RECONCEPTUALIZING STAKEHOLDER ENGAGEMENT IN THE DIGITAL ERA: COMPLEXITIES, POTENTIALITES AND IMPLICATIONS FOR SUSTAINABLE CORPORATE GOVERNANCE

Abstract

The emergence of artificial intelligence and digital transformation is precipitating a seismic change in the purview of stakeholder engagement in corporate governance. As stakeholder’s needs diversify, companies must by developing strategic stakeholder management frameworks that balance competing interest, ensure profitability, and foster sustainability. This article undertakes an examination of the current state of stakeholder engagement in corporate governance, with a specific focus on the challenges and opportunities presented by emerging technologies. Furthermore, it evaluates the efficacy of existing legal and regulatory frameworks stakeholder engagement and identifies areas for improvement. This will be achieved with doctrinal research, in comparative analysis with the United Kingdom (U.K) which is notable in implementing corporate governance standards globally. While Digital transformation has a significant effect on stakeholder engagement, ethical use of technology and corporate digital responsibility are critical issues for companies to consider in navigating this course.