Research on the reasons and ways that successful entrepreneurs benefit society
DOI:
https://doi.org/10.61173/gqdpjy47Keywords:
Successful Entrepreneurs, Making and Spending Money, BenefitsAbstract
Successful entrepreneurs such as Warren Buffett and Jack Ma have built thriving businesses and donated a portion of their earnings to charitable organizations that promote education, health care, and the environment. This paper first theoretically explores how successful business people benefit society by making and spending money. Then, this paper takes Chinese listed companies that have generated positive accounting profits in the past three years as samples to explore the relationship between environmental investment and intangible assets of listed companies and empirically verifies whether CEOs increase CSR investment out of strategic motives. Regression results show that when environmental investment increases by 1%, intangible assets of listed companies increase by 0.053%, indicating that CEOs may benefit others strategically to maximize the wealth of stakeholders and increase profits. Therefore, this paper finally draws the conclusion that successful business people not only make a positive contribution to society but also benefit the whole society. They fulfill their social responsibility by supporting global health, development, and sustainability programs, and the modern economy is critical to incentivizing this philanthropy.
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