慈善捐赠、品牌资产与企业绩效的关系——来自中国上市公司的数据

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Abstract On the basis of the data of listed companies in China from 2006 to 2014,this paper empirically analyzes the impact of corporate philanthropy on corporate performances and the role of brand equity in philanthropy-performance relationship.Empirical results indicate that corporates that donate too little or too much performs better than corporates that donate a common scale level.Consequently,corporate philanthropy and performance present a U-type relationship.And when the scale of corporate philanthropy is below the ideal critical point(1.296% of corporate operating revenue)for the current sample,the negative effect of corporate philanthropy on performance is much stronger for corporate with higher brand equity.Therefore,managers should carefully decide the scale of philanthropy based on the corporate brand equity to avoid the stakeholders mistaken “charity” for “hypocritical” and to conductively enhance corporate performance.

Key words： Corporate philanthropy Brand equity Corporate performance

Received: 02 August 2017

PACS:

F274

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	Guo Guoqing
	Chen Fengchao
	Gu Leilei

Cite this article:

Guo Guoqing,Chen Fengchao,Gu Leilei. Corporate Philanthropy,Brand Equity and Corporate Performance: An Analysis based on Data of China's Listed Companies[J]. , 2018, 0(3): 100-106.

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http://www.zgkjlt.org.cn/EN/ OR http://www.zgkjlt.org.cn/EN/Y2018/V0/I3/100

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