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本文以中国A股上市公司为样本,实证检验了高管团队薪酬与企业慈善捐赠的关系。研究发现:当企业高管团队薪酬较高时,企业会表现出更高的慈善捐赠水平。结果表明,慈善捐赠一方面会帮助企业获得更多的政治资源,从而取得经营所需的关键资源并迅速提升企业绩效;另一方面也会帮助高管团队个人构建社会资本,这样的利益一致性会促使高管团队更积极地从事慈善捐赠活动。由于高薪酬的高管团队会拥有更强的决策能力,因而他们更有能力去实施慈善活动。此外,这种显著的正向关系,在企业所处区域市场发展水平比较低、CEO两元性存在时表现的更强。本研究不仅拓展了高管团队薪酬对企业社会责任行为影响的研究,也丰富了企业慈善捐赠动机和影响因素的研究。
In this paper, a sample of Chinese A-share listed companies is used to test the relationship between executive compensation and corporate charitable donations. The study found that: When the corporate executive team pay higher, companies will show a higher level of charitable donations. The results show that on the one hand, charitable donations will help enterprises to obtain more political resources, so as to obtain the key resources needed for business operations and rapidly improve business performance; on the other hand, it will also help senior management team to build social capital for individuals. Such interests are consistent Will encourage senior management team to engage more actively in charity donation activities. As high-paying executives have stronger decision-making capabilities, they are more able to implement charitable activities. In addition, this significant positive relationship shows that the level of development in the regional markets where enterprises are located is relatively low, and the performance of CEO duality is stronger. This study not only expands the research on the impact of executive compensation on corporate social responsibility behaviors, but also enriches the research on the motivation and influencing factors of corporate philanthropy.