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Corporate Structure and the Financial Support of U.S. Symphony Orchestras

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  • Scherer, F. M.

    (Harvard U)

Abstract

The United States experienced merger waves of unprecedented proportions during the 1980s and 1990s. After mapping the resulting relocation of corporate headquarters among metropolitan areas, this article investigates how relocations affected the financial status of leading American symphony orchestras, which depend for support upon philanthropic contributions from corporations and gifts from listeners, including corporate staff. The size of orchestras' budgets is explained most strongly in a panel analysis by local income per-capita and the magnitude of their endowments. Endowments in turn depend upon income per-capita and the amount of assets controlled by corporations headquartered in the area served by orchestras.

Suggested Citation

  • Scherer, F. M., 2007. "Corporate Structure and the Financial Support of U.S. Symphony Orchestras," Working Paper Series rwp07-002, Harvard University, John F. Kennedy School of Government.
    • Handle: RePEc:ecl:harjfk:rwp07-002
    as

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    File URL: https://research.hks.harvard.edu/publications/workingpapers/citation.aspx?PubId=4486&type=WPN
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    References listed on IDEAS

    as
    1. Navarro, Peter, 1988. "Why Do Corporations Give to Charity?," The Journal of Business, University of Chicago Press, vol. 61(1), pages 65-93, January.
    2. Mark LeClair & Kelly Gordon, 2000. "Corporate Support for Artistic and Cultural Activities: What Determines the Distribution of Corporate Giving?," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 24(3), pages 225-241, August.
    3. John O'Hagan & Denice Harvey, 2000. "Why Do Companies Sponsor Arts Events? Some Evidence and a Proposed Classification," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 24(3), pages 205-224, August.
    4. F. Scherer, 2006. "A New Retrospective on Mergers," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 28(4), pages 327-341, June.
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    JEL classification:

    • L29 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Other

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