Public welfare-oriented media promotion and corporate donations: Evidence from “Touching China”

Haiyan Li, Peiyan Yin and Yonghong Zhou

Journal of Economic Behavior & Organization, 2025, vol. 238, issue C

Abstract: Mass media play a broad role in raising public awareness. Using a staggered difference-in-differences approach, this study examines the impact of public welfare-oriented media promotion on corporate donations through a natural experiment of the Touching China program. We find that companies in cities where one of the People Who Moved China was born donate 23.9% more than others. The effect is more significant in companies that have gender-diverse boards, are state-owned, receive negative media coverage, and are in the growth stage, and deeds of philanthropy strengthen it. The heterogeneity implies three mechanisms: raising altruistic charitable awareness, maintaining government connections, and bolstering corporate reputation. This paper provides a new perspective on the link between media promotion and corporate social responsibility.

Keywords: Public welfare; Media promotion; Awareness; Donation; Charity (search for similar items in EconPapers)
JEL-codes: D22 L82 M14 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:238:y:2025:i:c:s0167268125003142

DOI: 10.1016/j.jebo.2025.107195

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