Living wages revisited: The case of Walgreens Boots Alliance

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The living wage proposal at Walgreens garnered less than 10% support, mirroring investor reluctance seen at Sainsbury's.
The importance of a compelling business case for shareholder support remains unclear, with fiduciary duties complicating acceptance.
Universal Owner Theory faces practical challenges in evidence and implementation, creating skepticism among investors regarding execution at WBA and beyond. Each proposal risks imposing externalities on competitiveness, limiting practical uptake.

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Living wage proposals were largely rejected at Walgreens and Sainsbury's, suggesting lessons remain unlearned.

Tom Gosling (2024) studied this question.

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