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

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

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.

Suggested Citation

  • Huang, Ruixian & Shi, Yujing & Li, Danyang & Wang, Shuoxiang & Jia, Zhehao, 2024. "Religious atmosphere, seismic impact, and corporate charitable donations in China," Energy Economics, Elsevier, vol. 131(C).
    • Handle: RePEc:eee:eneeco:v:131:y:2024:i:c:s014098832400077x
    DOI: 10.1016/j.eneco.2024.107369
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    More about this item

    Keywords

    Religious and cultural atmosphere; Informal institution; Seismic activity; Natural disaster; Corporate philanthropy;
    All these keywords.

    JEL classification:

    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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