The strategic value of corporate philanthropy: A meta-analysis of the mediating and moderating mechanisms

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dc.contributor.authorDuran, Patricio
dc.contributor.authorJeldes, Fabiola
dc.contributor.authorCiravegna, Luciano
dc.contributor.authorHarrison, Jeffrey S.
dc.date.accessioned2026-01-28T12:44:50Z
dc.date.available2026-01-28T12:44:50Z
dc.date.issued2025
dc.description.abstractUsing meta-analytical techniques on a database of 158 studies covering 45 countries, we build and test theory regarding important mediating and moderating mechanisms in the relationship between corporate philanthropy and firm financial performance. Stakeholder theory helps explain why stakeholders respond positively to corporate philanthropy, even though they do not benefit directly. Also, the institutional perspective suggests that stakeholders are likely to respond negatively to firms when their philanthropic behavior is not consistent with institutional norms. These theories elucidate how specific differentiating mechanisms—firm reputation, marketing communication investment, and innovation—interact with philanthropy to enhance overall performance. We predict and find that corporate philanthropy plays an even stronger role in generating higher performance in fragile states. In these states, corporate philanthropy can help fill voids in delivering basic needs and public goods that the state is unable or unwilling to provide. Our results suggest that scholars should focus on how and in what contexts corporate philanthropy has a more substantial strategic role.
dc.facultadFacultad de Ciencias Económicas y Administrativas
dc.identifier.doihttps://doi.org/10.1016/j.emj.2025.01.008
dc.identifier.urihttps://repositoriobibliotecas.uv.cl/handle/uvscl/17110
dc.language.isoen
dc.publisherElsevier
dc.sourceEuropean Management Journal
dc.subjectCorporate philanthropy
dc.titleThe strategic value of corporate philanthropy: A meta-analysis of the mediating and moderating mechanisms
dc.typeArticle
uv.catalogadorRCR DIBRA

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