A broader corporate purpose? Evidence from UK public companies, 2000–2016

Andrea Patacconi, Anastasiya Shamshur, Pavlo Ulianiuk

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Abstract

This paper examines the extent to which corporate leaders have discursively embraced the logic of stakeholder theory. Using textual analysis of chairperson and CEO letters to shareholders of public companies in the UK during the 2000–2016 period, we find that, over time, attention to shareholders declined and attention to customers, society and CSR increased. These shifts were more pronounced during the financial crisis. Chairpersons and CEOs also appear to exhibit different loci of attention. Our findings indicate that corporate purpose did become “broader” in recent years; however, despite this trend, attention to employees did not increase.
Original languageEnglish
JournalEuropean Management Review
Early online date22 Jan 2025
DOIs
Publication statusE-pub ahead of print - 22 Jan 2025

Keywords

  • attention to goals and stakeholders
  • corporate purpose
  • stakeholder theory

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