공익법인 기부금 수입의 영향요인에 관한 탐색적 연구: 회계정보와 온라인정보의 비교

In this study, we empirically examine the organizational information characteristics such as accounting information, web disclosure information, and traditional media coverage which influence charitable giving. The results are as follows: First, administrative expenses(ADMIN) has a significant negative effect on donations, while program-related expenses(inverse of PRICE) has a positive effect on donations. Second, in the market for charitable contributions, media coverage plays an additional informational role beyond that of accounting information such as fundraising. Third, online financial disclosure and annual report disclosure have consistently positive associations with donations. In contrast, among web disclosures, mission-related performance disclosures have shown no significant relevance to donations. Fourth, the higher the ratio of administrative expenses and fundraising expenses to total costs, the lower the incentive for individual donors, and that corporate and company donors value the practical benefits of increased marketing opportunities by donations. Fifth, the effects of donations on contributions by NPO type and NPO size were analyzed, but no significant difference was found. Similar results were obtained when the total income of the project was changed to a dependent variable instead of the contribution. Lastly, the larger the NPO"s assets, the older the age of NPO’s and the higher concentration of donors, the more positive the effect on the contributions, but a significant negative association was found between the tax confirmation and the contributions. This study analyzed the relative usefulness of new online information, such as media coverage and web disclosure, in addition to traditional accounting information in donation decision-making for the first time. The results of this study will be useful information to improve the transparency and activation of donations by NPO managers and the government.