In this study we examine how a firm’s corporate philanthropic behavior may affect its subsequent acquisitions. Drawing upon stakeholder theory, we argue that firms may strategically use philanthropic donations to obtain support or approval from stakeholders so as to advance subsequent acquisitions, suggesting a positive relationship between corporate giving and corporate acquisitions in terms of both acquisition number and value. We further contend that stakeholders’ support for acquisitions would be even more critical for firms with negative or conservative attitudes to (...) external stakeholders. Therefore, it is expected that both negative media coverage and controversial industry sectors will strengthen the positive relationship between corporate giving and subsequent corporate acquisitions. Analyses of publicly listed manufacturing firms in China during 2004–2015 largely support our predictions. This study deepens our understanding about the drivers of corporate giving and highlights its role in corporate acquisitions. (shrink)

As a traditional clothing symbol that is unique to the Chinese nation, the dragon symbol combines the distinctive features of the Chinese nation, reflecting the depth of mental changes and the historical context of Chinese culture. The image of the dragon has formed a kind of dragon pattern as a certain set of ideas about the culture that encoded all its changes. Therefore, in national clothing the dragon image has been one of the most favorite patterns for thousands of years. (...) With the interweaving of world cultures and the deepening of the concept of clothing design, the dragon pattern will incorporate fresh elements of Western culture while maintaining the essence of traditional Chinese culture, and show a new design image through the utilization of various innovative ideas and design methods. The following methods were used for the study: literature review, field research, analysis of design cases, analysis of fashion trends. Using these methods, the specifics of using dragon designs in the fashion industry in different seasons and years are analyzed, and the trend of their evolution in the field of high fashion is studied. In the article we analyzed modern trends of clothing design and gave their characteristics. The results of the study showed that even in modern youth fashion this national symbol is actively used, which indicates that the patterns and images of the dragon have real applicability and wide prospects of application in modern fashion design. Modern clothing design provides a rich cultural heritage for modern clothing to retain the characteristics of civilization on the basis of continuous innovation. The use of dragon motifs in modern clothing not only meets the aesthetic concepts of modern people, but also adds vitality to clothing design. (shrink)

Business Ethics: A European Review, EarlyView.