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| 論文名稱 | Corporate Philanthropy and Default Risk |
| 研討會開始日期 | 2016-06-11 |
| 研討會結束日期 | 2016-06-12 |
| 所有作者 | Li-Hsun Wang; Chu-Hsiung Lin; Erin H. Kao; Hung-Gay Fung |
| 作者順序 | 第一作者 |
| 通訊作者 | 是 |
| 研討會名稱 | The 24th Annual Conference onPacific Basin Finance, Economics,Accounting, and Management |
| 是否具有對外公開徵稿及審稿制度 | 是 |
| 研討會舉行之國家 | NATTWN-中華民國 |
| 研討會舉行之城市 | Hsinchu, Taiwan |
| 發表年份 | 2016 |
| 所屬計劃案 | 無 |
| 可公開文檔 |
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| 可公開文檔 | |
| 可公開文檔 |
[英文摘要] :
Our study examines the effect of charitable activities on default risk when firms set up philanthropic foundations. We show that charitable firms lower their default risk, which is proxied by value-at-risk and expected shortfall measures. Charitable firms are found to have higher credit ratings, engage less in earnings management, and have higher worker productivity, which all contribute to lower default risk.
