That’s what two Australian academic researchers have found after comparing donor behaviors with information in HEPdata’s comprehensive GiftPlus Online® database of matching gift programs and policies.
In their paper, “Can Socially Responsible Firms Survive Competition? An Analysis of Corporate Employee Matching Grant Schemes,” professor of business Dr. Ning Gong of Deakin University and professor of economics Dr. Bruce D. Grundy of the University of Melbourne tested whether companies can afford to implement matching gift programs considering the fierce competition in the marketplace for both capital and labor.
They found that companies with matching gift programs that were included in the GiftPlus Online® database appeared more frequently in the Fortune Magazine list of “Best 100 Companies to Work For in America” than companies without matching gift programs.
Furthermore, they found that such programs could help nonprofits raise more money for their causes.
“A company’s board can be applauded for its ‘social responsibility’ in adopting a matching scheme that, if designed correctly, will cost the shareholders nothing, while coordinating employee giving, and raising more for charities,” the authors concluded.
The research paper, which is available online (subscription required) and will be published in an upcoming issue of the Oxford University Press journal The Review of Finance.
The authors believe that their research represents the first academic study ever conducted on employee matching gift programs using the HEP GiftPlus Online® database. The authors praised the completeness of its records and its long history for helping make the research possible.
The authors have presented their findings at top academic conferences in the United States, the United Kingdom, Australia, Hong Kong, and elsewhere around the world.
Gong and Grundy plan to follow up their research with information for companies to help them create optimal matching gift programs and establish good HR policies for building productive teams.