关键词: 地方财政压力,企业捐赠行为,地方政府,国有产权,政治关联

Abstract: By introducing the reciprocal effect between the characteristics of local government’s financial pressure, the government-business relationship and the characteristics of financial pressure into the model of corporate philanthropic activities, this paper interprets the political factors underlining the corporate philanthropic activities from the perspective of the characteristics of local government’s financial pressure. The results show that in the regions where the local governments bear greater financial pressures (i.e. the degree of effort for collection is high while the level of public expenditure is low), the corporate philanthropic behaviors are more active. The state ownership can weaken the impact of local governments’ financial pressure on corporate donations. The political connection will make the enterprises more sensitive to the local governments’ financial pressure. Therefore, it is necessary to strengthen the independence of the public welfare organizations and to guide the individual’s donation, so as to reduce the degree of dependence of the local governments and the whole society on the corporate donation.

Key words: local financial pressure; corporate philanthropic activities; local government; state ownership; political connection