Founder Control, Charitable Donations and Corporate Performance-Take Gem Listed Companies as an Example

Since the reform and opening up, China’s rapid economic development has also brought about the problem of too large the gap between the rich and the poor. Under the positive effect of emphasizing the third distribution, charity has gradually come into people’s vision. The society is full of various ways of charity. For enterprises, charitable donation is an important way for enterprises to fulfill their social responsibilities, so it is necessary to study the reasons for charitable donation by enterprises. The founders of an enterprise have a strong affection for the enterprise. They tend to have long-term plans for the enterprise and are familiar with the industry they are in. These factors can enable the founders to focus on the long-term development of the enterprise. They may increase corporate charitable donations, actively fulfill their corporate social responsibilities, win a good reputation for enterprises, and promote the improvement of corporate social performance. However, in the real environment, after going public, enterprises often face the problem of competing between investors and founders for control. In this process, the enterprises experience shocks, which will hinder their charitable donation and make the performance of enterprises unstable. This study organizes the relevant literature at home and abroad, connects with the actual situation of domestic enterprises, and starts from the relevant theories of founder control, explores the influence of founder control on corporate charitable donation and corporate performance, and verifies the adjustment mechanism of corporate charitable donation.