Social responsiveness, profitability and catastrophic events: Evidence on the corporate philanthropic response to 9/11
Social responsiveness, profitability and catastrophic events: Evidence on the corporate philanthropic response to 9/11
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DOI：
10.1007/s10551-007-9553-7
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发表时间：
2008-09-01
影响因子：
6.1
通讯作者：
Patten, Dennis
中科院分区：
文献类型：
--
作者：
Crampton, William;Patten, Dennis
在这项研究中，我们试图确定灾难性事件是否会导致与公司盈利水平无关的公司慈善捐赠。我们研究了与企业对2001年9/11恐怖袭击的慈善反应有关的问题。基于489家财富500强公司的样本，我们发现9/11事件后公司贡献程度的差异与公司盈利能力的差异显著正相关。此外，虽然与这一灾难性事件的联系程度导致了与联系较少的公司相比更高的捐赠水平，但慈善活动程度的差异仍然与联系较密切的公司的短期盈利能力有关。因此，这项研究提供了证据，表明即使在灾难性事件发生后，企业的慈善捐赠也受到经济担忧的限制。
In this study we seek to determine whether catastrophic events lead to corporate charitable giving unrelated to levels of firm profitability. We examine the issue relative to the corporate philanthropic response to the 9/11 terrorist attacks of 2001. Based on a sample of 489 Fortune 500 companies, we find that differences in the extent of corporate contributions following 9/11 are positively and significantly associated with differences in firms' profitability. Further, while the degree of connection to the catastrophic event led to higher levels of giving in comparison to the contributions of less connected firms, differences in the extent of philanthropy are still related to short-term profitability for the more connected firms. The study thus provides evidence suggesting that even in the wake of catastrophic events, corporate philanthropic giving is constrained by economic concerns.