Corporate Philanthropy: Are Corporations Strategic in Their Philanthropic Practices?
Authors: Olena Verbenko
This paper examines the diversity of corporate philanthropic practices and aims to determine whether corporations are strategic in their philanthropic giving. Using an original database including firm-level data on dollar donations for charitable purposes among American Fortune 500 companies, this paper looks at the kind of firms that participate in giving, the kind of giving programs these firms set up, and the structure of the foundation giving these firms chose. The definition and identification of strategic philanthropy is discussed and explored. The main empirical findings of this paper provide evidence that at present time firms continue practicing non-strategic philanthropy.