Which direction for stakeholder capitalism? Approaches and reporting towards POP accounting

Abstract

AbstractOur study uncovers the evolving landscape of stakeholder capitalism. This paradigm recognises the intrinsic value of capital among diverse stakeholders and underscores the importance of engaging them in the long‐term value‐generation process. Through bibliometric analysis, we explore the multifaceted nature of stakeholder capitalism, its historical evolution, and the current debates surrounding its implementation, particularly in social reporting and integrated performance representation. Our findings illuminate the growing emphasis on POP accounting as a potential bridge between traditional shareholder‐centric models and a more inclusive stakeholder‐oriented approach. POP accounting emerges as a vital tool for demystifying complex financial data, offering a transparent, accessible narrative that resonates with broader stakeholders. By integrating insights from various sectors and geographical regions, this paper sheds light on the practical implications of adopting POP accounting within stakeholder capitalism. It suggests it could catalyse a more democratic, transparent, and sustainable corporate governance framework. Our research contributes to the ongoing corporate responsibility and governance discourse, providing actionable insights for businesses, policymakers, and academics committed to fostering an equitable, stakeholder‐inclusive future.