Promoting and inhibiting: Corporate charitable donations and innovation investment under different motivation orientations--Evidence from Chinese listed companies.

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-

SUBMITTER: Wang H 

PROVIDER: S-EPMC9007372 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature