David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 40 (1):47 - 60 (2002)
Some scholars have argued that CEOs may have excessive influence on their foundation's trustees to give away a portion of company profits to charitable causes in order to gain access to elite circles or support the CEO's personal causes. This may result in charitable contributions that ultimately serve the personal interests of the CEOs without regard to corporate interests or social needs. We examine the extent that CEOs appear to direct charitable giving to be compatible with their own personal interests, and if CEO participation on the foundation board affects the relationship between CEO personal interests and charitable giving. Using a sample of 160 corporate foundations, our results showed that CEOs' interests, as measured by membership in different non-profit organizations, was associated with foundation charitable giving. This association decreased, but was not eliminated, when CEOs were absent from the foundation board. Implications of these findings for researchers and managers are discussed in regards to both agency theory and stewardship theory.
|Keywords||agency theory corporate philanthropy|
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Citations of this work BETA
Johan Graafland, Muel Kaptein & Corrie Mazereeuw-van der Duijn Schouten (2006). Business Dilemmas and Religious Belief: An Explorative Study Among Dutch Executives. [REVIEW] Journal of Business Ethics 66 (1):53 - 70.
Corrie Mazereeuw-van der Duijn Schouten, Johan Graafland & Muel Kaptein (forthcoming). Religiosity, CSR Attitudes, and CSR Behavior: An Empirical Study of Executives' Religiosity and CSR. Journal of Business Ethics.
Arthur Gautier & Anne-Claire Pache (forthcoming). Research on Corporate Philanthropy: A Review and Assessment. Journal of Business Ethics.
Jennifer C. Chen, Dennis M. Patten & Robin W. Roberts (2008). Corporate Charitable Contributions: A Corporate Social Performance or Legitimacy Strategy? Journal of Business Ethics 82 (1):131-144.
Jiatao Li & Carmen K. Ng (2013). The Normalization of Deviant Organizational Practices: The Non-Performing Loans Problem in China. [REVIEW] Journal of Business Ethics 114 (4):643-653.
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