Stakeholder Engagement

Gerry Brown () and Randall S. Peterson ()
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Randall S. Peterson: London Business School

Chapter 12 in Disaster in the Boardroom, 2022, pp 183-206 from Springer

Abstract: Abstract We argue that effective stakeholder engagement can play a very important role in reducing or preventing the six board dysfunctions. The distinction is drawn between stakeholder engagement and governance, the latter usually involving direct board representation by employees, customers and so on. We explain the practical barriers to engagement including that some stakeholders lack the necessary knowledge and experience to contribute effectively to making difficult board decisions and the very real practical difficulty of balancing the different interests of the various stakeholders. We highlight research evidence demonstrating that effective stakeholder engagement can help to increase the performance of companies and contribute to increased shareholder value. The recent growing interest by investors in Environmental, Social and Corporate Governance (ESG) and the board performances by companies in that respect is particularly noteworthy.

Keywords: Stakeholder engagement; Shareholder value; ESG; Environmental; Social and Corporate Governance (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-91658-9_12

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DOI: 10.1007/978-3-030-91658-9_12

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