Stakeholder Governance: The Crucial Role of Corporate Governance in Safeguarding Stakeholders’ Interests

This article explores the shift in corporate governance from shareholder primacy to stakeholder-centric approaches, focusing on whether companies can authentically embrace stakeholder governance without significant changes to their governance frameworks.

It discusses voluntary initiatives like the 2019 Business Roundtable declaration and legal efforts in Europe to integrate stakeholder interests into corporate decision-making. Key questions include the likelihood of companies adopting stakeholder-centric approaches voluntarily and the future direction of corporate governance.

By exploring these themes, the article seeks to examine the challenges and opportunities inherent in promoting responsible business practices that prioritize the interests of all stakeholders, not just shareholders, and emphasizes the essential role that corporate governance plays in driving this shift.

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Author: Paula Graullera Castillejos

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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.