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The ascendancy of stakeholder capitalism: What is its meaning for corporate governance?
Journal of General Management Pub Date : 2021-06-30 , DOI: 10.1177/0306307020982132
Thomas A. Hemphill 1 , Keith E. Kelley 1 , Francine Cullari 1
Affiliation  

We address the recent ascendancy of “stakeholder capitalism” and its potential impact on US corporate governance practice. Utilizing a four dimensional, analytic framework (legal, ethical, economic, and political), the authors evaluate the potential effects of stakeholder capitalism on the existing corporate governance of companies, concluding that stakeholder capitalism is a commitment, not a legal requirement; it is currently being practiced in boardrooms; and yet it is not the responsibility of the company, under stakeholder capitalism, to solve America’s social issues. The article concludes with business policy recommendations for directors concerning likely legal, ethical, economic, and political changes affecting stakeholder capitalism.



中文翻译:

利益相关者资本主义的优势:它对公司治理的意义是什么?

我们讨论了“利益相关者资本主义”最近的兴起及其对美国公司治理实践的潜在影响。作者利用四个维度的分析框架(法律、道德、经济和政治)评估了利益相关者资本主义对现有公司治理的潜在影响,得出的结论是利益相关者资本主义是一种承诺,而不是法律要求;目前正在董事会中实施;然而,在利益相关者资本主义下,解决美国的社会问题并不是公司的责任。文章最后为董事提供了有关可能影响利益相关者资本主义的法律、道德、经济和政治变化的商业政策建议。

更新日期:2021-06-30
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