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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 [PLoS One] 2022 Apr 13; Vol. 17 (4), pp. e0266199. Date of Electronic Publication: 2022 Apr 13 (Print Publication: 2022). - 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.<br />Competing Interests: The authors have declared that no competing interests exist.
- Subjects :
- China
Creativity
Organizations
Investments
Motivation
Subjects
Details
- Language :
- English
- ISSN :
- 1932-6203
- Volume :
- 17
- Issue :
- 4
- Database :
- MEDLINE
- Journal :
- PloS one
- Publication Type :
- Academic Journal
- Accession number :
- 35417498
- Full Text :
- https://doi.org/10.1371/journal.pone.0266199