本文探討企業的多樣性(亦即董事會成員背景多樣性及營運多樣性)如何影響企業的慈善捐贈，並檢視企業的慈善捐贈對公司競爭優勢的影響。以中國上市A股2008-2011年的企業為研究樣本，採行兩階段最小平方法進行迴歸分析檢測。研究顯示當中國上市A股企業的營運多樣性計劃越完善時，企業的慈善捐贈支出亦呈正向顯著提高，此外，研究發現獨立董事比例和女性董事比例提高時，企業慈善捐贈會降低，而董事年齡增加時會正向影響企業的慈善捐贈支出，另外，企業的管理者若曾俱備政治背景之經歷將正向顯著影響企業慈善捐贈。再者，實證發現2008-2011年間中國上市A股企業當期的慈善捐贈支出增加會帶來企業的競爭優勢。本研究從資源依賴理論觀點探討在中國從事商業行為，或許進行慈善捐贈會是一種能提升企業形象創造無形資產進而產生後續經濟利益的一種有效路徑。 This paper attempts to explore the motivations behind philanthropic giving among listed firms in China and the mediating role of philanthropic giving in the relations that competitive advantage. The research data comprise panel data of A-share listed firms in China during 2008-2011. This paper investigates the impact of diversity on corporate philanthropy. Our empirical evidence shows that these firms’ philanthropic giving increased significantly with the increase of their operational diversity. However, The ratio of insiders to outsiders, and the proportion of female were found to be negative and significantly associated with firms'' philanthropic giving, director to be positive and significantly associated with firms'' philanthropic giving. Finally, our evidence during 2008-2011 also shows that increasing philanthropic giving in prior period could lead to a greater revenue growth in the next, confirming the mediating role of philanthropic giving. In China, philanthropic giving is probably an effective approach to improving corporate image or creating some intangible assets that generate economic benefits.
