationship between corporate philanthropy and corporate financial performance," Regional Studies, Taylor & Francis Journals, vol. 54(5), pages 660-676, May.
    • Handle: RePEc:taf:regstd:v:54:y:2020:i:5:p:660-676
    DOI: 10.1080/00343404.2019.1668551
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    Cited by:

    1. Zhi Su & Bo Yi & Linan Wang, 2022. "Is corporate philanthropy a pretext for executives' excess perk consumption? Evidence from China," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 4010-4027, December.

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