The promise of stakeholder capitalism: illusory or real?

London Business School's Centre for Corporate Governance (CCG) and the Financial Times teamed up on 5 October 2021 to host the webinar "The Promise of Stakeholder Capitalism: Illusory or Real?"

-Lucian Bebchuk, James Barr Ames Professor of Law, Economics, and Finance, and Director of the Program on Corporate Governance, Harvard Law School, and co-author of “The Illusory Promise of Corporate Governance,” “For Whom Corporate Leaders Bargain,” and “Will Corporations Deliver Value to All Stakeholders?”
-Alex Edmans, Professor of Finance and Academic Director, CCG, London Business School, and author of "Grow the Pie: How Great Companies Deliver Both Purpose and Profit"

-Gillian Tett, Chair of the Editorial Board and Editor-at-Large (US) of the Financial Times, and Co-Founder of FT Moral Money

In a debate between the two academics, Professor Bebchuk presented the view that, due to the structural incentives of corporate leaders, the promise of stakeholder capitalism is largely illusory; and external regulations would be necessary to address stakeholder concerns. By contrast, Professor Edmans argued that if and when stakeholder capitalism is done the right way, it can deliver substantial benefits for shareholders and society.

The virtual event was co-hosted by CCG and the Financial Times, in partnership with the Program on Corporate Governance, Harvard Law School. It is the second in a series of events on stakeholder capitalism with Lucian Bebchuk, Alex Edmans, and Gillian Tett. You can watch the first event here:

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