David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
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
Michael C. Jensen (2002). Value Maximization, Stakeholder Theory, and the Corporate Objective Function. Business Ethics Quarterly 12 (2):235-256.
Jean McGuire, Sandra Dow & Kamal Argheyd (2003). CEO Incentives and Corporate Social Performance. Journal of Business Ethics 45 (4):341 - 359.
Michelle Greenwood (2007). Stakeholder Engagement: Beyond the Myth of Corporate Responsibility. [REVIEW] Journal of Business Ethics 74 (4):315 - 327.
Ron Bird, Anthony D. Hall, Francesco Momentè & Francesco Reggiani (2007). What Corporate Social Responsibility Activities Are Valued by the Market? Journal of Business Ethics 76 (2):189 - 206.
L. S. Mahoney & Linda Thorne (2005). Corporate Social Responsibility and Long-Term Compensation: Evidence From Canada. [REVIEW] Journal of Business Ethics 57 (3):241-253.
Citations of this work BETA
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.
Samantha Miles (2012). Stakeholder: Essentially Contested or Just Confused? [REVIEW] Journal of Business Ethics 108 (3):285-298.
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.
Stéphanie Arnaud & David M. Wasieleski (2013). Corporate Humanistic Responsibility: Social Performance Through Managerial Discretion of the HRM. Journal of Business Ethics 120 (3):1-22.
Dongyoung Lee (forthcoming). Corporate Social Responsibility and Management Forecast Accuracy. Journal of Business Ethics.
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