Religious atmosphere, seismic impact, and corporate charitable donations in China

Ruixian Huang, Yujing Shi, Danyang Li, Shuoxiang Wang and Zhehao Jia

Energy Economics, 2024, vol. 131, issue C

Abstract: This study examines the external socio-cultural and natural environment factors that driving corporate philanthropy in China. We focus on two predominant influences: religiosity, specifically the traditional Three-Teachings (Confucianism, Buddhism, and Taoism), and seismic activities. Using a large sample of 31,673 firm-year observations from Chinese listed firms from 2009 to 2020, our findings reveal that (a) firms immersed in more pronounced religious-cultural presence have higher donation incentives, and (b) firms experiencing higher seismic impacts or are located in high seismic risk areas show heightened corporate philanthropic tendencies. Our multidisciplinary approach bridges various academic disciplines, presenting an innovative framework for understanding the intersection of corporate philanthropy, socio-cultural environments, and natural disasters in China. Overall, we highlight the importance of external environmental factors in shaping corporate charitable behaviours.

Keywords: Religious and cultural atmosphere; Informal institution; Seismic activity; Natural disaster; Corporate philanthropy (search for similar items in EconPapers)
JEL-codes: G39 G41 Q54 Z12 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:131:y:2024:i:c:s014098832400077x

DOI: 10.1016/j.eneco.2024.107369

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