Corporate philanthropy and employee wellbeing: do types of corporate philanthropy matter?

Chih-Hai Yang ()
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Chih-Hai Yang: National Central University

Eurasian Business Review, 2022, vol. 12, issue 4, No 7, 803-828

Abstract: Abstract This study examines whether corporate philanthropy, one corporate social responsibility (CSR) activity, influences employee wellbeing. Based on a panel dataset of listed companies in Taiwan, our empirical analyses obtained by using a panel data model show that engagement and charitable donations are irrelevant to employee wage packages. Dividing donation expenditures into donations to firm-related foundations and donations to unrelated recipients, donations to firm-related foundations have no influence on wage packages. By contrast, irregular and unscheduled donations, namely, donations to unrelated recipients, have a negative association with employee wage packages. The results remain the same using propensity score matching (PSM) and system generalized method of moments to conduct robustness checks. The first-stage PSM estimations on the determinants of corporate philanthropy indicate that firm characteristics such as firm size, firm age, earning performance, and stakeholders are factors influencing charitable donations.

Keywords: Corporate philanthropy; Employee wellbeing; Charitable donations; Tax avoidance (search for similar items in EconPapers)
JEL-codes: D22 D64 J31 J33 J53 M21 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s40821-022-00211-6

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