What impact does ownership have on building sustainable and responsible businesses?
|Professor Belén Villalonga||NYU Stern School of Business|
The research will first examine the range of ways in which for-profit companies can create shared value for a broad range of stakeholders, from incorporating corporate social responsibility practices to their existing strategy to having a social purpose embedded in their business model by design since the company’s inception. It will consider different categories of owners of corporations (and other legal forms of organization) around the world, how much equity they own and control on average (by country and/or industry) and how they own and control those companies. Finally, it will look into established empirical relations between owner types and sustainable / responsible business models or strategies. The second part of the project will be a descriptive empirical study of the relation between the various owner types and shared value creation in US publicly listed corporations between 1994 and 2016. These ownership data will then be matched to existing data (available publicly or privately) about firms’ environmentally and socially responsible behaviours to estimate statistically the relation between owner types and these behaviours.