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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Reporting CSR – what and how to say it?
TL;DR: In this paper, the authors analyse and discuss what organizations say and how they say it when reporting Corporate Social Responsibility (CSR) and raise the question whether organizations report consistently on CSR in terms of genres, media, rhetorical strategies, etc.
Journal ArticleDOI
Stakeholder Rights and Corporate Governance: A Cross-National Study of Hostile Takeovers
TL;DR: In this article, the authors examine the role of three types of stakeholders in uneven adoption of an organizational practice in different countries, arguing that organizational practices achieve widespread use only when they are consistent with the interests of the most powerful social actors as enshrined in legal rights.
Journal ArticleDOI
From Stakeholders to Institutions: The Changing Face of Social Enterprise Governance Theory
TL;DR: In this paper, the authors set out the current theoretical landscape of social enterprise governance and proposed an alternative theory that considers the influence of institutional pressures upon governance arrangements, and suggested a deeper analysis of institutional factors upon governance structure.
Journal ArticleDOI
Outcomes and success factors of enterprise IT architecture management: empirical insight from the international financial services industry
Christian Schmidt,Peter Buxmann +1 more
TL;DR: In this article, a field survey was conducted within the international financial services industry to answer two main questions: (1) do firms adopting EAM perform better with regard to high-level information management objectives like IT flexibility and IT efficiency, and if so, what are the critical success factors in attaining these goals?
Journal ArticleDOI
Corporate social disclosures in the context of national cultures and stakeholder theory
TL;DR: In this article, the authors investigated whether corporate social disclosure levels relate to national cultures and found significant statistical relationships between corporate social disclosures and cultural measures, consistent with the associations suggested by stakeholder theory and a country-specific stakeholder orientation.
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.