This note responds to Chong Wang's article, “Conscious Capitalism Firms: Do They Behave as Their Proponents Say?” (in this issue of California Management Review) that sets out to test certain conjectures regarding the financial performance and the drivers of that performance for so-called “conscious capitalism” firms. It provides an update of our current thinking on the drivers of performance and describes the kind of analysis that is needed to better understand these drivers. It also presents a set of hypotheses that need to be tested by future research.
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