How can B Corp be a prime tool in the shift from a shareholder to a stakeholder economy?

Details

Supervisors

del Marmol, Guibert

Faculty

Louvain School of Management

Degree label

Master [120] en sciences de gestion

Abstract

This master’s thesis addresses the overarching question: “How can the B Corp certification help the shift from a shareholder to a stakeholder economy?”. The purpose is to explore how B Corp can be one of the solutions to the problems of our current economic system, by influencing businesses to measure and create value for all its stakeholders instead of just the shareholders. First, we tackle main definitions and key concepts in the field of CSR, such as the fourth sector and hybrid organisations. We then analyse the certified B Corp in 3 steps: its background and B Lab, how it works, and a structured synthesis of the findings from all academic research on the subject. Finally, we perform qualitative field research with 5 interviews and a survey to help answer the question and add knowledge to the significant gaps in the academic literature. We find that B Corp has strong potential to successfully incorporate stakeholder interests into business. The main obstacles are that it is currently very little known and that it is not easily accessible to multinationals and publicly traded companies.