关键词: 企业慈善捐赠,既有任期,预期任期,分析师关注度

Abstract: Based on the upper echelons theory and the principal-agent theory, this paper takes the data of China’s A-share listed manufacturing companies from 2009 to 2016 as the research samples to theoretically analyze and empirically examine the impact of CEO existing tenure and CEO expected tenure on corporate charitable donations, as well as the mediating role of the attention to the analysts in the above relationship. The results show that there is an inverted U-shaped relationship between CEO existing tenure and corporate charitable donation, while the relationship between CEO expected tenure and corporate charitable donation presents a positive correlation. Further analysis shows that the attention to the analysts has weakened the relationship between CEO tenure and corporate charitable donation. The conclusions of the above study has certain enlightenment significance in understanding more about the corporate charitable donations, improving corporate governance mechanism and enhancing human resources management.

Key words: corporate charitable donation; existing tenure; expected tenure; attention to analysts