Poetry in Action: From the Gift Economy to Corporate Philanthropists

The role of patronage has been widely examined in studies in different disciplines, from the arts to sociology. This paper adopts a novel interdisciplinary approach to investigate the relationship between patronage, corporate philanthropy, and the economic (and non-economic) returns for donors. In an ancient Latin literature perspective, the case study analyzes the literary works of Horace, master poet and noteworthy exemplum of cursus honorum and Latin patronage. Highlighting some pivotal poetic lines (from a managerial standpoint), the study proposes a patronage and gift economy framework as the building blocks for corporate philanthropy and corporate social responsibility actions. While patronage fosters the development of economic relationships, even if in a non-linear and multi-faceted way, corporate philanthropy promotes relationships aimed at achieving positive returns for the donor, be they economic or meta-economic, instantaneous or delayed. Although more difficult to capture through the usual cash inflow and outflow measurements, corporate philanthropy and corporate social responsibility express an elusive but valuable economic relationship. Therefore, this study offers some managerial insights for non-profit corporations and those industries – for example, sports – where the economic returns may not be a central element of the investment. Finally, it is noteworthy that Horace is, among other things, an author of great modernity for his tension, articulated and complex, towards the active events of his time. His rediscovery, not only in literary studies, has allowed to add to other disciplines the analysis of an intellectual, divided between art and current life. Keywords: Latin literature, patronage, corporate philanthropy, gift economy, non-financial performance