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Corporate philanthropy in the UK and US: the impact of cycles, strategy and CEO succession

By Taha Afshar

Abstract

Theoretical and empirical debates surrounding corporate philanthropy \ud (CP) date back to the 1930s, but have recently grown in line with the\ud importance of corporate social responsibility in the public realm.\ud Through three papers, this thesis adds to these debates by filling gaps \ud in our understanding of CP, relating to the cyclical nature of cash and \ud in-kind giving, how different ways of giving can influence profitability, \ud and the relative importance of the CEO. We do this using a panel of\ud 620 large firms in the UK over 14 years, and 500 US firms over 12 \ud years, enabling us to capture the heterogeneity between firms. Our key \ud theoretical contribution is to state that an integrated theory ought to be \ud developed, which considers the influence of firm costs, strategy and \ud the CEO as factors determining CP. Given the exposed limitations of \ud stakeholder, agency and leadership theories, we propose that a new \ud theory be developed, one which stresses the importance of managerial\ud discretion and values, whilst also considering how firm-level attributes \ud can determine giving

Topics: HD28 Management. Industrial Management
Year: 2012
OAI identifier: oai:etheses.lse.ac.uk:379
Provided by: LSE Theses Online

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