Does Multimarket Contact Dampen Corporate Philanthropy? A Study on the Geographic Allocation of Corporate Philanthropy
研究多市场接触如何影响企业在不同地理市场的慈善活动，发现企业在高多市场接触的市场中更少开展慈善，且市场集中度高或制度距离低时抑制作用更强。
While previous studies have discussed how much should be given by firms, less is known about how firms would spend these investments, such as strategically allocating these philanthropy activities across geographic markets. This study examines the impact of multimarket contact on corporate philanthropy in different geographic markets. Using Chinese property insurance firms from 2007 to 2015 as samples, the results show that firms are less likely to initiate philanthropy activities in geographic markets with high multimarket contact. We also found that the negative impact of multimarket competition on corporate philanthropy is stronger in highly concentrated markets. Moreover, this negative relationship is stronger when institutional distance at a firm level is low. Our study contributes to the literature on corporate philanthropy and multimarket contact.