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Regional culture, top executive values, and corporate donation behaviors

Author

Listed:
  • Gu, Yuandong
  • Zhang, Hong
  • Zhou, Wenli
  • Zhong, Weiguo

Abstract

This study linked top executives' values to firm charitable donation behaviors. Based on a unique database which combined native place of chairmen of listed companies in China and provincial level regional culture data in China, we find that: firms with chairmen from provinces with stronger humane orientation and collectivism orientation will be more likely to donate, and the donation amount will be greater; while firms with chairmen from provinces with stronger assertiveness will be less likely to donate and the donation amount will be less. Further analysis indicates that top executives' hometown identity, which is the consistency between the chairman's native place and the listed company's registration place will significantly moderate the relationship between top executives' values and firm donation. The higher hometown identity of top executives, the positive correlations between collectivism and firm donation will be stronger, while the negative correlation between assertiveness and firm donation will be weaker. This paper has implications for upper echelons theory, research on top managers' value and firm social responsibility research.

Suggested Citation

  • Gu, Yuandong & Zhang, Hong & Zhou, Wenli & Zhong, Weiguo, 2019. "Regional culture, top executive values, and corporate donation behaviors," Technological Forecasting and Social Change, Elsevier, vol. 140(C), pages 1-13.
    • Handle: RePEc:eee:tefoso:v:140:y:2019:i:c:p:1-13
    DOI: 10.1016/j.techfore.2018.11.024
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    2. Cao, Yuqiang & Liu, Yunxin & Lu, Meiting & Shan, Yaowen & Zu, Yanglan, 2025. "Generosity under environmental pressure: Climate change exposure and corporate philanthropy," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    3. Shuangyan Li & Anum Shahzadi & Mingbo Zheng & Chun-Ping Chang, 2022. "The impacts of executives’ political connections on interactions between firm’s mergers, acquisitions, and performance," Economic Change and Restructuring, Springer, vol. 55(2), pages 653-679, May.
    4. Weiyu Zhang & Xinyue Li & Shaowei Liu & Jong-wook Kwon, 2023. "The Chairman’s Rural Origin and Short-Term Expenditures in China," Sustainability, MDPI, vol. 15(18), pages 1-20, September.
    5. Chen, Xuchang & Wu, Changqi, 2023. "Subnational social trust and the internationalization of emerging market firms," Journal of Business Research, Elsevier, vol. 158(C).
    6. Liu, Deyu & Wang, Kefan, 2025. "Does Confucian culture make firms more generous?," Research in International Business and Finance, Elsevier, vol. 78(C).
    7. Baudier, Patricia & Kondrateva, Galina & Ammi, Chantal, 2023. "Can blockchain enhance motivation to donate: The moderating impact of religion on donors' behavior in the USA's charity organizations," Technological Forecasting and Social Change, Elsevier, vol. 191(C).

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