A study published in the Journal of Business Ethics by SMU Associate Professor of Strategic Management Cyndi Zhang Man, and two other academics, investigated how corporate coalitions influence resource allocation between shareholder payouts and societal contributions. The research identified two dominant board coalitions: a shareholder-value coalition composed of Chief Executive Officers and directors with finance or accounting expertise prioritising dividends, and a state-endorsement coalition composed of members with government experience emphasising corporate social responsibility. The student examined dividend payments and corporate donations after firms met financial targets, offering insights into how companies prioritise and distribute resources amidst competing demands.
