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Promoting and inhibiting: Corporate charitable donations and innovation investment under different motivation orientations——Evidence from Chinese listed companies.
- Source :
- PLoS ONE; 4/13/2022, Vol. 17 Issue 4, p1-23, 23p
- Publication Year :
- 2022
-
Abstract
- Corporate charitable donations under different motivations will have different effects on innovation investment through different action paths, which provides a new perspective to solve the inconsistency of existing research results. Based on the resource-dependent and principal-agent theories, this paper compares and discusses the relationship between charitable donations and innovation investment under different motivations. Using 2008 ~2019 relevant data of listed companies as research samples, a mixed regression model is established for the hypothesis test, and further examines the state-ownership of its moderating role. The results show that the altruistic motivation-oriented corporate donations have a significant inverted u-shaped effect on innovation investment. The tool motivation-oriented corporate donations have a significant U-shaped effect on innovation investment. Moreover, it is further found that for ST (Special Treatment) corporates with the risk of delisting in the tool motivation-oriented charitable donations type, the corporate charitable donations have a significant negative effect on innovation investment. State-ownership can enhance the inverted U-shaped relationship between altruistic motivation-oriented corporate donations and innovation investment but weaken the U-shaped relationship between tool motivation-oriented corporate donations and innovation investment. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 19326203
- Volume :
- 17
- Issue :
- 4
- Database :
- Complementary Index
- Journal :
- PLoS ONE
- Publication Type :
- Academic Journal
- Accession number :
- 156291122
- Full Text :
- https://doi.org/10.1371/journal.pone.0266199