Judith Stroehle

Judith Stroehle

Research Fellow

Saïd Business School
University of Oxford
Park End Street


Judith's work focuses on how companies and investors construct and implement measurement systems for long-term value creation, impact assessment and responsible business behaviour.

Judith is a Research Fellow at Saïd Business School, working within the school’s Business Research Hub. She is a lead researcher on the Oxford Said Initiative on Rethinking Performance (OSIRP) and works within the Mars-Oxford Mutuality in Business project.  Coming from a background of economics and sociology, Judith is especially interested in examining the construction and meaning of social, economic and governance measures and their impact on the effectiveness of companies’ and investors activities which aim at long-term and sustainable value.

As part of OSIRP, Judith works with a consortium of companies and investors around questions of how to conceptualize and measure new forms of long-term value creation, and how to integrate these into current forms of performance measurement. Modern, prudent and long-term oriented companies and investors need to understand and demonstrate how they create (and destroy) value beyond financials. In other words, consider how profit is earned, not just how much is earned. OSIRP works with these actors to learn what it requires to take into account both positive and negative social and environmental externalities / impacts and dependencies that are produced by companies’ operations. This work builds on the assessment of elements of social construction of and the dominant logics existing in the measurements of ESG, SRI and corporate purpose.

As part of the Mars-funded Mutuality in Business project, Judith’s current research is focussed on capturing the impact of multiple capital accounting systems on management practices, processes and organisational mechanisms and examines how it ties into firm long-term performance and success. In related projects, she is involved in focussing specifically on the role of and importance of corporate boards for the achievement of purpose-led business behaviour. Finally, Judith works with a variety of non-governmental and multilateral institutions (such as the Value Balancing Alliance, Impact Management Project, and others) on questions around standardization and assurance in the non-financial and impact measurement space.

Judith also collaborates in projects which examine the economic impact of social certification (such as SA8000) and the effectiveness of global governance mechanisms in addressing grand challenges. This work builds on her dissertation (U Milan, Italy), where she – in cooperation with the ILO – examined the institutional and governance conditions of effectiveness of labour regulating multi-stakeholder institutions in global value chains. In this work, she also extensively engaged with the problems of social audits and related systems of monitoring.

Judith achieved her MA and BA in sociology and economics from Germany and Canada. Before re-entering academic research, Judith worked in the industry as an International Relations Manager and acted as a consultant for companies on projects surrounding strategic corporate analyses, predictive modelling and sales intelligence.


  • ESG and Non-financial Measurement
  • Sustainable Finance
  • Social and Environmental Accounting
  • Social Auditing
  • Corporate Governance
  • Sustainability
  • Global Supply Chains

See Judith's CV.


How to Measure Performance in a Purposeful Company? Analysing the Status Quo

  • Journal article
  • Proceedings of the British Academy
  • Judith C Stroehle,
  • Kazbi Soonawalla,
  • Marcel Metzner

The Social Origins of ESG: An Analysis of Innovest and KLD(opens in new window)

  • Journal article
  • Robert G Eccles,
  • Linda-Eling Lee,
  • Judith C Stroehle

Integrating Frameworks for Multi-Capital Accounting, Reporting and Valuation

  • Journal article
  • Judith C Stroehle,
  • Sudhir Rama Murthy

The enforcement of diverse labour standards through private governance: an assessment(opens in new window)

  • Journal article
  • Judith Christina Stroehle
  • Greg Distelhorst,
  • Judith Stroehle,
  • Duanyi Yang
See more publications


Judith actively engages with companies and investors around topics of non-financial measurement, implementation of purpose and creation of long-term value. Current research partnerships exist with, for example, Hermes EOM, Aegon Asset Management and Mars, Inc. She additionally engages with NGOs and other institutional organizations on questions of standardization and assurance. The Economics of Mutuality Foundation, the Value Balancing Alliance and the Impact Management Project are important partners in this space. Judith also offers trainings in the area of “ESG for investment managers” and “ESG for corporate reporting”.