On the 2019 Business Roundtable “Statement on the Purpose of a Corporation”
Bibliographic record
Abstract
The Business Roundtable, a large group of top CEOs, recently issued a statement defining the purpose of the corporation in stakeholder terms, a direct and intended reversal from an earlier statement that defined the duty of directors as serving the interests of stockholders. In this editorial, we briefly describe the major twists and turns in the stockholders-versus-stakeholders debate that make this statement so significant to management theory and practice. We then describe the implications of the statement for scholars and practicing managers. We end with a description of three specific research topics that require more research in light of this statement: firm boundaries, the nature of value creation systems, and theory regarding the destruction of stakeholder value.
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.007 | 0.028 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.002 | 0.001 |
| Science and technology studies | 0.006 | 0.005 |
| Scholarly communication | 0.010 | 0.003 |
| Open science | 0.002 | 0.002 |
| Research integrity | 0.014 | 0.023 |
| Insufficient payload (model declined to judge) | 0.007 | 0.005 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".