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| Author: | Muller, A. Kräussl, R. |
| Title: | The value of corporate philanthropy during times of crisis: the sensegiving effect of employee involvement |
| Journal: | Journal of Business Ethics
2011 : OCT I, VOL. 103:2, p. 203-220 |
| Index terms: | USA corporate philanthropy employees company value crises |
| Freeterms: | sensegiving |
| Language: | eng |
| Abstract: | It is suggested by research that philanthropy's (henceforth as: ptrhy.) value to the firm is mainly mediated by contextual factors, e.g. managers' assumed motives for charity. This study extends this contingency perspective by using a 'sensegiving' lens, by which external actors' interpretations of organizational actions may be influenced by the way in which the organization communicates about those actions. It is herein considered how sensegiving features in ptrhy.-related press releases affect whether investors value those donation decisions. Herein, it is empirically analyzed abnormal returns to announcements by U.S. Fortune 500 firms documenting their donations to Hurricane Katrina disaster relief in 2005. It is expected that in general, donation decisions would be controversial given the uncertainty around hurricane's economic effects at the time... Empirical support is found for the proposed hypotheses etc. |
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