Regional cultural diversity and corporate philanthropy: evidence from Chinese dialects

Jie Wang, Wanwan Wang and Qinghe Yang

Asia-Pacific Journal of Accounting & Economics, 2023, vol. 30, issue 3, 690-706

Abstract: This study investigates the impact of regional cultural diversity on corporate philanthropy. We find that regional cultural diversity is negatively associated with corporate philanthropy. The mechanism analyses show that relationship between regional cultural diversity and corporate philanthropy is more pronounced in firms with lower CEO empathy and media coverage, indicating that regional cultural diversity reduces corporate philanthropy by affecting altruistic motive and reputational motive of firms. In addition, the relationship between regional cultural diversity and corporate philanthropy is more pronounced in regions with lower social trust.

Date: 2023
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DOI: 10.1080/16081625.2021.2012702

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Asia-Pacific Journal of Accounting & Economics is currently edited by Yin-Wong Cheung, Hong Hwang, Jeong-Bon Kim, Shu-Hsing Li and Suresh Radhakrishnan

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