Journal ArticleDOI
The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications
Thomas Donaldson,Lee E. Preston +1 more
TLDR
In this article, the authors examine three aspects of the stakeholder theory and critique and integrate important contributions to the literature related to each, concluding that the three aspects are mutually supportive and that the normative base of the theory-which includes the modern theory of property rights-is fundamental.Abstract:
?The stakeholder theory has been advanced and justified in the management literature on the basis of its descriptive accuracy, instrumental power, and normative validity. These three aspects of the theory, although interrelated, are quite distinct; they involve different types of evidence and argument and have different implications. In this article, we examine these three aspects of the theory and critique and integrate important contributions to the literature related to each. We conclude that the three aspects of stakeholder theory are mutually supportive and that the normative base of the theory-which includes the modern theory of property rights-is fundamental. If the unity of the corporate body is real, then there is reality and not simply legal fiction in the proposition that the managers of the unit are fiduciaries for it and not merely for its individual members, that they are . . . trustees for an institution [with multiple constituents] rather than attorneys for the stockholders.read more
Citations
More filters
Journal ArticleDOI
Corporate charitable giving, multinational companies and countries of concern
TL;DR: In this paper, the degree to which corporate charitable giving is influenced by a firm's internationalization and/or whether it has operations in one or more countries of concern was investigated, and they found evidence of a positive effect not for internationalization per se, but only for a presence in particular countries.
Journal ArticleDOI
The Destination Promotion Triad: Understanding Asymmetric Stakeholder Interdependencies Among the City, Hotels, and DMO
TL;DR: In this paper, the authors explored the relationship between the DMO, charged with crafting and executing destination promotion, and its two most powerful stakeholders, the city (or urban government) and hotels (or accommodation sector).
Journal ArticleDOI
Firm performance, corporate ownership, and corporate social responsibility disclosure in China
TL;DR: Li et al. as mentioned in this paper empirically examined the effect of firm performance on CSR disclosure in terms of disclosure frequency and quality among Chinese listed firms and the possible mediating effect of corporate ownership on the relationship between firm performance and corporate social responsibility (CSR) disclosure.
Journal ArticleDOI
Building Stakeholder Theory with a Decision Modeling Methodology
TL;DR: In this article, a case study of a Pacific Northwest forest company's decision to phase out traditional clear-cut harvesting methods of old-growth forests is presented, where the authors focus on the critical juncture where stakeholder relationships and corporate policy decisions converge.
Journal ArticleDOI
Business Cases for Sustainability: A Stakeholder Theory Perspective:
TL;DR: The business case for sustainability is a notion often referenced in the corporate sustainability and corporate social responsibility literature as discussed by the authors, and it is a concept that is often referred to as the "business case for social responsibility".
References
More filters
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.
Journal ArticleDOI
The Nature of the Firm
TL;DR: In this paper, it is shown that a definition of a firm may be obtained which is not only realistic in that it corresponds to what is meant by a firm in the real world, but is tractable by two of the most powerful instruments of economic analysis developed by Marshall, the idea of the margin and that of substitution.
Book
Strategic Management: A Stakeholder Approach
TL;DR: The Stakeholder Approach: 1. Managing in turbulent times 2. The stakeholder concept and strategic management 3. Strategic Management Processes: 4. Setting strategic direction 5. Formulating strategies for stakeholders 6. Implementing and monitoring stakeholder strategies 7. Conflict at the board level 8. The functional disciplines of management 9. The role of the executive as mentioned in this paper.
Journal ArticleDOI
The Economic Institutions of Capitalism
TL;DR: The Economic Institutions of Capitalism as mentioned in this paper is a seminal work in the field of economic institutions of capitalism. Journal of Economic Issues: Vol. 21, No. 1, pp. 528-530.