Abstract and keywords

Loftur Atli Eiríksson: Abstract: The Culture of Business
Neo Liberalism, privatization and New Public Management (NPM) had major impact on government policy towards funding of arts and culture in Iceland from 2002 to 2008. The government encouraged businesses to support art and culture through sponsorships and made demands on public art and cultural institutions to increase their private revenues. Art and cultural institutions enjoy an aura of dignity and trust and large corporations saw fit to collaborate with them under the notion of corporate social responsibility (CSR) in order to brand public space and fortify their own image. This disposition is here called “the culturalization of business”. The research investigates the impact of business sponsorships on Icelandic cultural institutions from 2002 to 2008. The focus is particularly on two relatively large players: Landsbanki Íslands and Landsvirkjun and how these corporations used art and culture sponsorships to further their marketing strategies by linking their image to Icelandic national identity and heritage.
Keywords: Art and cultural institutions, corporate social responsibility, cultural capital, branding, privatization, sponsorship.
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