IDEAS home Printed from https://ideas.repec.org/a/mes/emfitr/v55y2019i10p2365-2387.html
   My bibliography  Save this article

Does Culture Matter for Corporate Philanthropic Giving?

Author

Listed:
  • Kiridaran Kanagaretnam
  • Zongfeng Xiu
  • Zejiang Zhou

Abstract

This article explores cultural influence on corporate philanthropic giving, employing the case of merchant guilds culture in China and it further investigates the moderating effect of the types of corporate ownership. Our evidence suggests that merchant guilds culture can facilitate the extent and likelihood of corporate philanthropic giving, which is in accordance with the intuition that merchant guilds culture, which is rooted in Confucianism culture of China, has generally been associated with altruism. Consistent with our second prediction, we find that the relationship between merchant guilds culture and corporate philanthropic giving is more pronounced for privately owned firms than state-owned firms. These results are robust to several sensitivity checks, including using alternate variables to proxy for merchant guilds culture and corporate charitable giving, controlling for media coverage, and checking for potential endogeneity issues. This article provides a new perspective on the domestic culture through an empirical model that responds to a strong concern placed on merchant guilds culture and corporate philanthropic giving.

Suggested Citation

  • Kiridaran Kanagaretnam & Zongfeng Xiu & Zejiang Zhou, 2019. "Does Culture Matter for Corporate Philanthropic Giving?," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(10), pages 2365-2387, August.
    • Handle: RePEc:mes:emfitr:v:55:y:2019:i:10:p:2365-2387
    DOI: 10.1080/1540496X.2018.1526077
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/1540496X.2018.1526077
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/1540496X.2018.1526077?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Xiu, Zongfeng & Liu, Ran & Yin, Jingwei, 2022. "Confucian merchants culture, social movement and entrepreneurs’ political participation: evidence from China," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 795-821.
    2. Xiu, Zongfeng & Liu, Ran & Feng, Pengshuo & Yin, Jingwei, 2023. "Does social culture matter for firms' access to trade credit? Evidence from China," Economic Modelling, Elsevier, vol. 119(C).
    3. Wang, Xiaoyu & Long, Zhineng & Zhao, Xiangfang, 2024. "Merchant guild culture and cash holdings: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 94(C).
    4. Jyun‐Ying Fu, 2023. "Customer concentration and corporate charitable donations: Evidence from China," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 545-561, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:emfitr:v:55:y:2019:i:10:p:2365-2387. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MREE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.