JOURNAL ARTICLE

Corporate Ownership of Fine Art: Firm Valuation, Societal Impacts, and Philanthropy.

  • Published In: Journal of Wealth Management, 2023, v. 26, n. 2. P. 83 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Ang, James; Boyer, Carol Marie 3 of 3

Abstract

This article examines the valuation and ESG performance of firms with corporate collections of fine art. Specifically, this article looks at whether having an art collection affects a firm's valuation. With corporate art collections, there may be the potential for agency issues or the possibility of value enhancement for the firm. This article also examines whether firms with corporate art collections are more socially minded in terms of environmental, social, and governance measures, and philanthropy. The findings provide evidence that firms with corporate art collections have higher environmental, social, and governance performance, while maintaining equal value to their peers. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Journal of Wealth Management. 2023/09, Vol. 26, Issue 2, p83
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2023
  • ISSN:1534-7524
  • DOI:10.3905/jwm.2023.1.216
  • Accession Number:169981971
  • Copyright Statement:Copyright of Journal of Wealth Management is the property of With Intelligence Limited and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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