Corporate philanthropy: Antecedents, consequences, and implications for corporate governance

摘要: Corporate philanthropy continues to be an important global phenomenon given the increasing emphasis on corporate citizenship and stakeholder capitalism (Serafeim, 2022). After many corporations stepped up their corporate philanthropy efforts during the COVID-19 pandemic, more than 90 percent of US corporations plan to maintain or even heighten philanthropic contributions in the years to come to support causes such as racial inequality and climate change (The Conference Board, 2022). Corporate philanthropy is often seen as an important dimension of corporate social responsibility (CSR) and includes gifts provided by corporations to social and charitable causes (Godfrey, 2005), which may include contributions to causes such as education, culture, the arts, health care, and disaster relief (Ballesteros, Useem, & Wry, 2017; Wang & Qian, 2011).Corporations often engage in philanthropic giving for strategic …