1. T. Borden and A. Akhtar, “The Coronavirus Outbreak Has Triggered Unprecedented Mass Layoffs and Furloughs. Here Are the Major Companies That Have Announced They Are Downsizing Their Workforces,” Business Insider, May 28, 2020, www.businessinsider.com; and A. Kalev, “How You Downsize Is Who You Downsize: Biased Formalization, Accountability, and Managerial Diversity,” American Sociological Review 79, no. 1 (February 2014): 109-135.
2. S. Kaplan, “The 360° Corporation: From Stakeholder Trade-Offs to Transformation” (Stanford, California: Stanford University Press, 2019). Many of the examples in this article are drawn from research I did while writing this book.
3. E. Hinchliffe, “The Number of Female CEOs in the Fortune 500 Hits an All-Time Record,” Fortune, May 18, 2020, https://fortune.com; and P. Wahba, “The Number of Black CEOs in the Fortune 500 Remains Very Low,” Fortune, June 1, 2020, https://fortune.com.
4. K. Clark, “U.S. VC Investment in Female Founders Hits All-Time High,” TechCrunch, Dec. 9, 2019, https://techcrunch.com.
5. Note that these kinds of changes require constant vigilance; more recently, protests against factory conditions signaled new challenges. See M. Bain, “Nike Is Facing a New Wave of Anti-Sweatshop Protests,” Quartz, Aug. 1, 2017, https://qz.com.
6. “Global Sustainable Investment Review 2018,” Global Sustainable Investment Alliance, 2018, www.gsi-alliance.org.
7. C. Flammer, “Does Corporate Social Responsibility Lead to Superior Financial Performance? A Regression Discontinuity Approach,” Management Science 61, no. 11 (November 2015): 2549-2568; and R.G. Eccles, I. Ioannou, and G. Serafeim, “The Impact of Corporate Sustainability on Organizational Processes and Performance,” Management Science 60, no. 11 (November 2014): 2835-2857.
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