International Consortium for Values-based Governance 2026

Description

Shareholder primacy versus Stakeholder primacy: Is there really a trade-off?

When considering shareholder primacy versus stakeholder primacy, is there really a trade-off between the two? Our two-day conference explores one of the most pressing debates in corporate governance.

For decades, scholars and practitioners have asked whether firms must choose between maximising shareholder value and supporting broader stakeholder interests. Some argue that a trade-off exists, particularly in the short term, as financial priorities often take precedence. Others contend that no such trade-off is necessary, as when all stakeholders thrive, shareholders ultimately benefit as well. Despite extensive research, the evidence remains inconclusive.

The 2026 International Consortium for Values-based Governance (ICVG) conference will bring together leading researchers and practitioners from diverse contexts to advance this dialogue. Discussions will examine whether firms prioritise shareholder or stakeholder interests, how these dynamics vary across industries, and what this means for the complex web of relationships within organisations, and how to navigate such trade-offs.

By situating these debates in real-world contexts, the conference aims to shed light on the evolving nature of governance and provide fresh insights into how firms can navigate the balance between shareholders and stakeholders.

Paper submissions are now closed.

If you were unable to submit before the deadline, please email A/Prof Christo Karuna.

Keynote Speaker

Professor Renée Adams, Said Business School, University of Oxford

Renée B. Adams is a Professor of Finance at Saïd Business School, University of Oxford, a Senior Research Fellow at Jesus College, University of Oxford, and a Fellow of the European Corporate Governance Institute. After receiving a PhD in Economics from the University of Chicago, she held positions at the Federal Reserve Bank of New York, the Stockholm School of Economics, the University of Queensland and the University of New South Wales. Renée is an expert on corporate governance. Her work has a strong policy orientation and is highly interdisciplinary. In her work, she explores group decision-making and the moderating effect of group identity, information, culture, preferences and values. She co-founded AFFECT, the American Finance Association’s committee for women, in 2015 and chaired it until 2020. In 2022, she created and taught the first ever MBA and EMBA classes on inclusive leadership at Saïd Business School. Her recent research focuses on women in the art world, and she is currently exploring comic-making to convey scientific ideas that challenge beliefs.

Event Host

Associate Professor Christo Karuna, Founder Director, ICVG, Department of Accounting, Monash Business School

A/Prof Karuna holds a PhD from the University of Michigan, and has been employed at leading universities. His research interests lie broadly in organizational culture and governance, and he has published in leading academic journals. He serves on the editorial boards of several academic journals. He has also worked for leading companies in audit, corporate insolvency, and investment banking.

Program

Enquires

For any enquiries regarding this event, please contact A/Prof Christo Karuna.

Sponsor