SOCIAL IRRESPONSIBILITY, FIRM VALUE AND PHILANTHROPY: THE CORPORATE RESPONSE TO HURRICANE KATRINA.

Our paper explores strategic motivations for corporate charity in response to humanitarian crises. We find that the stock prices of U.S. firms with reputations for irresponsibility were most negatively impacted by Hurricane Katrina, and that those firms were also most likely to engage in philanthropy in the disaster's wake. [ABSTRACT FROM AUTHOR]

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