Doing good deeds in times of need: a strategic perspective on corporate disaster donations

Muller, Alan; Kräussl, Roman

doi:10.1002/smj.917

Cited by 386Corporate Social Responsibility ReportingCorporate Identity and ReputationNonprofit Sector and Volunteering

Doing good deeds in times of need: a strategic perspective on corporate disaster donations

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Muller, Alan, Kräussl, Roman·2011·Strategic Management Journal

DOI 10.1002/smj.917

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Abstract

Major corporations often respond charitably in times of disaster. However, disasters can also impose nontrivial costs on firms themselves, and under adverse conditions, firms typically donate less, not more. This paper takes a strategic perspective on corporate magnanimity in times of crisis by looking at the relationship between firm value, reputation, and donations by U.S. Fortune 500 firms in the case of Hurricane Katrina. In general, we find that Katrina's landfall was associated with significant negative abnormal stock returns. In particular, we find that a reputation for social irresponsibility was associated with both the greatest drop in stock prices and the greatest likelihood of making a subsequent charitable donation in response to the disaster. Copyright © 2011 John Wiley & Sons, Ltd.

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Firms may take advantage of strategic opportunities to bolster their image, particularly when they are perceived as socially irresponsible.
“firms may take advantage of strategic opportunities to bolster their image, particularly when they are perceived as socially irresponsible (Brammer and Millington, 2005;Muller and Kra ¨ussl, 2011).”
From Strategic Silence: Withholding Certification Status as a Hypocrisy Avoidance Tactic (2018) · cites this paper as Muller and Kraussl, 2011

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SOCIAL IRRESPONSIBILITY, FIRM VALUE AND PHILANTHROPY: THE CORPORATE RESPONSE TO HURRICANE KATRINA.
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Disaster Relief, IncPreprint
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Do markets love misery? Stock prices and corporate philanthropic disaster response
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Disaster Relief, Inc.: when is corporate philanthropy good or bad for shareholders?
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Authors: Muller, A., & Kräussl, R.
Affiliations: University of Amsterdam (NL)
Vrije Universiteit Amsterdam (NL)
Corresponding author: Muller, Alan
ORCID: Muller, Alan
Kräussl, Roman
Venue: Strategic Management Journal
Publisher: Wiley
Published: 2011-02-18
Volume: 32
Issue: 9
Pages: 911-929
ISSN: 0143-2095 (ISSN-L)
1097-0266
DOI: 10.1002/smj.917
OpenAlex: W2117375857
Cited by: 385
References: 70
Citations by year: 2026: 19 · 2025: 34 · 2024: 32 · 2023: 38 · 2022: 29 · 2021: 32 · 2020: 33 · 2019: 19 · 2018: 29 · 2017: 24 · 2016: 25 · 2015: 21 · 2014: 21 · 2013: 13 · 2012: 13
FWCI: 52.87
Type: journal article
Language: en
Open access: green
doi.org
Licence: onlinelibrary.wiley.com/termsAndConditions#vor (vor)
Locations: Strategic Management Journal (publishedVersion)
SSRN Electronic Journal (acceptedVersion)
UvA-DARE (University of Amsterdam) (publishedVersion)
VU Research Portal (publishedVersion)
University of Washington Tacoma Digital Commons (University of Washington Tacoma) (submittedVersion)
Digital Academic REpository of VU University Amsterdam (Vrije Universiteit Amsterdam) (submittedVersion)
Data Archiving and Networked Services (DANS) (submittedVersion)
Funders: Simon Fraser University
Topics: Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Identity and Reputation
Social Sciences › Sociology and Political Science › Nonprofit Sector and Volunteering
Keywords: corporate philanthropy, Hurricane Katrina, corporate reputation, social irresponsibility, abnormal returns, firm value, Fortune 500 companies, charitable giving, corporate crisis response

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Doing good deeds in times of need: a strategic perspective on corporate disaster donations

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