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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TL;DR: A comparative performance analysis of artificial Neural networks, MDA and chance showed that artificial neural networks predict better in both training and testing phases, and are promising as an alternative to traditional analytic tools like MDA.
Journal ArticleDOI
Nongovernmental organizations as institutional actors in international business: theory and implications
Jonathan P. Doh,Hildy Teegen +1 more
TL;DR: This article developed a model to evaluate and assess the relative importance of NGOs to the stability and longevity of international investment projects and the emergent impact of NGOs on investment projects at different stages of the investment cycle.
Journal ArticleDOI
A Review of Theory in Family Business Research: The Implications for Corporate Governance
TL;DR: In this paper, the authors provide a comprehensive review and a critical assessment of the theoretical underpinnings and corporate governance issues in family business research and discuss possible directions for future research that might further contribute to building a comprehensive theory of the family business and its corporate governance.
Posted Content
Disruptive Technologies, Stakeholders and the Innovation Value-Added Chain: A Framework for Evaluating Radical Technology Development
Jeremy Hall,Michael J. C. Martin +1 more
TL;DR: In this paper, an evaluation framework that incorporates stakeholder theory, innovation management concepts and Popper's evolutionary learning methodology of science and its extension to social issues is proposed. But it does not address the potential unintended and unforeseen consequences of the technology, as well as its potential benefits.
Journal ArticleDOI
3 Critical Management Studies
TL;DR: Critical management studies (CMS) as discussed by the authors offers a range of alternatives to mainstream management theory with a view to radically transforming management practice The common core is deep skepticism regarding the moral defensibility and the social and ecological sustainability of prevailing conceptions and forms of management and organization, and the motivating concern is neither personal failures of individual managers nor the poor management of specific firms, but the social injustice and environmental destructiveness of the broader social and economic systems that these managers and firms serve and reproduce.
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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.