The Rise of Stakeholder Governance and Diversity, and Consequences on Executive and Board Careers

Abstract

The role of corporate leaders has changed vastly in the past few decades. In particular, the past decade has been marked by the rise of stakeholder pressures from activist shareholders looking to extract shareholder value, social activists seeking social participation, and increasing consumer and media attention on corporate leaders. As societal issues have gained recognition and stakeholders are increasingly powerful in governance, organizations and their leaders are held to a level of accountability never seen before in new areas including stakeholder governance and diversity. Corporate leaders are more diverse than they have been in the past, expected to be attune to stakeholder pressures, and presumably more capable of promoting a social agenda within their own organizations. The symposium seeks to understand how increasing pressures from stakeholders, as well as ensuing calls for diversity in the business elite have affected organizational decisions concerning the careers of corporate leaders. The studies explore the interplay of these newer societal pressures on organizations and uncover the degree of accountability imposed on their corporate leaders. How symbolic capital reduces negative spillovers for corporate directors Presenter: Seok-Hyun (Stephen) Hwang; Hong Kong Baptist U. Presenter: Edward J. Zajac; Northwestern U. How Decision Makers’ career histories impact the Gender diversity of CEO successor candidate pool Presenter: Andre Havrylyshyn; Darla Moore School of Business, U. of South Carolina Presenter: Donald Joseph Schepker; U. of South Carolina Regulatory violations of stakeholder rights and verbal displays of CEO value: Effects on dismissal Presenter: Daniel Zyung; Southern Methodist U. Presenter: Wei Shi; U. of Miami Class-based performance? How social class background influences performance and CEO career outcomes Presenter: Michelle K. Lee; Smith School of Business, Queen's U. Presenter: Shelby Gai; Michigan State U.