Abstract
This study examines the profound influence of familism on the philanthropic behaviours of family businesses (FBs) in China, utilising data from A-share listed FBs from 2012 to 2020. Familism, a core cultural ethos in China, not only shapes family dynamics but significantly impacts broader socio-economic activities, including corporate philanthropy. Our findings reveal that the intensity of familism within FBs correlates positively with their philanthropic donations. This relationship suggests that FBs embed familial values deeply within their corporate strategies, thus enhancing their social reputation and contributing to societal welfare. Importantly, this study enriches the literature in the field of culture and corporate finance by illustrating how familism transcends internal business practices to influence community-oriented activities, broadening the understanding of how cultural values shape corporate philanthropy globally.
Published Version
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