Skip to Main Content
HBS Home
  • About
  • Academic Programs
  • Alumni
  • Faculty & Research
  • Baker Library
  • Giving
  • Harvard Business Review
  • Initiatives
  • News
  • Recruit
  • Map / Directions
Faculty & Research
  • Faculty
  • Research
  • Featured Topics
  • Academic Units
  • …→
  • Harvard Business School→
  • Faculty & Research→
Publications
Publications
  • 2014
  • Working Paper
  • HBS Working Paper Series

The Role of the Corporation in Society: An Alternative View and Opportunities for Future Research

By: George Serafeim
  • Format:Print
  • | Language:English
  • | Pages:28
ShareBar

Abstract

A long-standing ideology in business education has been that a corporation is run for the sole interest of its shareholders. I present an alternative view where increasing concentration of economic activity and power in the world's largest corporations, the Global 1000, has opened the way for managers to consider the interests of a broader set of stakeholders rather than only shareholders. Having documented that this alternative view better fits actual corporate conduct, I discuss opportunities for future research. Specifically, I call for research on the materiality of environmental and social issues for the future financial performance of corporations, the design of incentive and control systems to guide strategy execution, corporate reporting, and the role of investors in this new paradigm.

Keywords

Corporate Social Responsibility; Corporate Governance; Environment; Environmental And Social Sustainability; Sustainability; Sustainability Reporting; Sustainability Research; Sustainability Targets; Corporate Performance; Corporate Accountability; Corporate Social Responsibility and Impact

Citation

Serafeim, George. "The Role of the Corporation in Society: An Alternative View and Opportunities for Future Research." Harvard Business School Working Paper, No. 14-110, May 2014.
  • SSRN
  • Read Now

About The Author

George Serafeim

Accounting and Management
→More Publications

More from the Author

    • January 2023
    • Faculty Research

    Organizational Climate Transition Risk Model

    By: George Serafeim and Benjamin Maletta
    • January 9, 2023
    • Financial Times

    The Pursuit of Profit with Purpose Requires Patience

    By: George Serafeim
    • December 2022
    • Faculty Research

    Risks and Opportunities from the Transition to a Low Carbon Economy: A Business Analysis Framework

    By: George Serafeim
More from the Author
  • Organizational Climate Transition Risk Model By: George Serafeim and Benjamin Maletta
  • The Pursuit of Profit with Purpose Requires Patience By: George Serafeim
  • Risks and Opportunities from the Transition to a Low Carbon Economy: A Business Analysis Framework By: George Serafeim
ǁ
Campus Map
Harvard Business School
Soldiers Field
Boston, MA 02163
→Map & Directions
→More Contact Information
  • Make a Gift
  • Site Map
  • Jobs
  • Harvard University
  • Trademarks
  • Policies
  • Accessibility
  • Digital Accessibility
Copyright © President & Fellows of Harvard College