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
A Critical Review of Sustainable Business Indices and their Impact
Stephen J. Fowler,Chris Hope +1 more
TL;DR: In this paper, the authors reviewed the performance of sustainable investment indices compared with their benchmark indices, the methodologies employed in compiling the indices, and the impact of the indices on companies and the investment community.
Journal ArticleDOI
Shareholder Activism A Multidisciplinary Review
TL;DR: The heterogeneity of factors in shareholder activism, such as the firm, activist, and environmental characteristics that promote or inhibit activism, along with the breadth of activism's issues, methods, and processes, provide a plethora of theoretical and methodological opportunities and challenges for activism researchers as mentioned in this paper.
Journal ArticleDOI
Stakeholder co-creation during the innovation process: Identifying capabilities for knowledge creation among multiple stakeholders
TL;DR: In this article, a case study of stakeholder co-creation with one type of stakeholders during the innovation process, rather than with multiple stakeholders simultaneously, has been conducted by conducting an in-depth case study, examining multiple stakeholder-co-creation projects embedded within a pharmaceutical firm.
Posted Content
Stakeholding: Confusion or Utopia? Mapping the Conceptual Terrain
TL;DR: In this article, the authors examine and clarify the burgeoning stakeholder literature that currently seeks to inform management practice, corporate governance and public policy with particular emphasis on the UK, and assess some of the key arguments concerning its potential impact on business performance and competitiveness.
Journal ArticleDOI
Whose Land Is It Anyway? National Interest, Indigenous Stakeholders, and Colonial Discourses The Case of the Jabiluka Uranium Mine
TL;DR: In this article, the authors examine the case of the highly controversial Jabiluka uranium mine that was recently given the green signal by the Australian government and argue that contemporary postcolonial theory can not account for anticolonialist struggles or the struggles of the colonized to negotiate with and survive colonial conditions.
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.