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Private social investment usually takes place through corporate foundations. This article analyzes how foundations shape a discourse to create a relationship with corporations and the society based on social responsibility. The discourse analysis method is used here to identify and understand how the company and the society are present in the discourse of six foundations. The analysis reveals that corporate foundations are not only the protagonists in the creation of social value, but they are also playing a strategic role in the company. This happens, fi rst, when these foundations dialogue with stakeholders, becoming a point of reference for the understanding of the necessities, interests and expectations of the society. Second, because they are an amplifi ed space for management, as the company is signifi cantly present in the discourse of foundations.

O discurso das fundações corporativas: caminhos de uma "nova" filantropia?