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How to Develop ‘Credible Commitment’ to Corporate Stakeholders

How to Develop 'Credible Commitment' to Corporate Stakeholders

 Lisa Fairfax, Presidential Professor at the University of Pennsylvania Carey Law School and co-director of the Institute for Law & Economics, shares her thoughts on the push-and-pull that surrounds the concept of stakeholderism—how it counterbalances the notion that businesses are purely meant to make a profit, why its support seems to wax and wane, and why corporations really are part of the solution of society’s biggest challenges.

  • What is the difference between shareholder capitalism and stakeholderism?
  • Why does the support for stakeholderism among business leaders ebb and flow?
  • What are some of the most impactful examples of ‘credible commitment’ to stakeholderism?
  • How supporting stakeholders and seeking profit are not mutually exclusive

To read Lisa’s article, “Stakeholderism, Corporate Purpose, and Credible Commitment,” please visit And to get a copy of her book Shareholder Democracy: A Primer on Shareholder Activism and Participation, please visit Carolina Academic Press at

Lisa will be a keynote speaker at the 2023 ESG Virtual Forum, held on September 26-27. To register for that event, please visit Members of the Business Ethics Leadership Alliance can get up to five free passes to the ESG Virtual Forum, so please contact your engagement director to learn more.