Foundation Transparency from the Perspective of Stakeholders:Based on Foundation Transparency Index

With the rapid development of foundations, transparency is an important indicator to reflect their information openness. Transparency can demonstrate the level of governance of the foundations and affect public accountability and donations. This paper explores the factors affecting the transparency of foundations in China from the perspective of stakeholders. Eight independent variables are selected from four stakeholders: the government, donors, beneficiaries and media, and a multiple regression model is established to analyze their relationship with transparency. The results show that there is a positive correlation between government subsidies, years of establishment, donation income, nature of foundations, public welfare expenditure, number of projects, fund-raising channels, website availability and transparency. Among them, donation income, number of projects, website availability and fund-raising channels have a greater impact on transparency.