Stiftungen

Italian corporate foundations and the challenge of multiple stakeholder interests

“…In the case of reputational interest, enlightened self-interest guides the creation of a corporate foundation (Ricks and Williams, 2005), and the corporate foundation' s activities can be designed to produce a specific, measurable benefit in an identifiable time period (Mescon and Tilson, 1987;Stendardi, 1992). Indeed, many researchers have argued that the main reason for creating a corporate foundation is linked to reputation (Strachwitz, 1994;Toepler, 1996). The foundation' s activities are supposed to legitimize the role of the firm in its environment, play an important role in economic development, and enhance culture and knowledge diffusion (Fombrun and Shanley, 1990).…”

“…Only a few studies, furthermore, have considered specific characteristics of corporate foundations. Corporate foundations are different from other types of foundations, because they are mainly reputational (Strachwitz, 1994;Toepler, 1996;Westhues and Einwiller, 2006), corporate public relations instruments of founder for-profit firms (Marquardt, 2001), or instruments for supporting social or charitable issues (Petrovits, 2006). This exploratory study contributes to the scientific debate on foundations by defining a specific classification of corporate foundations that overcomes the classic dichotomy of operative or grantmaking models of general foundations.…”

On the Problem of Defining Foundations in a Comparative Perspective

“…Such foundations are a means of preventing power struggles among heirs or large inheritance taxes that would break up the company. Indeed, the option to bring companies under the control of foundations is seen as a major incentive, and much recent growth in the foundation field is attributed to it (Karpen, 1980;Strachwitz, 1994).…”