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
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Journal ArticleDOI
Stakeholder multiplicity: Toward an understanding of the interactions between stakeholders
TL;DR: In this paper, the authors develop a framework for understanding and measuring the effects upon the organization of competing, complementary and cooperative stakeholder interactions, which they refer to as stakeholder multiplicity.
Posted Content
A Case Study of Stakeholder Identification and Prioritization by Managers
TL;DR: In this article, a case study of two large-scale sporting event organizing committees, with a particular focus on interviews with managers at three hierarchical levels, was conducted to examine stakeholder identification and prioritization by managers using the power, legitimacy, and urgency framework.
Journal ArticleDOI
An Ontology for Strongly Sustainable Business Models: Defining an Enterprise Framework Compatible With Natural and Social Science
Antony Upward,Peter Jones +1 more
TL;DR: A framework of strongly sustainable business model propositions and principles are presented as findings from a transdisciplinary review of the literature and an ontology that enables the description of successful stronglyustainable business models that resolves weaknesses and includes functionally necessary relationships is introduced.
Journal ArticleDOI
Partnership at Work: Mutuality and the Balance of Advantage
David Guest,Riccardo Peccei +1 more
TL;DR: In this paper, a survey using matched samples of 54 UK management and employee representatives found a link between partnership principles and practices, between practices and ratings of employee attitudes and behaviour, between these and estimates of positive employment relations and quality and productivity, finally between productivity and sales and profitability.
Journal ArticleDOI
How Do Employees Perceive Corporate Responsibility? Development and Validation of a Multidimensional Corporate Stakeholder Responsibility Scale
TL;DR: In this article, the authors developed and validated a new measure of corporate stakeholder responsibility (CStR), which refers to an organization's context-specific actions and policies designed to enhance the welfare of various stakeholder groups by accounting for the triple bottom line of economic, social, and environmental performance.
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.
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.