A measure of the evolution of the company?s orientation toward its primary stakeholders

• Tipo: Artigo em Revista Científica Internacional
• Data: 2022-12

Autores

Carlos Alves (Autor) FEP

Revista

Título: Finance Research Letters

Vol. 50

ISSN: 1544-6123

Editora: Elsevier

Indexação

ISI Web of Knowledge - 3 Citações

Scopus - 3 Citações

Outras Informações

ID Authenticus: P-00W-ZPK

DOI: 10.1016/j.frl.2022.103215

Abstract (EN): In recent years, many have argued for a greater orientation of companies toward defending the interests of their various stakeholders, and many firms have proclaimed their adherence to stakeholder capitalism. However, there is not a single measure that can objectively quantify the orientation of companies. This paper proposes metrics to capture the evolution of the primary stakeholder focus. An empirical application to ESG-rated European companies concludes that, in 2013-2021, companies seemed to move toward a greater focus on shareholders' interests to the detriment of a greater co-determination with employees' interests. Covid19 and the social capital of companies have attenuated this orientation.

Idioma: Inglês

Tipo (Avaliação Docente): Científica

Nº de páginas: 7