Corporate Purpose in Play: The Role of ESG Investing
M-RCBG Faculty Working Paper Series, 2019-05
Draft chapter for 'Sustainable Investing: A Path to a New Horizon', Routledge, Forthcoming
28 Pages Posted: 19 Nov 2019
Date Written: November 7, 2019
The chapter is organized in three parts. The first briefly summarizes why the narrowly construed shareholder primacy doctrine simply hasn’t been an adequate conceptual foundation for the public corporation for some time. The second sketches out the rise of ESG investing, its performance, and its potential role in reinforcing corporate “re-purposing.” The third addresses potential impediments to the further rapid growth in ESG investing as well as moves to manage them – obstacles posed by traditional practices in the investment industry as well as by weaknesses in ESG itself. A brief conclusion wraps up the chapter.
Keywords: Corporate Purpose, ESG Investing, Shareholder-Stakeholder Dynamics
Suggested Citation: Suggested Citation