Stakeholder capitalism

    ESG & Governance

    The view that companies should serve the interests of all their stakeholders, not only shareholders.

    Under stakeholder capitalism, a company's purpose includes creating value for employees, customers, suppliers, communities and the environment, as well as for shareholders. Supporters argue this leads to more durable long-term value. Critics argue it blurs accountability, because managers who answer to everyone can end up answering to no one. The idea is the opposite end of the debate from shareholder primacy, and it underlies much of the "S" in ESG.

    Related terms

    Shareholder primacyStakeholderESG (environmental, social and governance)

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