Topic: When Values Align: Corporate Philanthropy and Employee Turnover

Speaker: Christoph Schiller, Assistant Professor, The Ohio State Universit

Time: 10:00am-11:30am, April 16

Location: 4-101

Abstract:

This paper studies how alignment on social values affects employee retention and productivity. Using matched employee-employer data from LinkedIn and large natural disasters as exogenous demand shocks for corporate disaster relief, we show that corporate philanthropy reduces employee turnover by 5.9% to 7.8%, especially for employees with revealed pro-social preferences such as volunteering experiences and for female and younger employees. The effect is distinct from other CSR activities and cannot be explained by signals about firm performance. Our findings indicate that an alignment in values between workers and firms can increase employee commitment.

Speaker Biography:

Christoph Schiller joined the Fisher College of Business at The Ohio State University as an Assistant Professor of Finance in 2024 after serving as an Assistant Professor at the W.P. Carey School of Business at Arizona State University from 2019 to 2024. He earned his Ph.D. in Finance from the University of Toronto's Rotman School of Management in 2019. Professor Schiller also holds a M.Sc. in Industrial Engineering & Economics, with distinction and the best M.Sc. thesis award, from the Karlsruhe Institute of Technology (KIT) in Germany, as well as a B.Sc. in the same field from KIT.

Professor Schiller's research focuses on empirical corporate finance, with particular expertise in supply chain networks, sustainable finance, and the impact of social media on firms and markets. His work has been published in top finance journals such as the Review of Financial Studies, Management Science, and the Journal of Finance.

Professor Schiller's accomplishments have been widely recognized by both academics and practitioners. Most recently, his paper on "Climate Change Adaptation in Global Supply-Chains" was recognized as the Lead Article (Editor's Choice) in the Review of Financial Studies. His work has been cited in the Council of Economic Advisors' Annual Report for the President and has been awarded with the Pacific Center for Asset Management (PCAM) Grant for ESG Research and the International Centre for Pension Management (ICPM) Research Award. Professor Schiller has presented his research at major conferences worldwide and serves as a referee for leading journals in finance and related fields.