Letters to stakeholders: An emerging phenomenon of multi-stakeholder engagement

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Abstract

We explore a new phenomenon of multi-stakeholder orientation and engagement in corporate communication: letters to stakeholders. By applying content, semantic, and quantitative analyses to standardized corporate communication among the 100 largest multinational companies worldwide, our study reveals that approximately one-third of the examined companies have begun to utilize what could be considered letters to stakeholders. We demonstrate that letters to stakeholders adopt a multi-stakeholder orientation, which describes the ability to speak a language that is widely comprehensible by a diverse audience. Letters to stakeholders are positively related to firm willingness to display multi-stakeholder engagement activities by embracing stakeholder recognition, support, and dialog. Our findings position letters to stakeholders as a promising tool for and approach to corporate communication that improves the legitimacy and moral consideration of stakeholders.

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Civera, C., Cortese, D., Dmytriyev, S., & Freeman, R. E. (2023). Letters to stakeholders: An emerging phenomenon of multi-stakeholder engagement. In Business Ethics, the Environment and Responsibility. John Wiley and Sons Inc. https://doi.org/10.1111/beer.12639

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