What Leads to Impactful Family Philanthropy? Family Incubation as a Missing Link

Abstract

Despite a wealth of research on philanthropy, gaps remain with respect to how enterprising families successfully navigate their giving over time. Impactful philanthropy is needed, and now more than ever ? in the post COVID-19 world in which society at large is facing a major global health and economic crisis. Thanks to an in-depth multiple case study of ten impactful enterprising families, we induct a theoretical framework that explains how enterprising families navigate their philanthropic activities successfully. We identify a process model of impactful family philanthropy, introducing a new construct of family incubation. Overall, we contribute to the literature on contemporary philanthropy, family business research as well as entrepreneurship, crystallizing the pivotal role of family incubation in the impactful family philanthropy, and shed light on the dynamic evolution of family philanthropy.