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Digital transformation and corporate donations from the perspective of legitimacy management

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  • Mai, Ruidong

Abstract

Motivated by legitimacy management framework, we use China’s listed companies to test the relationship between digital transformation and corporate donations. Results show that digital transformation can promote corporate donations and contribute to realizing distribution equity. Findings remain robust after the robustness and endogeneity tests. The mechanism includes improvements to external attention, operational efficiency, and information quality. Heterogeneity analysis reveals that this effect is more pronounced in state-owned enterprises and those with a high institutional investor ownership. The results not only help deepen our understanding of the consequences of digital transformation but also contribute to reducing poverty and inequity.

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  • Mai, Ruidong, 2025. "Digital transformation and corporate donations from the perspective of legitimacy management," Research in International Business and Finance, Elsevier, vol. 73(PB).
    • Handle: RePEc:eee:riibaf:v:73:y:2025:i:pb:s0275531924004410
    DOI: 10.1016/j.ribaf.2024.102648
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    More about this item

    Keywords

    Digital transformation; Corporate donations; Legitimacy management; Corporate governance;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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