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Reflections on the roles of governance and leadership in profit-for-purpose companies: A European–United States comparative perspective

Author

Listed:
  • Victoravich, Lisa M.
  • Hamilton, Aimee L.
  • Kim, Sung Soo
  • Cohen, N. Andrew

Abstract

The profit-for-purpose movement has gained traction worldwide, with companies designating the second mission dedicated to a social purpose legislatively or by becoming a certified B Corp. This study reflects on the governance structure and associated accountability enacted by legislation in three countries where national legislation exists – the United States, Italy, and France. It also discusses accountability stemming from the B Corp certification. Given the limitations in accountability deriving from a governance structure or the B Lab certification, the paper reflects on the importance of leadership for the successful management of profit-for-purpose ventures and provides exemplars. We conclude by reflecting on the future of profit-for-purpose companies considering the recent environmental, social, and governance (ESG) movement and directions for future research examining key issues for dual-purpose companies.

Suggested Citation

  • Victoravich, Lisa M. & Hamilton, Aimee L. & Kim, Sung Soo & Cohen, N. Andrew, 2023. "Reflections on the roles of governance and leadership in profit-for-purpose companies: A European–United States comparative perspective," European Management Journal, Elsevier, vol. 41(3), pages 337-344.
    • Handle: RePEc:eee:eurman:v:41:y:2023:i:3:p:337-344
    DOI: 10.1016/j.emj.2023.05.002
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