In Defense of Capitalism: Modern Slavery Would Be Much Worse Without It

Some scholars blame capitalism for the prevalence of modern slavery. However, data reveal that it is wrong to blame capitalism for a problem that long preceded it and would likely be much worse without it. We explain why this is the case.

Stakeholder Engagement: Past, Present, and Future

Stakeholder engagement has grown into a widely used yet often unclear construct in business and society research. The literature lacks a unified understanding of the essentials of stakeholder engagement, and the fragmented use of the stakeholder engagement construct challenges its development and legitimacy. The purpose of this article is to clarify the construct of stakeholder engagement to unfold the full potential of stakeholder engagement research. We conduct a literature review on 90 articles in leading academic journals focusing on stakeholder engagement in the business and society, management and strategy, and environmental management and environmental policy literatures. We present a descriptive analysis of stakeholder engagement research for a 15-year period, and we identify the moral, strategic, and pragmatic components of stakeholder engagement as well as its aims, activities, and impacts. Moreover, we offer an inclusive stakeholder engagement definition and provide a guide to organizing the research. Finally, we complement the current understanding with a largely overlooked dark side of stakeholder engagement. We conclude with future research avenues for stakeholder engagement research.

Demystifying Essays as an “A-Typical” Publication Format

Essays as an “a-typical” publication format is an unhelpful narrative emerging in some business schools. In response, I demonstrate that essays have both intrinsic and extrinsic worth in advancing knowledge and having “impact” on practice and policy.

Useful Servant or Dangerous Master? Technology in Business and Society Debates

This review argues that the role of technology in business and society debates has predominantly been examined from the limited, narrow perspective of technology as instrumental, and that two additional but relatively neglected perspectives are important: technology as value-laden and technology as relationally agentic. Technology has always been part of the relationship between business and society, for better and worse. However, as technological development is frequently advanced as a solution to many pressing societal problems and grand challenges, it is imperative that technology is understood and analyzed in a more nuanced, critical, and comprehensive way. The two additional perspectives invite a broader research agenda, one that includes questions, such as “Which values and whose interests has technology come to emulate?”; “How do these values and interests play out in stabilizing the status quo?”; and, importantly, “How can it be contested, disrupted, and changed?” Any research that endorses green, sustainable, environmental, or climate mitigating technologies potentially contributes to maintaining the very thing that it seeks to change if questions such as these are not being addressed.

Moral Intensity, Perceived Impacts, and Task Motivation: Evidence From Volunteers

Although work tasks often address substantive social issues, the effects of issue characteristics on task motivation are little understood. This study explores this topic by examining how the moral characteristics of an issue (moral intensity) affect motivation in tasks intended to address the issue (task motivation). Adopting the lens of work design theory, I hypothesize that moral intensity increases task motivation through the mediation of perceived task impacts on the community (perceived community impacts), and that this effect will occur after controlling for the effects of perceived task impact on the worker and their organization. In two studies in the context of volunteering I find that, rather than acting in parallel with other task impacts, the effect of moral intensity through perceived community impacts is fully mediated by perceived organization and self impacts in a three-stage mediation. These findings demonstrate the potential relevance of issue characteristics such as moral intensity to work design theory and shed new light on the psychological mechanisms through which perceived prosocial impacts promote task motivation. I discuss implications for research and practice.

Meaningfulness and Impact of Academic Research: Bringing the Global South to the Forefront

Alongside scholarly and societal dimensions of research impact, the meaningfulness of research, emerging from the link to context, is crucial. Authentic inclusion of Global South scholars based in the Global South aids these objectives.

Majority-Minority Boards of Directors and Decision Making: The Effects of Homophily on Lending Decisions

In this study, I examine the role racial minorities in the boardroom can play in reducing social injustice by promoting more equal access to mortgage credit to minority households. I develop a simple theoretical model that posits directors who are racial minorities provide the credit unions they govern with a perspective that shapes lenders’ trust of minority applicants. This trust is shaped by homophily and the tendency of individuals to prefer interactions with similar individuals. Using mortgage loan data from a cross-section of credit unions in the United States from 185,446 applications, I find that credit unions where the majority of board members are minorities are less likely to reject a similarly qualified minority applicant than their counterparts. Governance by minority directors significantly reduces the effects of discrimination faced by minority applicants. The board’s effect is strongest in minority neighborhoods and where the homophily is stronger between directors and applicants.

What We Talk About When We Talk About Stakeholders

Will stakeholder theory continue to transform how we think about business and society? On the occasion of this journal’s 60th anniversary, this review article examines the journal’s role in shaping stakeholder theory to date and suggests that it still has transformative potential. We conducted a bibliometric analysis of co-citations in the literature from 1984 to 2020. Reporting these results, we examine the field’s evolving structure. Contextualized theoretically as an accomplishment of institutional work—the creation of a meaningful and innovative field ideology—this structure is remarkable for how it integrates ethical and behavioral arguments, invites engagement from adjacent domains, and arrives at important insights for business and society. We advance a research agenda consistent with this larger institutional project.

Why the Super-Rich Will Not Be Saving the World: Philanthropy and “Privatization Creep” in Global Development

Under multistakeholderism, private philanthropic foundations have played an increasingly influential role in global development. As part of which, foundations have promoted what we call “privatization creep” (i.e., mainstreaming market-centric solutions to development). Sidelining redistributive approaches altogether, “privatization creep” favours profit-making over everything else, doing little to “save the world.”

Broad or Narrow Stakeholder Management? A Signaling Theory Perspective

To mitigate risk, should companies signal a broad range of environmental, social, and governance (ESG) initiatives or instead focus on only a few ESG issues? Drawing on signaling theory, we propose that a broad array of ESG initiatives generates not only signal consistency but also accelerating signal costs. Our empirical results support the resultant hypothesis of a curvilinear relationship between ESG scope and equity risk. In addition, this U-shaped curve seems to become steeper when firms face multiple media-reported ESG controversies. Overall, our study qualifies the conventional wisdom that firms can reduce equity risk by attending to a wide variety of stakeholders and highlights the moderating (signal-amplifying) impact of the firm’s media environment.