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Corporate Structure and the Financial Support Of U.S. Symphony Orchestras

Frederic M. Scherer
Harvard University - John F. Kennedy School of Government

January 2007

KSG Working Paper No. RWP07-002

Abstract:
The United States experienced merger waves of unprecedented proportions during the 1980s and 1990s. After mapping the resulting relocation of corporate headquarters among metropolitan areas, this article investigates how relocations affected the financial status of leading American symphony orchestras, which depend for support upon philanthropic contributions from corporations and gifts from listeners, including corporate staff. The size of orchestras' budgets is explained most strongly in a panel analysis by local income per-capita and the magnitude of their endowments. Endowments in turn depend upon income per-capita and the amount of assets controlled by corporations headquartered in the area served by orchestras.

Keywords: Nonprofit sector

JEL Classifications: Z11, L29

Working Paper Series

Date posted: February 02, 2007 ; Last revised: February 06, 2007

Suggested Citation

Scherer, Frederic M., Corporate Structure and the Financial Support Of U.S. Symphony Orchestras (January 2007). KSG Working Paper No. RWP07-002. Available at SSRN: http://ssrn.com/abstract=939658

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Contact Information

Frederic M. Scherer (Contact Author)

Harvard University - John F. Kennedy School of Government ( email )

79 John F. Kennedy Street
Cambridge, MA 02138
United States
617-495-1154 (Phone)
617-496-0063 (Fax)