Stakeholder capitalism: a new perspective on corporate sustainability
Purpose How companies operating in Europe operationalize stakeholder capitalism as a strategic and governance framework for achieving corporate sustainability. Design/methodology/approach A qualitative, exploratory and descriptive study using twenty semi-structured interviews with executives and sustainability managers, triangulated with corporate sustainability reports. Data were analyzed thematically and taxonomically using NVivo. Findings Companies exhibit a hybrid model of implementation that blends regulatory compliance (Corporate Sustainability Reporting Directive, European Sustainability Reporting Standards, GRI) with relational proximity and trust-based engagement. Leadership plays a decisive role in translating normative commitments into strategic actions, while environmental, social and governance impact measurement remains limited and fragmented. Research limitations/implications The study advances stakeholder theory by conceptualizing stakeholder capitalism as a dynamic capability that integrates ethical, strategic and relational dimensions within governance systems. Practical implications Managers should institutionalize stakeholder engagement through governance mechanisms, cross-functional coordination and transparent reporting to strengthen resilience and trust. Originality/value This research contributes rare empirical evidence from a European context, reframing stakeholder capitalism as an organizational capability that reconciles ethics, performance and sustainability within complex regulatory environments.
Authors
- Leandro F. Pereira
- Álvaro Dias
- Cristiana Dias
Institutions
- Iscte – Instituto Universitário de Lisboa (PT)
Publication Details
- Journal
- Corporate Governance
- Published
- 2026-04-14
- DOI
- https://doi.org/10.1108/cg-11-2025-0925
- Primary Topic
- Corporate Social Responsibility Reporting
- Type
- article
- Field-Weighted Citation Impact
- 0.00