This study examines the relationship between corporate philanthropy (CP) and audit fees. Using corporate donation data from China, our investigation finds that CP is significantly positively associated with audit fees. Resource-seeking purpose and the enhanced publicity effect may be plausible channels behind this relationship. We further find that the frequency and intensity of donations reinforce this positive association. Additional analysis reveals that the resource-seeking effect exists in any type of enterprise, while the enhanced publicity effect only exists in non-SOEs. Our (...) main results remain robust to a battery of additional tests. Overall, our findings suggest that by increasing audit workload and prospective audit risk, CP could make auditors more conservative such that they charge a higher audit fee. This article emphasizes the dialectic institutional stakeholder perspective in understanding the economic consequences of CP. Both the theoretical contributions and practical implications of these findings are discussed. (shrink)

The COVID-19 pandemic has plunged the housing affordability and living sanitary conditions of China's low-income groups into a crisis. Public rental housing has made a significant contribution to alleviating this crisis, yet its exit problem has become more acute due to the impact of the epidemic. In order to explore how to effectively play the role of multi-governance in public rental housing exit, this paper adopts game theory to analyze the evolution of the behavioral strategies of government departments and public (...) rental housing tenants in public rental housing exit by combining four influencing parameters: the epidemic severity, the epidemic influence coefficient, the public participation degree, and the public reporting fairness. In response to exploring the conditions for the effective functioning of the multi-governance model under the impact of the epidemic, the influences of parameter change on the stability of the system are analyzed. The results show that when the COVID-19 epidemic impact coefficient is high, government departments need to reduce their own supervision costs to achieve better multi-governance effects; when public reports are distorted, the government departments’ own supervision capabilities determine the impact of public participation on governance effects. (shrink)