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Does doing good lead to doing well? BYU professor’s research says companies benefit from philanthropy

December 4, 2005 /

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‘Tis the season for giving, as individuals buy presents for family and friends and make donations to their favorite charities.

But while many people, and businesses as well, see the value of charitable giving, some corporations do not. They argue that the money they could donate to philanthropic efforts should instead go back into shareholders’ pockets. Those companies are wrong, says Paul C. Godfrey, associate professor of strategy in Brigham Young University’s Marriott School of Management.

Godfrey published an article on "The Relationship Between Corporate Philanthropy and Shareholder Wealth" in the October issue of Academy of Management Review. He said his research shows that a policy of corporate giving can protect a company much like an insurance policy, boosting its overall value and protecting shareholders’ investments when problems arise.

By Greg Kratz
Deseret Morning News

Full Story: http://deseretnews.com/dn/view/0,1249,635165561,00.html

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