Chinese Management Studies· 2026Q2
Effects of air pollution on corporate charitable donations: evidence from China
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- Q2SCImago
- 2026year
Short summary
Increased air pollution leads to a reduction in corporate charitable donations in China, according to a study using stock market and air quality data.
AI-generated from the title and abstract; the full text is not read.
Key points
- Higher air pollution levels correlate with reduced corporate charitable donations in China.
- The study utilized instrumental variable and regression discontinuity designs for robust analysis.
- State-owned enterprises and firms in high-polluting industries are more affected by air pollution.
- Results remain robust after addressing potential data manipulation and excluding major cities.
AI-generated from the title and abstract; the full text is not read.
Abstract
Air pollution, which is viewed as one of the global environmental challenges, not only brings huge health costs, but also worsens firm performance. An increasing number of studies have recognized that air pollution has important implications for firm behaviors. However, little research focuses on how air pollution influences corporate charitable donation, which is a key behavior for firms to improve reputation and market valuation. In this paper, we combine the listed data from China Stock Market and Accounting Research Database and city-level air pollution data in China to investigate the impact of air pollution on corporate charitable donation. Using the instrumental variable method and regression discontinuity design, we find that an increase in air pollution would lead to a reduction in corporate charitable donations. Our results are robust to various specifications that consider potential air pollution data manipulation, alternative measures, and exclusion of first-tier cities. We further conduct the heterogeneity analyses and find that state-owned enterprises and firms in highly polluting industries are more sensitive to the change of air pollution.
The authors' abstract, as published at the source. Chinese Management Studies, 2026 · DOI ↗
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Field: Strategy and Management
Strategy and ManagementBusiness, Management and Accounting