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Data philanthropy (DP) is a new but much-lauded phenomenon. Extant DP research has been either conceptual, exploratory, and/or qualitative. The present study seeks to examine the business value of data philanthropy to the donor firm. We use an event study method to analyze stock performance of public firms associated with data philanthropy activities to determine if a link exists. We find significant relationships between abnormal returns and data openness and the number of collaboration participants. [ABSTRACT FROM AUTHOR]

Data philanthropy is a corporate gift of data, data resources such as analysts, and/or data technologies such as software, computing power, and storage. Yet data philanthropy is unlike other corporate philanthropy because data assets are non-rivalrous and can be shared without diminishment. Data can even become more valuable through sharing and collaboration. This paper explores data philanthropy and how it can benefit both donor firms and society through a model and several propositions. [ABSTRACT FROM AUTHOR]