Institutional cross-ownership and corporate philanthropy

Yishu Fu and Zhenjiang Qin

Finance Research Letters, 2021, vol. 43, issue C

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.

Keywords: Corporate philanthropy; Institutional cross-ownership; China (search for similar items in EconPapers)
JEL-codes: C2 G2 G3 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:43:y:2021:i:c:s1544612321000775

DOI: 10.1016/j.frl.2021.101996

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