How Biden would change the game for CEOs

Merrill and Schwerin, who were top Hillary Clinton aides, have these lessons for the next phase of "stakeholder capitalism":

1. "If Biden replaces Trump, there will be fewer easy chances to express outrage and more hard choices to make about specific policies and legislation that could become law."
2. "CEOs who want to be seen as leaders will have to use their market power — not just their voice — to drive systemic change."
3. "There’s going to be more scrutiny of companies when their campaign contributions and lobbying budgets contradict their stated values."

The bottom line: "Companies doubling down on their values right now are proving more resilient in the current crisis, just as they did in the last recession."

Go deeper: CEOs are America's new politicians