REBALANCING DISRUPTIVE BUSINESS OF MULTINATIONAL CORPORATIONS AND GLOBAL VALUE CHAINS WITHIN DEMOCRATIC AND INCLUSIVE CITIZENSHIP PROCESSES- REVIEW WORKING PAPER

The purpose of this working paper is to conduct a comprehensive review of existing literature that explores the relationship between business organizations and democracy. This review draws from various fields, including management, business ethics, sociology, international law, and other relevant disciplines for this Project and has several objectives. Firstly, it aims to provide insight into prior research on how democratic institutions regulate economic actors and how these actors, particularly large multinational corporations (MNCs), resist such regulation. Additionally, it examines how these economic actors develop behaviors and economic models that pose challenges to democratic governance, such as business-related human rights violations. In the initial part of the review, we delve into the historical and contemporary aspects of the relationship between business and democracy. Furthermore, the report explores how companies can contribute to shaping a more democratic future by addressing gaps in governance, especially in cases where populist governments fail to protect the rights of their citizens. It also considers the development of alternative business models, such as social enterprises and cross-sector partnerships. Moreover, it looks into how businesses can actively engage in democratic governance and promote principles of participation. The final section of the working paper involves a bibliometric analysis, including co authorship, co-citation, and keyword co-occurrence maps. This analysis is based on key references used by team members in their literature reviews and is designed to examine the connections that exist among various strands of research that support the research questions of the Rebalance Project