Stakeholder capitalism refers to a model of shared value creation that goes beyond shareholder primacy and emphasizes responsibilities toward all stakeholders, including employees, customers, suppliers, communities, the natural environment, and shareholders. [Ostensibly] revitalized by the 2019 Business Roundtable statement, it aspires to shift corporate purpose from maximizing shareholder value to generating broader societal value. Research shows that stakeholder capitalism can be meaningfully assessed through employees’ perceptions of firm practices across six CSR dimensions (El Akremi et al., J Manag 44:619–657, 2018). It is closely linked to duty-based corporate purpose, defined as an authentic aspiration to contribute positively to society that guides decisions and operations. Firms pursue stakeholder capitalism in response to four converging crises: environmental degradation, multidimensional poverty, carbon inequality, and historically low public trust in big business. Beyond moral imperatives, evidence shows that stakeholder-oriented practices strengthen legitimacy and trust and improve business outcomes, including loyalty in business-to-business markets. But contingencies and nuances apply of course.