Board attributes and corporate philanthropy behavior during COVID-19: A case from China

Abstract

This study examines the relationship between board attributes and corporate philanthropic behavior for combating the COVID-19 epidemic and stock price fluctuations The results show that the philanthropic behavior has a positive effect on the stock prices; that companies with female leaders are more likely to engage in philanthropic behavior; and that the proportion of female's directors is positively correlated with philanthropic behavior. Additionally, the results show that board size is negatively correlated with philanthropic behavior.