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
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Employee Volunteering and Social Capital: Contributions to Corporate Social Responsibility
TL;DR: In this paper, the authors investigate the contribution of employee volunteering to corporate social responsibility, specifically whether and how it contributes to social capital, by exploring the social relations and resources which underpin social capital creation; the roles of opportunity, motivation and ability in bringing the actors together and enhancing their capacity for cooperation.
Journal ArticleDOI
Stakeholder: Essentially Contested or Just Confused?
TL;DR: Analysis of the concept of the ‘stakeholder’ suggests that this concept is an essentially contested concept and this explains the degree of definitional variation.
Journal ArticleDOI
Social Sustainability Considerations during Planning and Design: Framework of Processes for Construction Projects
TL;DR: The concept mapping research method was applied to develop this framework on the basis of input from 25 experts in academia, industry, and government as mentioned in this paper, and Multidimensional scaling and hierarchical cluster analyses were used to organize the experts' input into six categories defining social sustainability in construction projects: stakeholder engagement, user considerations, team formation, man- agement considerations, impact assessment, and place context.
What Does Islam Say about Corporate Social Responsibility
TL;DR: In this paper, the authors discuss the Islamic alternative to the various theories underpinning corporate social responsibility (CSR) initiatives and propose an Islamic perspective to influence the thinking and behaviour of the world's 1.6 billion Muslims.
Journal ArticleDOI
Toward a new theory of the firm: a critique of stakeholder “theory”
TL;DR: In this paper, the authors look at the historic roots of stakeholder theory, critique its current form, and suggest steps that may be taken for stakeholder theories to satisfy the conceptual requirements of theory.
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.