@misc{10481/64471,
year = {2020},
url = {http://hdl.handle.net/10481/64471},
abstract = {Corporate philanthropy, as an expression of commitment to the common good, can
contribute to the creation of social value in companies. This corporate philanthropy can be managed
in various ways. The choice of how to channel corporate philanthropy could be, in accordance with
stakeholder theory, the result of companies’ interactions with key stakeholders and, in accordance
with the theory of signaling, a signal that companies use to respond to their demands. This approach
contributes to the literature on bottom-up initiatives (stakeholder–managers) as opposed to top-down
strategies (board–stakeholders) in relation to corporate social responsibility, which is becoming
increasingly important in a society where networks of communication, cooperation and interaction
are established. To this end, a study was conducted on 221 European companies indexed in the
Dow Jones Sustainability Indices in the year 2018. The findings have several practical implications:
The management of corporate philanthropy should take into account the stakeholders’ requirements,
and stakeholders show greater affinity and trust with the company when philanthropy is channeled
through foundations. By contrast, donations are not associated with stakeholder attitudes. As a
theoretical implication, this paper supports the theories of stakeholders and signaling by explaining
the role of philanthropy in the relationship with stakeholders.},
organization = {RD PROJECTS},
organization = {European Union (EU)

B1-SEJ-387-UGR18},
publisher = {MDPI},
keywords = {Corporate philanthropy},
keywords = {Signaling theory},
keywords = {Foundations},
keywords = {Donations},
keywords = {Stakeholders},
title = {Do Stakeholders Modulate Philanthropic Strategy? Corporate Philanthropy as Stakeholders’ Engagement},
doi = {https://doi.org/10.3390/su12187242},
author = {Arco Castro, María Lourdes and López Pérez, María Victoria and Rodríguez Gómez, Sara and Garde Sánchez, Raquel},
}