May the Economic Downturn Affect Corporate Philanthropy? Exploring the Contribution Trends in Spanish and U.S. Companies
- 22 August 2011
- journal article
- Published by SAGE Publications in Nonprofit and Voluntary Sector Quarterly
- Vol. 41 (5), 759-785
- https://doi.org/10.1177/0899764011417719
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
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