Corporate Philanthropy and Innovation
Frederick L. Bereskin
University of Delaware
Terry L. Campbell II
University of Delaware - Department of Finance
University of Hong Kong
November 30, 2012
We examine the association between corporate giving and innovation, using a unique data set of both direct giving and foundation giving. We find that direct giving by firms is positively associated with a higher quantity and quality of innovation, and with more collaborative, explorative, and original innovation. In contrast, our results do not hold for giving by corporate foundations. Our findings provide evidence of the distinct motives by which firms choose between direct giving and giving through a corporate foundation, and help explain firms’ traditional resistance to mandatory disclosure of their giving programs.
Number of Pages in PDF File: 43
Keywords: Innovation, Philanthropy, Patents, Disclosureworking papers series
Date posted: July 17, 2012 ; Last revised: April 16, 2013
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