Beyond the Bottom Line

What society expects from business is evolving rapidly. Beyond providing returns to shareholders, businesses play a critical systemic role in the development of society and guardianship of the global environment. For many, this is unchartered territory. Success will come only if we continue to discuss and debate some of the most pressing questions, such as what is the purpose of business? Do investors hold the key to a sustainable future? And what does it mean to have purpose that goes beyond the boardroom?

Are you ready to think Beyond the Bottom Line?

Investment promises from politicians—should we believe them?

December 2019

As the UK general election approaches, voters are being seduced by promises from all the parties about how much they will invest in improving the nation’s infrastructure over the next Parliament. What should we make of these promises? This question is not just about political credibility (or even honesty); it has a hard economic edge. The injection of a slew of new major and minor projects would have implications for the quality of public services, employment, inflation, taxation and government debt. It is worth asking ourselves how much of this spending will actually happen—and when.

What are firms for? Redefining corporate purpose

November 2019

Political control of state-owned utilities in the UK

November 2019

Unbundling: what’s the impact on equity research?

November 2019

Why is Black Friday growing in Europe?

November 2019

Black Friday was born in the USA, but recent years have seen the sales event become a phenomenon in Europe. Across Belgium, France, Germany, Italy the Netherlands, and the UK, sales on Black Friday are now over double the...

What is the purpose of business?

November 2019

Why are so many firms insisting on telling us what their ‘purpose’ is? David Jevons, Oxera Partner, has been looking at the role of business in today’s society and discusses the purpose of a corporate purpose. Since the 1970s, introductory economics and finance classes have taught that the purpose of a firm is to maximise shareholder wealth; yet today, some of the most successful and high-profile firms are keen to communicate a different purpose.

Women in Economics

‘There was a time when women in the economy, women in employment, women in finance were not seen as macro-critical. That’s no longer the case.’

Those are the words of Christine Lagarde, IMF Managing Director, ahead of International Women’s Day. It’s true, as Lagarde observes, that the landscape is changing. But is gender balance happening quickly enough?

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