Institutional Ownership and Corporate Philanthropic Giving in an Emerging Economy

• DOI: 10.1017/mor.2015.33
• Publication Date: 2016-06-26T01:17:15Z
• Authors: Yuanyang Song; Peter T. Gianiodis; Yuanxu Li
• Keywords: Salience (neuroscience); Foreign ownership; Institutional Change

ABSTRACT In this study, we examine the effect of institutional ownership on corporate philanthropy in China, an emerging economy. Employing stakeholder identification and salience theory, posit that positively influences philanthropy, which varies for different types investors. We further argue ownership's influence is stronger when aligned with firm goals. Using data from Chinese publicly listed firms, find a positive domestic owners compared to foreign owners, long-term short-term owners. also private firms regions low development – situations characterizing high alignment between Our findings highlight important role investors decisions, have implications scholars studying policy makers enacting governance economies.