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dc.contributor.authorBrown, William O.en
dc.contributor.authorHelland, Ericen
dc.contributor.authorSmith, Janet Kiholmen
dc.date.accessioned2010-05-14T11:06:23Z-
dc.date.available2010-05-14T11:06:23Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/31432-
dc.description.abstractWe study corporate philanthropy using an original database that includes firm-level data on dollar giving, giving priorities, governance, and managerial involvement in giving programs. Results provide some support for the theory that giving enhances shareholder value, as firms in the same industry tend to adopt similar giving practices and firms that advertise more intensively also give more to charity. But much of our evidence indicates that agency costs play a prominent role in explaining corporate giving. Firms with larger boards of directors are associated with significantly more cash giving and with the establishment of corporate foundations. Consistent with effective monitoring by creditors, firms with higher debt-to-value ratios give less cash to charities and are less likely to establish foundations. The empirical work considers the impact of industry regulation on giving and controls for state philanthropy laws and fiduciary responsibility laws.en
dc.language.isoengen
dc.publisher|aClaremont McKenna College, Department of Economics |cClaremont, CAen
dc.relation.ispartofseries|aClaremont Colleges Working Papers |x2006-01en
dc.subject.jelG34en
dc.subject.jelG38en
dc.subject.jelK22en
dc.subject.jelL51en
dc.subject.jelM41en
dc.subject.ddc330en
dc.subject.keywordCorporate philanthropy : corporate governanceen
dc.subject.keywordboards of directorsen
dc.subject.keywordmonitoring, agency costsen
dc.subject.stwWohltätigkeiten
dc.subject.stwUnternehmensethiken
dc.subject.stwCorporate Governanceen
dc.subject.stwVorstanden
dc.subject.stwLeistungskontrolleen
dc.subject.stwUSAen
dc.titleCorporate philanthropic practices-
dc.typeWorking Paperen
dc.identifier.ppn50865033Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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