【作者】 石磊；

【导师】 赵定涛； 魏玖长；

【作者基本信息】 中国科学技术大学 ， 管理科学与工程， 2010， 博士

【摘要】 作为灾难管理的一个重要环节,灾难救助在灾难事件发生前、发生时及发生后都起着重要作用。灾难状态下开展救助活动的主体包括政府、企业、非政府组织、公众、媒体、外国政府和公众,不同的主体由于在社会分工中所处的地位不同,其在灾难救助过程承担着不同的角色与职能,其共同构建了一个灾难救助网络体系。企业作为市场经济的主体,在技术、资金和资源上占有其他主体无法取代的优势,其在灾难救助中都起到重要作用。本论文通过研究构建了中国企业灾难捐赠的决策模型,分析识别了影响企业灾难捐赠的主要因素；并对企业灾难捐赠行为在股票市场、社会声誉方面的影响进行了分析评估;在此基础上,提出了企业为履行社会责任和提高捐赠效率应采取的捐赠策略。企业社会责任活动应当满足公众期望。基于汶川地震后沪深A股上市公司的捐赠信息分析研究了企业灾难捐赠的决策模型与影响因素,研究发现：(1)从上市公司选择捐赠的数额来看,它们偏好捐赠的数额有：中小型上市公司偏好捐赠150万人民币,大型上市公司偏好捐赠1050万人民币；(2)总资产、上市公司的网页数、公司领导的任职时间、是否为面向消费者的企业等对捐赠额有正向的影响；(3)更大规模的捐赠、较早的捐赠时间和更高的企业声誉能提高捐赠的信息扩散范围。国外的研究结论表明,企业在灾难救助中的积极表现能为企业带来显著的战略收益。然而,本论文基于市场反应模型分析评估了汶川地震后中国沪深257家A股上市公司的捐赠行为对股票价格的影响,从研究结果来看,上市公司的灾难捐赠行为并不能得到股票投资者的认可,即公司的灾难捐赠行为会对股票价格产生负面影响。为避免这种负面影响,一方面上市公司可把捐款额控制在1000万元以下,并在较迟时候发布捐赠公告；另一方面,上市公司应建立完善的灾难捐赠决策与沟通机制,积极向股票投资者沟通灾难捐赠对能够为公司发展带来战略收益,以获得他们的认可。捐助行为对于企业的发展而言,无论行为本身是单纯出自道德或责任,亦或是企业战略和公关营销,都会对企业的社会声誉产生直接影响。公众对企业的捐赠行为主要通过捐赠额、捐赠时间和捐赠形式三个方面进行感知。当企业的救助行为在这三个方面与公众期望有高匹配性时,公众则认同此捐赠行为,从而对企业的市场地位和声誉资本产生潜在的积极影响。大部分企业在灾难面前所表现出的社会责任感和慈善精神值得赞扬,但值得注意的是,灾难过后部分企业的不诚信捐赠引发了公众的关注和强烈不满。通过构建基于捐赠企业与政府间的博弈模型进行分析,发现随着惩罚力度逐渐加大,企业非诚信捐赠成功的概率越小。若政府加大惩罚力度可以从两方面着手,一是直接处罚,二是提高企业捐赠信息的透明度。由于企业捐赠的社会效应在所方面收到公众舆论的影响和约束,因此政府通过将企业捐赠信息公开化、透明化,让公众扮演监督者的角色能够有效的降低政府的监督成本,从而使企业非诚信捐赠的概率减小。更多还原

【Abstract】 As a key part of disaster management, disaster assistance plays an important part before, in and after the disaster event. Main parts that launch in assistance activities are government, enterprises, NGO, public, media, foreign government and foreign public. Different parts undertake individual role and function in the process of disaster assistance due to various status in social division, which constitute a network system of disaster assistance. Enterprises, as a main part in market economy, have advantage in technology, finances and resources which other parts are unable to substitute, so they militate a lot in disaster assistance. In this essay, we constitute a decision model of disaster assistance of Chinese enterprises. We identify main factors that influence disaster assistance by enterprises and evaluate the influence on stock market and social reputation brought by enterprises’ donations to disaster. On this base, we propose the strategy of donations of enterprises in undertaking social responsibilities and enhancing the efficiency of donations.In this study, I seek to examine the determinants of the corporate responses to Wenchuan Earthquake, and the effects of corporate donation based on 454 listed companies in response to Wenchuan Earthquake. The findings of this study are as followings:(1) of the preferred sizes of donation that these listed companies selected to donate, the middle and small listed companies preferred to donate 1.5 million RMB, and the large listed companies preferred 10.5 million RMB. (2) total asset, number of web pages related to company information, duration of employment, and public connection have positive effects on the size of donation. (3) Larger size of donation, earlier donation time, and higher corporate reputation can improve the effects of donation.Foreign researches show that positive activities of enterprises performing in disaster assistance can bring in significant strategic profit for themselves. While this article, based on market reaction model, evaluates 257 A-shared listed companies in Shanghai and Shenzhen stock market, of which the result shows that disaster assistance behavior done by the above listed companies does not gain accreditation of stock investors. That is to say, disaster assistance behavior of companies brings negative effects to stock prices. To avoid this unappreciated effect, the listed companies control the amount of donations at 10 million RMB, and release donation announcement in a later time, on the other hand, listed companies should build a consummate system of decision and communication in disaster donations, trying to gain their approval by communication to make them know that donations to disasters can bring strategic profit for companies.As to development of companies, donation behavior, no matter the motivation of donation behavior is out of pure morality or responsibilities, or company strategies and public relations marketing, donation behavior of companies have direct influence to social reputation of enterprises. Public perceive enterprise donations through amount of donations, time and form of donations. Public approve a certain behavior of donation when this behavior highly matches public expectation, which can bring in positive effects to market status and reputation capital of enterprises.It is worth of praise that most companies show social responsibility and philanthropy spirit. But one point needs to pay attention to, that is non-honest corporation donation after disasters arouses attention and strong dislike. Through constructing game relationship between enterprise and government, we find out that as we strengthen punishment force, the possibility that non-honest corporate donation is lower. Corporate donation is monitored by the public opinions. Government should make the information of corporate donation to be open and transparent. Public, which play the role of supervisor, can efficiently bring down the cost of government monitorship.更多还原