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May the Economic Downturn Affect Corporate Philanthropy? Exploring the Contribution Trends in Spanish and U.S. Companies

Lourdes Urriolagoitia,

Abstract: The study purpose is to gain insight into changing diverse management approaches to corporate philanthropy in a period that spans both from economic boom and recession. First, the authors present an overview of Spanish corporate philanthropy and compare it to U.S. corporate philanthropy. The authors find a significant gap between the U.S. and Spain’s corporate philanthropic spending as a percentage of profits and different trends between the two. A significant similarity is that the economic downturn is having a lower impact on spending than was predicted. The authors then focus on eight Spanish companies to explore how firms manage their philanthropy. The authors present a management model matrix that provides a framework for philanthropy management types and throws up divergent results for both society and companies. It seems that those companies that are managing philanthropy in a more sustainable way are not cutting their spending in this field despite falling profits.
Keywords: Corporate Philanthropy / Corporate Philanthropy Management Models / U.s. and Spanish Corporate Philanthropy / Corporate Philanthropy and the Recession

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