Stakeholderism Silo Busting

The fields of antitrust, bankruptcy, corporate law, and securities regulation are undergoing tumultuous debates. On one side in each field is the dominant view that the field should focus exclusively on a specific constituency—antitrust on consumers, bankruptcy on creditors, corporate law on shareholders, and securities regulation on financial investors. On the other is a growing insurgency that seeks to broaden the focus to a larger set of stakeholders, including workers, the environment, and political communities. But these conversations have largely been treated as parallel conversations, with each debate unfolding within the framework and literature of a single field. Studying these debates together reveals deep commonalities and unlocks useful insights. It can also suggest new theoretical and policy directions while avoiding the dangers of a blinkered approach