Business Research Hub seminars
What drives purpose from a congenial conversation to core strategic precepts?
Our research explores and deepens our work on corporate purpose, and how this translates into responsible business practice.
22 February 2019
Changing Conceptions of Corporate Purpose
Corporate Purpose Journey
Launched in 2016, in collaboration with the Beacon Institute EY Global, Abrar’s work explores what leading firms actually do when they 'do purpose’. Abrar will present initial findings from interviewing nearly 60 executives from six large firms to learn how they drive purpose into their day-to-day operations, long term strategy and decision-making. It is part of the broader responsible business research initiatives at Oxford to unpick the key issues in 21st century stakeholder capitalism and responsible leadership, in collaboration with corporate partners and in the service of world-leading executive education.
8 March 2019
Mutual Fund Voting on Environmental and Social Proposals
Bige Kahraman Alper, Associate Professor of Finance
Over the 2004 – 2016 period there have been over 1,600 shareholder proposals related to environmental and social (ES) issues, with slightly more than half sponsored by asset management companies. In recent years, ISS has supported about 60% of these proposals, yet support among mutual funds is less than 20%. Funds with a focus on factors other than long-term value maximization contribute to this difference. Mutual funds that are less myopic and that are less influenced by management recommendations are more likely to vote for ES proposals, especially those sponsored by asset management companies. Despite apparent biases within some funds, overall mutual fund support is informative regarding ES risks. Consistent with virtually none of these proposals passing and managers not voluntarily adopting the initiatives, higher mutual fund support for ES proposals predicts deterioration in ES scores and extreme negative returns over the following years.
The Inclusive Capitalism Seminars ran between February 2017 and May 2018. Renamed the Business Research Hub Seminars in Autumn 2018, the series has expanded to include speakers working on Responsible Business Initiatives.