Corporate foundations and their governance: Unexplored territory in the corporate social responsibility agenda
Abstract
Purpose
The purpose of this paper is to examine the governance structures of corporate foundations in the implementation of corporate social responsibility (CSR) initiatives.
Design/methodology/approach
After discussing the heretofore-underutilized research advantages of corporate foundations, the authors survey theoretical perspectives to explain the corporate foundation phenomenon. The authors build on this theory to construct a typology of corporate foundation structures based on their interactions with internal and external stakeholders.
Findings
The findings suggest that many of the largest corporations do not embed their corporate foundation into their strategic plan as they define it (i.e. specific alignment with corporate competency).
Research limitations/implications
Research limitations include an examination solely of the 50 largest corporate foundations among a field of nearly 3,000 corporate foundations. The authors advance a research agenda that addresses the potential role of corporate foundations in fulfilling CSR.
Practical implications
The foundation field may see a movement toward corporate foundations being strategically aligned with the parent company’s core competence as external stakeholders continue to pressure companies.
Social implications
Studying corporate foundations is important as they serve as intermediaries between corporations and civil society. Thus, they will continue to play an important role in the CSR agenda.
Originality/value
This paper is one of the first to examine the corporate foundation phenomenon, with a specific focus on their governance. Thus, the authors go beyond the motivations that lead corporations to be involved in “socially responsible activities,” the types of activities that corporations select, and how these choices produce benefits for a diverse set of stakeholders.
Keywords
Citation
Minefee, I., Neuman, E.J., Isserman, N. and Leblebici, H. (2015), "Corporate foundations and their governance: Unexplored territory in the corporate social responsibility agenda", Annals in Social Responsibility, Vol. 1 No. 1, pp. 57-75. https://doi.org/10.1108/ASR-12-2014-0005
Publisher
:Emerald Group Publishing Limited
Copyright © 2015, Emerald Group Publishing Limited