BRT Corporate Purpose Archive

In August 2019, the Business Roundtable issued its Statement on the Purpose of a Corporation (“BRT Statement”), in which CEOs of leading companies expressed their commitment to deliver value not only to shareholders, but also to stakeholders. In their study, “Will Corporations Deliver Value to All Stakeholders?”, Lucian Bebchuk and Roberto Tallarita conduct an empirical analysis of more than 600 hand-collected corporate documents to examine whether the companies that signed the BRT Statement have changed or have announced that they will change their corporate governance principles and practices to live up to the BRT Statement.

This BRT Corporate Purpose Archive contains the documents reviewed for the study. It includes corporate governance guidelines, no-action letter requests, statements in opposition to shareholder proposals, bylaws, and proxy statements of 128 U.S. public companies whose CEOs signed the BRT Statement, for the period from August 2019 to August 2021.