Open AccessBook
Stakeholder Theory: The State of the Art
Bidhan L. Parmar,R. Edward Freeman,Jeffrey S. Harrison,Andrew C. Wicks,Lauren Purnell,Simone de Colle +5 more
TLDR
In this paper, the major uses and adaptations of stakeholder theory across a broad array of disciplines such as business ethics, corporate strategy, finance, accounting, management, and marketing are reviewed.Abstract:
For the last 30 years a growing number of scholars and practitioners have been experimenting with concepts and models that facilitate our understanding of the complexities of today’s business challenges. Among these, “stakeholder theory” or “stakeholder thinking” has emerged as a new narrative to understand and remedy three interconnected business problems—the problem of understanding how value is created and traded, the problem of connecting ethics and capitalism, and the problem of helping managers think about management such that the first two problems are addressed. In this article, we review the major uses and adaptations of stakeholder theory across a broad array of disciplines such as business ethics, corporate strategy, finance, accounting, management, and marketing. We also evaluate and suggest future directions in which research on stakeholder theory can continue to provide useful insights into the practice of sustainable and ethical value creation.read more
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The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields (Chinese Translation)
Paul DiMaggio,Walter W. Powell +1 more
TL;DR: In this article, the authors argue that rational actors make their organizations increasingly similar as they try to change them, and describe three isomorphic processes-coercive, mimetic, and normative.
Journal ArticleDOI
Corporate social responsibility and access to finance
TL;DR: In this article, the authors investigate whether superior performance on corporate social responsibility (CSR) strategies leads to better access to finance and find that firms with better CSR performance face significantly lower capital constraints.
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Stakeholder Theory and The Corporate Objective Revisited
TL;DR: This paper offers a response to Sundaram and Inkpen's article "The Corporate Objective Revisited" by clarifying misconceptions about stakeholder theory and concluding that truth and freedom are best served by seeing business and ethics as connected.
Posted Content
The Impact of Corporate Sustainability on Organizational Processes and Performance
TL;DR: In this paper, the authors investigate the effect of corporate sustainability on organizational processes and performance and find that corporations that voluntarily adopted sustainability policies by 1993 exhibit by 2009 distinct organizational processes compared to a matched sample of companies that adopted almost none of these policies - termed as Low Sustainability companies.
Journal ArticleDOI
The Impact of Corporate Sustainability on Organizational Processes and Performance
TL;DR: In this paper, the authors investigate the effect of corporate sustainability on organizational processes and performance using a matched sample of 180 U.S. companies, and find that corporations that voluntarily adopted sustainability policies by 1993-termed as high sustainability companies-exhibit by 2009 distinct organizational processes compared to a mismatched sample of companies that adopted almost none of these policies.
References
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Journal ArticleDOI
Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Book ChapterDOI
Firm Resources and Sustained Competitive Advantage
TL;DR: In this article, the authors examined the link between firm resources and sustained competitive advantage and analyzed the potential of several firm resources for generating sustained competitive advantages, including value, rareness, imitability, and substitutability.
Book ChapterDOI
The iron cage revisited institutional isomorphism and collective rationality in organizational fields
Paul DiMaggio,Walter W. Powell +1 more
TL;DR: In this paper, the authors argue that rational actors make their organizations increasingly similar as they try to change them, and describe three isomorphic processes-coercive, mimetic, and normative.
Journal ArticleDOI
Efficient capital markets: a review of theory and empirical work*
TL;DR: Efficient Capital Markets: A Review of Theory and Empirical Work Author(s): Eugene Fama Source: The Journal of Finance, Vol. 25, No. 2, Papers and Proceedings of the Twenty-Eighth Annual Meeting of the American Finance Association New York, N.Y. December, 28-30, 1969 (May, 1970), pp. 383-417 as mentioned in this paper
Related Papers (5)
The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications
Thomas Donaldson,Lee E. Preston +1 more