Doing good deeds in times of need: a strategic perspective on corporate disaster donations
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No Canadian affiliation. An affiliation-only frame — the usual design — would never have seen this work. It is one of the works that make the case for inverting the frame.
Machine scores (provisional)
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Abstract
Abstract Major corporations often respond charitably in times of disaster. However, disasters can also impose nontrivial costs on firms themselves, and under adverse conditions, firms typically donate less, not more. This paper takes a strategic perspective on corporate magnanimity in times of crisis by looking at the relationship between firm value, reputation, and donations by U.S. Fortune 500 firms in the case of Hurricane Katrina. In general, we find that Katrina's landfall was associated with significant negative abnormal stock returns. In particular, we find that a reputation for social irresponsibility was associated with both the greatest drop in stock prices and the greatest likelihood of making a subsequent charitable donation in response to the disaster. Copyright © 2011 John Wiley & Sons, Ltd.
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The record
- Venue
- Strategic Management Journal
- Topic
- Corporate Social Responsibility Reporting
- Field
- Business, Management and Accounting
- Canadian institutions
- —
- Funders
- Simon Fraser University
- Keywords
- ReputationHurricane katrinaLandfallStock (firearms)Perspective (graphical)Value (mathematics)BusinessEconomicsNatural disasterFinancial economicsLawPolitical scienceGeography
- Has abstract in OpenAlex
- yes