The role of the corporation in society
Subtitle: an alternative view and opportunities for future research
By: George Serafeim
Contributors: Harvard Business School
Series: Working paper / Harvard Business School -- 14-110; Working paper (Harvard Business School) -- 14-110.
Publisher: Harvard Business School
Published: 2014
Place of publication: Boston]
Language: eng
Number of pages: 27
Description: A long-standing ideology in business education has been that a corporation is run for the sole interest of its shareholders. I present an alternative view where increasing concentration of economic activity and power in the world's largest corporations, the Global 1000, has opened the way for managers to consider the interests of a broader set of stakeholders rather than only shareholders. Having documented that this alternative view better fits actual corporate conduct, I discuss opportunities for future research. Specifically, I call for research on the materiality of environmental and social issues for the future financial performance of corporations, the design of incentive and control systems to guide strategy execution, corporate reporting, and the role of investors in this new paradigm.
Notes: "May 2014" -- Publisher's website.

Includes bibliographical references (pages 20-22).