Purpose

The Economics of Higher Purpose

We develop a theory of how the intersection of business goals and the pursuit of ?higher purpose?? something that produces a non-pecuniary social...

Purpose Proposals

Repurposing the corporation is the hot issue in corporate governance. Commentators, investors and increasingly issuers, maintain that corporations...

Varieties of Shareholderism: Three Views of the Corporate Purpose Cathedral

This Chapter seeks to make three modest contributions by offering views of the corporate purpose cathedral that bear on the role of law in it. These views...

Higher Purpose, Banking and Stability

This paper provides survey evidence on higher purpose for individuals and organizations and develops a theoretical model consistent with the...

What is Wrong with Corporate Law? The Purpose of Law and the Law of Purpose

This article argues that corporate purpose should be put at the heart of corporate law. It addresses the objections to this that there is little that...

Stakeholder Capitalism in the Time of COVID

This Article tests the claims of supporters of stakeholder capitalism (“stakeholderism”) in the context of the COVID pandemic. Supporters of...

Will Corporations Deliver Value to All Stakeholders?

Supporters of stakeholder governance advocate relying on corporate leaders to use their discretion to protect stakeholders, and they seem to take...

The Purposive Transformation of Corporate Law

What is the purpose of a corporation? This fundamental question is as old as corporate law itself and traditionally it is asked with reference to the...

Corporate Purpose: Theoretical and Empirical Foundations/Confusions

Does it matter if corporate leaders pursue a broader, social corporate purpose rather than a narrow, shareholder-centric one, and can legal and...

Personal and Organizational Higher Purpose, Corporate Governance and Shareholder Value: Survey Results

This paper reports the findings of a recent survey of 1019 individuals to learn about their commitment to and perceived value from personal and...

In this paper, I analyse the main trade-offs between the economic value of the firm and its social value exploring how they are solved through corporate...

The Governance of Corporate Purpose

This paper was written for a Festschrift in honour of Rolf Skog. Concepts of corporate purpose which have risen to the fore recently emphasize a point...