Firm Philanthropy in Small- and Medium-Sized Family Firms: The Effects of Family Involvement in Ownership and Management

This study investigates how family involvement influences firm philanthropy in small- and medium-sized family firms, drawing on stewardship theory. It argues that family involvement in ownership positively affects firm philanthropy, while its interaction with family involvement in management has a negative effect. Based on a sample of 130 Italian family firms, the findings offer implications for theory and practice in the context of philanthropy within family businesses. The research sheds light on the unique dynamics of giving in these organizational structures.