After the harvest: A stewardship perspective on entrepreneurship and philanthropy

• Published in: Journal of business venturing 2017-07, Vol.32 (4), p.385-404
• Main Authors: Mathias, Blake D., Solomon, Shelby J., Madison, Kristen
• Format: Article
• Language: English
• Subjects: Harvest; Philanthropy; Qualitative research; Stewardship theory; Venture exit
• ISSN: 0883-9026; 1873-2003
• DOI: 10.1016/j.jbusvent.2017.04.001

Entrepreneurs comprise the majority of the richest people in the world. Their venture exits, or more specifically harvests, often represent the events through which they accrue this great wealth. Following these harvests, entrepreneurs make critical decisions with their financial resources that can have a profound impact on society. Through content analysis of The Giving Pledge letters and in-depth interviews with entrepreneurs, we explore how and why entrepreneurs redistribute their resources following harvests, and we reveal four mechanisms — intrinsic motivation, identification, personal power, and stewardship norms — that drive these philanthropic decisions. We extend stewardship theory and highlight a new avenue through which entrepreneurs can act as stewards of others and address societal concerns. •We advance literature at the intersection of philanthropy and entrepreneurship.•We show how harvests can trigger entrepreneurs' ability to give and potentially prime societal expectations for entrepreneurs to give.•We extend the existing literature on entrepreneurial exit by exploring harvests.•We extend stewardship theory into a new realm by explaining how entrepreneurs act as stewards of their communities.•We offer new insights that explain how norms of reciprocity and generosity induce entrepreneurs to give back to society.