Cheng, Wenli; Qin, Zhong; Huang, Minghuan - Department of Econometrics and Business Statistics, … - 2014
Based on panel data of 1891 Chinese listed companies over the period 2008-2013, we find a positive correlation between the companies’ philanthropic giving and their ability to obtain bank loans in the subsequent year. This result suggests that corporate philanthropy can be usefully seen as an...