Journal of Business Ethics 89 (4):491-507 (2009)

Abstract
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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DOI 10.1007/s10551-008-0012-x
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References found in this work BETA

CEO Incentives and Corporate Social Performance.Jean McGuire, Sandra Dow & Kamal Argheyd - 2003 - Journal of Business Ethics 45 (4):341 - 359.

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Citations of this work BETA

Stakeholder: Essentially Contested or Just Confused? [REVIEW]Samantha Miles - 2012 - Journal of Business Ethics 108 (3):285-298.
Corporate Social Responsibility and Management Forecast Accuracy.Dongyoung Lee - 2017 - Journal of Business Ethics 140 (2):353-367.

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