David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 89 (4):491 - 507 (2009)
This article is a first attempt to line out the conditions under which executives might have a real self-interest in pursuing a broad stakeholder management (SM) orientation to enlarge their power. We suggest that managers have wider latitude of action under an SM approach, even when this is instrumental to financial performance. The causally ambiguity of the performance effects of idiosyncratic relationships with stakeholders not only makes SM strategy difficult for competitors to imitate but also increases managerial discretion. When managers use this situation for their own benefit, they can undermine the purported goals of the SM approach. By analyzing some of the factors that might lead to such disfunctionalities, this article advances a theory of the potential dark side of SM.
|Keywords||causal ambiguity corporate governance managerial discretion stakeholder management stakeholder theory|
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References found in this work BETA
Bradley R. Agle & Ronald K. Mitchell (2008). Introduction: Recent Research and New Questions. Business Ethics Quarterly 18 (2):153-159.
Pascual Berrone, Jordi Surroca & Josep A. Tribó (2007). Corporate Ethical Identity as a Determinant of Firm Performance: A Test of the Mediating Role of Stakeholder Satisfaction. [REVIEW] Journal of Business Ethics 76 (1):35 - 53.
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Citations of this work BETA
Samantha Miles (2012). Stakeholder: Essentially Contested or Just Confused? [REVIEW] Journal of Business Ethics 108 (3):285-298.
Javier Delgado-Ceballos, Juan Alberto Aragón-Correa, Natalia Ortiz-de-Mandojana & Antonio Rueda-Manzanares (2012). The Effect of Internal Barriers on the Connection Between Stakeholder Integration and Proactive Environmental Strategies. Journal of Business Ethics 107 (3):281-293.
Olubunmi Faleye & Emery A. Trahan (2011). Labor-Friendly Corporate Practices: Is What is Good for Employees Good for Shareholders? [REVIEW] Journal of Business Ethics 101 (1):1 - 27.
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