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

22 Pages Posted: 12 Jul 2021

See all articles by Andrea Patacconi

Andrea Patacconi

University of East Anglia (UEA) - Norwich Business School

Anastasiya Shamshur

University of Kent

Pavlo Ulianiuk

University of East Anglia (UEA), Norwich Business School, Students

Date Written: July 07, 2024

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 FTSE 350 companies 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. We discuss the implications of our findings for corporate governance and debates about the purpose of the corporation.

Keywords: Corporate purpose, stakeholder theory, attention to goals and stakeholders

JEL Classification: L21

Suggested Citation

Patacconi, Andrea and Shamshur, Anastasiya and Ulianiuk, Pavlo, A broader corporate purpose? Evidence from UK public companies, 2000-2016 (July 07, 2024). Available at SSRN: https://ssrn.com/abstract=3882249 or http://dx.doi.org/10.2139/ssrn.3882249

Andrea Patacconi (Contact Author)

University of East Anglia (UEA) - Norwich Business School ( email )

Norwich
NR4 7TJ
United Kingdom

Anastasiya Shamshur

University of Kent ( email )

Sibson
Canterbury, Kent CT2 7NZ
United Kingdom

Pavlo Ulianiuk

University of East Anglia (UEA), Norwich Business School, Students ( email )

Norwich
United Kingdom

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
68
Abstract Views
541
Rank
716,797
PlumX Metrics