2/16/2024 0 Comments Laurence d fink and 2008![]() It will remain exposed to activist campaigns that articulate a clearer goal, even if that goal serves only the shortest and narrowest of objectives. It will succumb to short-term pressures to distribute earnings, and, in the process, sacrifice investments in employee development, innovation, and capital expenditures that are necessary for long-term growth. ![]() It will ultimately lose the license to operate from key stakeholders. “Without a sense of purpose, no company, either public or private, can achieve its full potential. ![]() He argued that a sense of social responsibility eventually drives a company’s bottom line. But few companies have put it on the list of actionable items, often due to a lack of immediate incentives. It has been floating around in the business world for years, coined into terms like ESG (environmental, social and governance), impact investing and so on. The concept of corporations’ social responsibility isn’t new. As a result, society increasingly is turning to the private sector and asking that companies respond to broader societal challenges,” Fink wrote. “We also see many governments failing to prepare for the future, on issues ranging from retirement and infrastructure to automation and worker retraining. The message is a “lightening rod” for the asset management industry, Jeffrey Sonnenfeld, a senior associate dean at the Yale School of Management, told the New York Times.įink’s advocacy is spurred by two broad trends in today’s world: 1) governments are increasingly dysfunctional in solving social and economic problems, as seen by the widening wealth gap since the 2008 financial crisis and 2) investors increasingly shift from high-cost active funds to passive, index-based investment products.
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