Autonomy or oligarchy? The changing effects of university endowments in winner-take-all markets

Meyer, Heinz‐Dieter; Zhou, Kai

doi:10.1007/s10734-017-0109-1

Cited by 18 publications

(16 citation statements)

References 25 publications

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“…One of the least studied aspects of elite philanthropy is how it functions systemically to concentrate power in the hands of mega foundations and the most prestigious endowed charitable organizations (Anheier, 2018; Meyer & Zhou, 2017). With regard to the former, Hammack and Smith (2018, p. 1608) estimate that in 2014 the top 160 US independent private foundations combined held assets worth $434.32 billion compared to $227.68 billion held by the remaining 79,840 independent foundations then in existence.…”

Section: The Elite Philanthropic Systemmentioning

confidence: 99%

“…These pools are held either by intermediaries controlled by donors—independent foundations, community foundation funds and donor‐advised funds—or by the trustees of beneficiary organizations, including universities, hospitals, museums and performing arts organizations (Calabrese & Ely, 2017; Graddy & Wang, 2009; Jung et al., 2013; Leat, 2016). Large endowments held by beneficiary organizations are a source of power, stability and competitive advantage, as discussed with respect to elite, globally revered universities (Boliver, 2015; Meyer & Zhou, 2017). They are also engines of inequality and social stratification.…”

Section: The Elite Philanthropic Systemmentioning

confidence: 99%

“…Even the globally minded BMGF, in funding drug discovery to combat malignant diseases in the developing world, does so largely by sponsoring research in elite research institutions in the developed world (McGoey, 2015). By spending predominantly on home causes and by concentrating spending on prestigious universities, the redistributive potential of elite philanthropy has proved severely self‐limiting (Meyer & Zhou, 2017).…”

Section: The Elite Philanthropic Systemmentioning

confidence: 99%

“…Critics argue that philanthropy is a profoundly undemocratic institution that places yet more power in the hands of elites by handing them control of cultural, social and political priorities (Horvath & Powell, 2016; Reich, 2016a). According to this view, funding decisions reflect elite prejudices rather than rational assessment of the relative merits of different causes (Meyer & Zhou, 2017; Simpson, 2016). This leads the ethical philosopher Peter Singer (2015) to conclude, from a utilitarian perspective, that a high proportion of philanthropic spending is ineffective, doing little to improve the lives of those most in need.…”

Section: Introductionmentioning

confidence: 99%

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Elite philanthropy in the United States and United Kingdom in the new age of inequalities

Maclean

Harvey

Yang

et al. 2021

Int J Management Reviews

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Elite philanthropy—voluntary giving at scale by wealthy individuals, couples and families—is intimately bound up with the exercise of power by elites. This theoretically oriented review examines how big philanthropy in the United States and United Kingdom serves to extend elite control from the domain of the economic to the domains of the social and political, and with what results. Elite philanthropy, we argue, is not simply a benign force for good, born of altruism, but is heavily implicated in what we call the new age of inequalities, certainly as consequence and potentially as cause. Philanthropy at scale pays dividends to donors as much as it brings sustenance to beneficiaries. The research contribution we make is fourfold. First, we demonstrate that the true nature and effects of elite philanthropy can only be understood in the context of what Bourdieu calls the field of power, which maintains the economic, social and political hegemony of the super‐rich, nationally and globally. Second, we demonstrate how elite philanthropy systemically concentrates power in the hands of mega foundations and the most prestigious endowed charitable organizations. Third, we explicate the similarities and differences between the four main types of elite philanthropy—institutionally supportive, market‐oriented, developmental and transformational—revealing how and why different sections within the elite express themselves through philanthropy. Fourth, we show how elite philanthropy functions to lock in and perpetuate inequalities rather than remedying them. We conclude by outlining proposals for future research, recognizing that under‐specification of constructs has hitherto limited the integration of philanthropy within the mainstream of management and organizational research.

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Section: The Elite Philanthropic Systemmentioning

confidence: 99%

Section: The Elite Philanthropic Systemmentioning

confidence: 99%

Section: The Elite Philanthropic Systemmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Elite philanthropy in the United States and United Kingdom in the new age of inequalities

Maclean

Harvey

Yang

et al. 2021

Int J Management Reviews

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“…En el caso europeo, el proceso de Boloña y la llamada Estrategia de Lisboa han añadido presión a las Universidades por su modernización, mayor transparencia y rendición de cuentas en un contexto donde también se discute el aseguramiento de la calidad y el financiamiento (Ansell, 2008;Antonowicz & Jongbloed, 2015;CRE, 2001; European Commission/EACEA/Eurydice, 2015, 2018; Krüger, Parellada, Samoilovich, & Sursock, 2017;Kwiek, 2017;Meyer & Zhou, 2017;Sursock & Smidt, 2010).…”

Section: Definición Del Problema De Estudiounclassified

Contribución de las bibliotecas académicas a la misión de la universidad: propuesta de un marco analítico de enfoque cualitativo

Castilla¹

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Dynamic capabilities and governance: An empirical investigation of financial performance of the higher education sector

Heaton

Teece

Agronin³

2022

Strategic Management Journal

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Research Summary We postulate that resource allocation decisions consistent with dynamic capabilities can improve financial performance, but that governance moderates the relationship between resource allocation flexibility and financial performance. Using more than a decade of data on US public universities, we find that flexibility has much more impact when matched by lower levels of governance that allow greater expenditure autonomy for university executives and administrators. Managerial Summary Organizations are increasingly subject to conflicting demands imposed by their institutional environments. Given the importance of governance arrangements, we apply strategic management concepts to public universities and investigate the effect of external governance arrangements on university performance. We show that universities that reallocate resources more regularly are more likely to run larger budget surpluses. This is far more likely to be true at universities where external governance arrangements allow greater executive discretion.

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Autonomy or oligarchy? The changing effects of university endowments in winner-take-all markets

Cited by 18 publications

References 25 publications

Elite philanthropy in the United States and United Kingdom in the new age of inequalities

Elite philanthropy in the United States and United Kingdom in the new age of inequalities

Contribución de las bibliotecas académicas a la misión de la universidad: propuesta de un marco analítico de enfoque cualitativo

Dynamic capabilities and governance: An empirical investigation of financial performance of the higher education sector

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