A report finds most of those companies whose CEOs signed the lofty commitment didn't follow through.
, a group of researchers, found that companies that signed the Business Roundtable guidelines did not outperform S&P 500 peers in more than a dozen categories, including employee safety, labor practices, job security and COVID-19 policies.Hundreds of unemployed residents wait in long lines outside the Career Center for help with their unemployment claims in Frankfort, Ky.,June 19, 2020.
"We conducted research looking at companies' performance during this great stress test, so the period was February to July," Mark Tulay, a contributing author of the report and the CEO of the Test of Corporate Purpose, a nonprofit group of researchers, told ABC News."We specifically looked at the Business Roundtable signatories.
Another interesting finding of the study, according to Tulay, was that stakeholder capitalism could be good for financial performance as well.
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