Stakeholder Engagement and Innovation in Japan

By: Megumi Suto and Hitoshi Takehara

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Synopsis: This book focuses on the linkage between corporate social responsibility (CSR) engagement and innovation strategies in the context of Japanese firms beginning in the late 2000s. Since that time, the firms have faced transformations in their business models and CSR activities in the face of global technological competition. The novelty of this book is that it carefully identifies the channels linking CSR and innovation through employee motivation for creativity and investor awareness of environmental, social, and governance (ESG) issues. As well, the book sheds light on the role of independent sustainability rating agencies as information intermediaries in this linkage. It empirically examines whether and how internal and external stakeholder engagement influences organizational innovation capability and the impact of ESG ratings on that relationship. This present work helps to provide a comprehensive understanding of the integration of multi-stakeholder engagement in corporate innovation strategies to survive in changing social and environmental circumstances, with insight into the role of information intermediaries in the integration process. The book has practical implications for strategic CSR to achieve social and environmental sustainability, which are particularly important in Japan.