{"id":22245,"date":"2024-05-20T06:59:01","date_gmt":"2024-05-20T06:59:01","guid":{"rendered":"https:\/\/journals.amssr.org\/grjbm\/?p=22245"},"modified":"2024-05-20T07:09:38","modified_gmt":"2024-05-20T07:09:38","slug":"the-importance-of-stakeholder-capitalism-in-corporate-sustainability","status":"publish","type":"post","link":"https:\/\/journals.amssr.org\/grjbm\/2024\/05\/20\/the-importance-of-stakeholder-capitalism-in-corporate-sustainability\/","title":{"rendered":"The Importance of Stakeholder Capitalism in Corporate Sustainability\u00a0"},"content":{"rendered":"\n
<\/div>\n\n\n\n

Abstract<\/strong><\/h2>\n\n\n\n

Research Purpose:<\/strong> In a world grappling with climate change and social inequality, businesses face increasing pressure to operate sustainably. This study explores stakeholder capitalism as a potential driver of enhanced corporate performance, examining whether inclusive decision-making processes translate into tangible benefits.<\/p>\n\n\n\n

Methodology:<\/strong> This research undertakes a comprehensive review of existing literature on stakeholder capitalism and its impact on business performance.<\/p>\n\n\n\n

Findings:<\/strong> The review reveals that engaging stakeholders in decision-making fosters a sense of value and belonging within these stakeholder groups. This heightened sense of inclusion translates into increased commitment and dedication to the company’s success, ultimately driving improved performance.<\/p>\n\n\n\n

Conclusion:<\/strong> Stakeholder capitalism offers a compelling framework for achieving both corporate sustainability and enhanced performance. By prioritising the interests of all stakeholders, businesses can create a virtuous cycle of shared value and collective prosperity.<\/p>\n\n\n\n

Key words<\/em><\/strong>: Capitalism, Company, Performance, Stakeholders, Sustainability.<\/p>\n\n\n\n

References<\/strong><\/h2>\n\n\n\n

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Bethechange.com (2016). Marketing Myths: The Truth Behind Social Purpose Brand Campaigns. Retrieved from: https:\/\/bthechange.com\/marketing-myths-the-truth-behind-social-purpose-brand-campaigns-8f84dec6741d<\/p>\n\n\n\n

Chen, C. (2020). 35 places to shop for gifts that give back. Retrieved from: https:\/\/www.businessinsider.com\/guides\/gifts\/companies-that-give-back?r=US&IR=T<\/p>\n\n\n\n

D’Souza, D. (2022). What Is Stakeholder Capitalism? Investopedia. Retrieved from: https:\/\/www.investopedia.com\/stakeholder-capitalism-4774323#:~:text=Stakeholder%20capitalism%20is%20a%20system,%2C%20shareholders%2C%20and%20local%20communities.<\/p>\n\n\n\n

Fortuna, F., Ciaburri, M., Testarmata, S., & Tiscini, R. (2020). CSR reporting and ownership structure: Evidence from Italian listed companies. Corporate Ownership & Control, 17(3), 146-157. https:\/\/doi.org\/10.22495\/cocv17i3art11<\/p>\n\n\n\n

Goswami, S., & Bhaduri, G. (2023). Communicating Moral Responsibility: Stakeholder Capitalism, Types, and Perceptions. Sustainability, 15(5), 4386. https:\/\/doi.org\/10.3390\/su15054386 <\/p>\n\n\n\n

JUST Capital (2019). A Roadmap for Stakeholder Capitalism: 2019 Survey Results. Retrieved from: https:\/\/justcapital.com\/reports\/roadmap-for-stakeholder-capitalism\/<\/p>\n\n\n\n

LDC (2023). Our Approach. Retrieved from: https:\/\/www.ldc.com\/sustainability\/our-approach\/<\/p>\n\n\n\n

Littenberg, M. R., Oldshue, E. J., & Pifer, B. N. (2020, August 31). Delaware public benefit corporations \u2013 Recent developments (Harvard Law School Forum on Corporate Governance). Retrieved from https:\/\/corpgov.law.harvard.edu\/2020\/08\/31\/delaware-public-benefit-corporations-recent-developments\/<\/p>\n\n\n\n

Mhlanga, D. (2023). Stakeholder Capitalism, the Fourth Industrial Revolution (4IR), and Sustainable Development: Issues to Be Resolved. Sustainability, 14(7):3902. https:\/\/doi.org\/10.3390\/su14073902<\/p>\n\n\n\n

Paine, L. S. (2023). What Does \u201cStakeholder Capitalism\u201d Mean to You? Retrieved from: https:\/\/hbr.org\/2023\/09\/what-does-stakeholder-capitalism-mean-to-you<\/p>\n\n\n\n

Spak, W., & Lynd, J. (2021). The Rise of Stakeholder Capitalism. Retrieved from: https:\/\/www.whitecase.com\/insight-our-thinking\/rise-stakeholder-capitalism<\/p>\n\n\n\n

Strine, L., & Zwillinger, J. (2020, September 10). What Milton Friedman missed about social inequality. The New York Times. Retrieved from https:\/\/www.nytimes.com\/2020\/09\/10\/business\/dealbook\/milton-friedmaninequality.html<\/p>\n\n\n\n

The Investopedia Team (2023). Agency Theory vs. Stakeholder Theory: What’s the Difference? Retrieved from: https:\/\/www.investopedia.com\/ask\/answers\/031615\/whats-difference-between-agency-theory-and-stakeholder-theory.asp<\/p>\n\n\n\n

US Securities and Exchange Commission (2023). Environmental, Social and Governance (ESG) Investing. Retrieved from: https:\/\/www.investor.gov\/introduction-investing\/investing-basics\/glossary\/environmental-social-and-governance-esg-investing<\/p>\n\n\n\n

Wong, K. (2019). How to Be a More Conscious Consumer, Even If You\u2019re on a Budget. New York Times. Retrieved from: https:\/\/www.nytimes.com\/2019\/10\/01\/smarter-living\/sustainabile-shopping-conscious-consumer.html<\/p>\n\n\n\n

Wright, T. (2023). What Is Stakeholder Theory? Benefits, Challenges & Application. Retrieved from: https:\/\/www.cascade.app\/blog\/stakeholder-theory<\/p>\n","protected":false},"excerpt":{"rendered":"

Abstract Research Purpose: In a world grappling with climate change and social inequality, businesses face increasing pressure to operate sustainably. This study explores stakeholder capitalism as a potential driver of enhanced corporate performance, examining whether inclusive decision-making processes translate into tangible benefits. Methodology: This research undertakes a comprehensive review of existing literature on stakeholder capitalism and its impact on business performance. Findings: The review reveals that engaging stakeholders in decision-making fosters a sense of value and belonging within these stakeholder […]<\/p>\n","protected":false},"author":1,"featured_media":21662,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,180,179],"tags":[163,182,181],"class_list":["post-22245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-grjbm","category-vol-4-issue-1","category-volume-4","tag-chiemelie-benneth-iloka","tag-grace-ifeoma-anukwe","tag-kenechi-john-onyeke"],"_links":{"self":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts\/22245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/comments?post=22245"}],"version-history":[{"count":1,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts\/22245\/revisions"}],"predecessor-version":[{"id":22247,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts\/22245\/revisions\/22247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/media\/21662"}],"wp:attachment":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/media?parent=22245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/categories?post=22245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/tags?post=22245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}