In the 4×4 Asset Allocation framework all assets and liabilities in any portfolio should be thought of as means contributing to the following four ends:• Liquidity maintenance: nominally safe and quickly accessible “cash-like” pool of assets,• Income generation: relatively regular,...

Using natural language processing, we identify corporate goals stated in the shareholder letters of the 150 largest companies in the United States from 1955 to 2020. Corporate goals have proliferated, from less than one on average in 1955 to more than 7 in 2020. While in 1955, profit...

Can shareholder-owned corporations maximize profits without harming their stakeholders? This was the central question of the first QUASI (Questions and Unanswers About Social Innovation) webinar. The ‘Yes’ side argues that 1) firms are conditioned to avoid harming stakeholders, 2) firms with...

Corporate Purpose as a Competitive AdvantageVicente Salas-FumásUniversity of Zaragoza March 2023AbstractThere is a widely held belief that capitalism delivers superior social outcomes if the reason why corporations come into existence, their purpose, is to create social value rather than to...

Using natural language processing, we identify and categorize the corporate goals in the shareholder letters of the 150 largest companies in the United States, from 1955 to 2020. Corporate goals have proliferated during this period from an average of two in 1955 to almost 10 in 2020. We find a...