The DOI matches its Crossref record; 9 of the 9 references it cites were found in a registry or an index.
Corporate Philanthropy and Corporate Financial Performance: The Roles of Stakeholder Response and Political Access
Abstract
Corporate philanthropy is expected to positively affect firm financial performance because it helps firms gain sociopolitical legitimacy, which enables them to elicit positive stakeholder responses and to gain political access. The positive philanthropy-performance relationship is stronger for firms with greater public visibility and for those with better past performance, as philanthropy by these firms gains more positive stakeholder responses. Firms that are not government-owned or politically well connected were shown to benefit more from philanthropy, as gaining political resources is more critical for such firms. Empirical analyses using data on Chinese firms listed on stock exchanges from 2001 to 2006 support these arguments.
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Cites
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“On the other hand, other scholars have argued that corporate philanthropy has a negative net impact on corporate financial performance because it may represent a pure corporate expenditure that diverts valuable resources to areas unrelated to operations (Friedman, 1970).”
BackgroundInfluentialCorporate Social and Financial Performance: A Meta-Analysis
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Cited by
Corporate Social Responsibility Reporting in China: Symbol or Substance?
Marquis, C., & Qian, C. (2014) · Organization Science · doi:10.1287/orsc.2013.0837 · Cited by 1,793
Self-citationESG: Research Progress and Future Prospects
Li, T.-T., Wang, K., Sueyoshi, T., & Wang, D. D. (2021) · Sustainability · doi:10.3390/su132111663 · Cited by 779
Doing Well by Making Well: The Impact of Corporate Wellness Programs on Employee Productivity
Gubler, T., Larkin, I., & Pierce, L. (2018) · Management Science · doi:10.1287/mnsc.2017.2883 · Cited by 222
Integration of non‐market and market activities in cross‐border mergers and acquisitions
Ahammad, M. F., Tarba, S. Y., Frynas, J. G., & Scola, A. (2017) · British Journal of Management · doi:10.1111/1467-8551.12228 · Cited by 64
Abdelfattah, E., Malik, M., & Muhammad Ishraque Osman, S. (2025) · IEEE Access · doi:10.1109/access.2025.3579712 · Cited by 8
Metadata
- Authors
- Wang, H., & Qian, C.
- Venue
- Academy of Management Journal
- Publisher
- Academy of Management
- Published
- 2011-12
- Volume
- 54
- Issue
- 6
- Pages
- 1159-1181
- ISSN
- 0001-4273 (ISSN-L)
- 1948-0989
- OpenAlex
- W2041499464
- Cited by
- 1,292
- References
- 9
- FWCI
- 76.36
- Type
- journal article
- Language
- en
- Open access
- closed
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