Resumen
This study investigates the relationship between corporate environmental responsibility and corporate philanthropy. Using a sample of Chinese listed firms from 2008 to 2013, this paper examines the role of corporate environmental responsibility in corporate philanthropy and the moderating influence of the institutional environment using multilevel analysis. The results show that corporate eco-friendly events are positively associated with corporate philanthropic strategy to a significant degree. Provincial-level government intervention positively moderate the positive relationship between eco-friendly events and corporate philanthropy and government corruption is negatively moderate the relationship. All these results are robust according to robustness checks. These findings provide a new perspective on corporate philanthropic strategy as a means to obtain critical resources from the government in order to compensate for the loss made on environmental responsibility. Moreover, the institutional environment is proved here to play an important role in corporate philanthropic strategy.