This paper studies how a “business-like” approach is associated with the evolution of strategic philanthropy over time in a sample of Italian bank foundations (IBFs). Data are collected by surveying bank foundations’ chairs and trustees in two different periods, 2010 and 2016. The results are consistent with a positive and significant association between a progressive satisfaction about planning and control tools implementation and a wider adoption of strategic philanthropy, as perceived by members within the foundations. Moreover, trustees who bring specific managerial and/or financial competences and are offered ad hoc training at their incorporation are more likely to positively perceive improvements in the philanthropic action. Additional analyses show that when a foundation’s governance is subject to changes (i.e., the former chair is replaced by a new one) the association between planning and control implementation and strategic philanthropy becomes negative, thus confirming the strong leadership role exercised by the chair within IBFs.

Does Governance Sophistication Shape Philanthropy? A Longitudinal Analysis.

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