摘要
考察公益基金会对外投资活动对公益支出能力的影响,对外投资活动产生的收益增加了收入来源,有利于增加基金会的资本积累和持续发展,提高其公益支出能力。因此,预期基金会的对外投资活动能提高其公益支出能力。采用我国369家基金会2012-2015年的面板数据,研究表明,基金会的投资活动与公益支出能力显著负相关。研究结论补充和拓展了关于基金会对外投资的研究,也对基金会权衡对外投资利弊和政府制定相关制度有重要启示。
This paper examines the foundation’s investment activities for public welfare spending power,finding that the profit investment generates increases income and is instrumental in promoting capital accumulation and continuous development,thus improving its power of spending on public welfare.As a result,the foundation's foreign investment activities are expected to improve its public spending capacity.According to the panel data of369foundations of China from2012to2015,the research shows that the investment activities of the foundation are significantly negatively correlated with the capacity of public expenditure.The conclusion of this paper complements and expands the research on the foundation of investment,and also weighs the pros and cons of foreign investment and the government,providing important references for establishing relevant systems.
作者
周咏梅
张乐乐
王晓琳
ZHOU Yong-mei;ZHANG Le-le;WANG Xiao-lin(Business school, Qingdao University, Qingdao 266061, China)
出处
《东方论坛（青岛大学学报）》
2017年第6期106-113,共8页
Eastern Forum（JOURNAL OF QINGDAO UNIVERSITY）
基金
2016年山东省重大财经应用研究项目"政府投融资机制创新研究"(ZDCJ-2016-7)
山东省自然基金项目"非营利组织财务透明度研究"(ZR2013GM002)
关键词
公益基金会
对外投资
公益支出能力
foundation
investment
capacity of public welfare expenditure
作者简介
周咏梅(1968-),女,江苏扬州人,青岛大学商学院教授;张乐乐(1991-),女,山东济宁人,青岛大学商学院硕士研究生;王晓琳(1981-),女,山东潍坊人,青岛大学商学院讲师
