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Shareholder Influence on CSR: A Study of the Swedish Corporate Sector


  • Sjöström, Emma

    () (Department of Marketing & Strategy)


There is a growing expectation that shareholders can foster corporate social responsibility (CSR) through engagement activities. The aim of this study is therefore to explore the influence that shareholders have on corporations in terms of CSR. The study, which is set in Sweden, finds that corporations themselves do not perceive shareholders to have a significant direct influence on how they address CSR. At the same time, corporations find socially minded shareholders to be legitimate and important stakeholders. Corporations find that shareholders amplify general stakeholder pressure in the area of CSR, and that they can function as a catalyst for CSR by adding legitimacy to the work of CSR professionals. The one area where shareholders stand out as having a direct influence on CSR is with regard to corporate transparency and CSR reporting.

Suggested Citation

  • Sjöström, Emma, 2009. "Shareholder Influence on CSR: A Study of the Swedish Corporate Sector," SSE/EFI Working Paper Series in Business Administration 2009:13, Stockholm School of Economics, revised 04 Dec 2009.
  • Handle: RePEc:hhb:hastba:2009_013

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    References listed on IDEAS

    1. Yard, Stefan, 2004. "Costing fixed assets in Swedish municipalities: Effects of changing calculation methods," International Journal of Production Economics, Elsevier, vol. 87(1), pages 1-15, January.
    2. Jennergren, L. Peter, 1998. "A Tutorial on the Discounted Cash Flow Model for Valuation of Companies," SSE/EFI Working Paper Series in Business Administration 1, Stockholm School of Economics, revised 13 Dec 2011.
    3. Jennergren, L. Peter, 2004. "Continuing Value in Firm Valuation by the Discounted Cash Flow Model," SSE/EFI Working Paper Series in Business Administration 2004:15, Stockholm School of Economics.
    4. Jennergren, L. Peter, 2008. "Continuing value in firm valuation by the discounted cash flow model," European Journal of Operational Research, Elsevier, vol. 185(3), pages 1548-1563, March.
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    corporate social responsibility; CSR; socially responsible investment; shareholder activism; shareholder influence;

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