Category: ETFs
Academics look at signatories to Business Roundtable’s push on ‘stakeholderism’ Academics look at signatories to Business Roundtable’s push on ‘stakeholderism’ Academics look at signatories to Business Roundtable’s push on ‘stakeholderism’
You know, there are some things I would like to be wrong about. When I wrote about the battle of stakeholderism in June, I finished with a throwaway line: “And in some, this being 21st century USA, there is merely a cynical ‘adoption’ of a set of principles in order to prevent real change from happening.”
I did not realise how right I was.
‘Do the Socially Responsible Walk the Talk?’, written by Aneesh Raghunandan, an assistant professor of accounting at the London School of Economics and Shivaram Rajgopal, a professor of accounting and auditing at Columbia Business School was published in May this year.
It found that the BRT signatories, compared to their peers, committed more environmental and labour-related compliance violations, and paid more in compliance penalties. They had higher market shares, potentially signifying anti-competitive behaviour. They also spent more on lobbying policymakers and had worse performance.
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