Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-76fb5796d-skm99 Total loading time: 0 Render date: 2024-04-25T11:08:31.362Z Has data issue: false hasContentIssue false

Chapter 12 - The Stakeholder Perspective in Strategic Management

from Part III - Stakeholder Theory in the Business Disciplines

Published online by Cambridge University Press:  01 May 2019

By
Douglas A. Bosse  and
Trey Sutton
Edited by
Jeffrey S. Harrison ,
Jay B. Barney ,
R. Edward Freeman  and
Robert A. Phillips
Jeffrey S. Harrison
Affiliation:
University of Richmond
Jay B. Barney
Affiliation:
University of Utah
R. Edward Freeman
Affiliation:
University of Virginia
Robert A. Phillips
Affiliation:
York University, Toronto
Get access

Summary

A summary is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.
Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
The Cambridge Handbook of Stakeholder Theory , pp. 189 - 208
Publisher: Cambridge University Press
Print publication year: 2019

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Adams, R. B., Licht, A. N., & Sagiv, L. (2011). Shareholders and stakeholders: How do directors decide? Strategic Management Journal, 32(12): 1331–1355.Google Scholar
Agle, B. R., Mitchell, R. K., & Sonnenfeld, J. A. (1999). Who matters to CEOs? An investigation of stakeholder attributes and salience, corporate performance, and CEO values. Academy of Management Journal, 42(5): 507–525.CrossRefGoogle Scholar
Ambrose, M. L., & Cropanzano, R. (2003). A longitudinal analysis of organizational fairness: An examination of reactions to tenure and promotion decisions. Journal of Applied Psychology, 88(2): 266–275.Google Scholar
Barnard, C. I. (1938). The functions of the executive. Cambridge, MA: Harvard University Press.Google Scholar
Berman, S. L., Wicks, A. C., Kotha, S., & Jones, T. M. (1999). Does stakeholder orientation matter? The relationship between stakeholder management models and firm financial performance. Academy of Management Journal, 42(5): 488–506.Google Scholar
Bosse, D. A., & Coughlan, R. (2016). Stakeholder relationship bonds. Journal of Management Studies, 53(7): 1197–1222.CrossRefGoogle Scholar
Bosse, D. A., & Harrison, J. S. (2011). Stakeholders, entrepreneurial rent and bounded self-interest. In Phillips, R. A., ed., Stakeholder theory: Impact and prospects, pp. 193–211. Cheltenham, UK: Edward Elgar.Google Scholar
Bosse, D. A., & Phillips, R. A. (2016). Agency theory and bounded self-interest. Academy of Management Review, 41(2): 276–297.Google Scholar
Bosse, D. A., Phillips, R. A., & Harrison, J. S. (2009). Stakeholders, reciprocity, and firm performance. Strategic Management Journal, 30(4): 447–456.Google Scholar
Brandenburger, A., & Stuart, H. (1996). Value-based business strategy. Journal of Economic and Management Strategy, 5(1): 5–24.Google Scholar
Brickson, S. L. (2007). Organizational identity orientation: The genesis of the role of the firm and distinct forms of social value. Academy of Management Review, 32(3): 864–888.Google Scholar
Bridoux, F., & Stoelhorst, J. W. (2014). Microfoundations for stakeholder theory: Managing stakeholders with heterogeneous motives. Strategic Management Journal, 35(1): 107–125.Google Scholar
Buysse, K., & Verbeke, A. (2003). Proactive environmental strategies: A stakeholder management perspective. Strategic Management Journal, 24(5): 453–470.CrossRefGoogle Scholar
Chatterji, A. K., & Toffel, M. W. (2010). How firms respond to being rated. Strategic Management Journal, 31(9): 917–945.Google Scholar
Chen, H., & Rao, A. R. (2002). Close encounters of two kinds: False alarms and dashed hopes. Marketing Science, 21(2): 178–196.Google Scholar
Choi, J., & Wang, H. (2009). Stakeholder relations and the persistence of corporate financial performance. Strategic Management Journal, 30(8): 895–907.Google Scholar
Choi, Y. R., & Shepherd, D. A. (2005). Stakeholder perceptions of age and other dimensions of newness. Journal of Management, 31(4): 573–596.Google Scholar
Coff, R. W. (1999). When competitive advantage doesn’t lead to performance: The resource-based view and stakeholder bargaining power. Organization Science, 10(2): 119–133.Google Scholar
Coombs, J. E., & Gilley, K. M. (2005). Stakeholder management as a predictor of CEO compensation: Main effects and interactions with financial performance. Strategic Management Journal, 26(9): 827–840.Google Scholar
Crilly, D. (2013). Recasting enterprise strategy: Towards stakeholder research that matters to general managers. Journal of Management Studies, 50(8): 1427–1447.Google Scholar
Crilly, D., & Sloan, P. (2012). Enterprise logic: Explaining corporate attention to stakeholders from the inside-out. Strategic Management Journal, 33(10): 1174–1193.Google Scholar
Crilly, D., & Sloan, P. (2014). Autonomy or control? Organizational architecture and corporate attention to stakeholders. Organization Science, 25(2): 339–355.Google Scholar
Crilly, D., Zollo, M., & Hansen, M. T. (2012). Faking it or muddling through? Understanding decoupling in response to stakeholder pressures. Academy of Management Journal, 55(6): 1429–1448.Google Scholar
Darnall, N., Henriques, I., & Sadorsky, P. (2010). Adopting proactive environmental strategy: The influence of stakeholders and firm size. Journal of Management Studies, 47(6): 1072–1094.Google Scholar
David, P., O’Brien, J. P., Yoshikawa, T., & Delios, A. (2010). Do shareholders or stakeholders appropriate the rents from corporate diversification? The influence of ownership structure. Academy of Management Journal, 53(3): 636–654.CrossRefGoogle Scholar
de Luque, M. S., Washburn, N. T., & Waldman, D. A. (2008). Unrequited profit: How stakeholder and economic values relate to subordinates’ perceptions of leadership and firm performance. Administrative Science Quarterly, 53(4): 626–654.Google Scholar
Doh, J. P, Lawton, T. C., & Rajwani, T. (2012). Advancing nonmarket strategy research: Institutional perspectives in a changing world. Academy of Management Perspectives, 26(3): 22–39.Google Scholar
Donaldson, T., & Preston, L. E. (1995). The stakeholder theory of the corporation: Concepts, evidence, and implications. Academy of Management Review, 20(1): 65–91.Google Scholar
Drucker, P. E. (1954). The practice of management. New York: Harper & Row.Google Scholar
Eesley, C., & Lenox, M. J. (2006). Firm responses to secondary stakeholder action. Strategic Management Journal, 27(8): 765–781.Google Scholar
Evan, W. M., & Freeman, R. E. (1993). A stakeholder theory of the modern corporation: Kantian capitalism. In Beauchamp, T. L. & Bowie, N. E., eds., Ethical theory and business, pp. 97–106. Englewood Cliffs, NJ: Prentice-Hall.Google Scholar
Fehr, E., & Gächter, S. (2000). Fairness and retaliation: The economics of reciprocity. Journal of Economic Perspectives, 14(3): 159–181.Google Scholar
Freeman, R. E. (1984). Strategic management: A stakeholder approach. Boston, MA: Pitman Publishing.Google Scholar
Freeman, R. E. (1994). The politics of stakeholder theory: Some future directions. Business Ethics Quarterly, 4(4): 409–421.Google Scholar
Freeman, R. E. (1999). Divergent stakeholder theory: Response. Academy of Management Review, 24(2): 233–236.Google Scholar
Freeman, R. E., & Gilbert, D. R. (1988). Corporate strategy and the search for ethics. Englewood Cliffs, NJ: Prentice-Hall.Google Scholar
Freeman, R. E., Harrison, J. S., Wicks, A. C., Parmar, B. L., & de Colle, S. (2010). Stakeholder theory: The state of the art. Cambridge, UK: Cambridge University Press.Google Scholar
Freeman, R. E., & Phillips, R. (2002). Stakeholder theory: A libertarian defense. Business Ethics Quarterly, 12(3): 331–350.Google Scholar
Freeman, R. E, Wicks, A. C., & Parmar, B. (2004). Stakeholder theory and “the corporate objective revisited.” Organization Science, 15(3): 364–369.CrossRefGoogle Scholar
Frooman, J. (1999). Stakeholder influence strategies. Academy of Management Review, 24(2): 191–205.Google Scholar
Garcia-Castro, R., & Aguilera, R. V. (2015). Incremental value creation and appropriation in a world with multiple stakeholders. Strategic Management Journal, 36(1): 137–147.Google Scholar
Greenley, G. E., & Foxall, G. R. (1997). Multiple stakeholder orientation in UK companies and the implications for company performance. Journal of Management Studies, 34(2): 259–284.Google Scholar
Harrison, J. S., & Bosse, D. A. (2013). How much is too much? The limits to generous treatment of stakeholders. Business Horizons, 56(3): 313–322.Google Scholar
Harrison, J. S., Bosse, D. A., & Phillips, R. A. (2010). Managing for stakeholders, stakeholder utility functions, and competitive advantage. Strategic Management Journal, 31(1): 58–74.Google Scholar
Hart, S. L. (1995). A natural-resource-based view of the firm. Academy of Management Review, 20(4): 986–1014.Google Scholar
Henisz, W. J., Dorobantu, S., & Nartey, L. J. (2014). Spinning gold: The financial returns to stakeholder engagement. Strategic Management Journal, 35(12): 1727–1748.Google Scholar
Henriques, I., & Sadorsky, P. (1999). The relationship between environmental commitment and managerial perceptions of stakeholder importance. Academy of Management Journal, 42(1): 87–99.Google Scholar
Hill, C. W. L., & Jones, T. M. (1992). Stakeholder-agency theory. Journal of Management Studies, 29(2): 131–154.Google Scholar
Hillman, A. J., & Keim, G. D. (2001). Shareholder value, stakeholder management, and social issues: What’s the bottom line? Strategic Management Journal, 22(2): 125–139.Google Scholar
Jawahar, I. M., & McLaughlin, G. L. (2001). Toward a descriptive stakeholder theory: An organizational life cycle approach. Academy of Management Review, 26(3): 397–414.Google Scholar
Jolls, C., Sunstein, C. R., & Thaler, R. (1998). A behavioral approach to law and economics. Stanford Law Review, 50(5): 1471–1550.Google Scholar
Jones, T. M. (1995). Instrumental stakeholder theory – A synthesis of ethics and economics. Academy of Management Review, 20(2): 404–437.Google Scholar
Jones, T. M., & Wicks, A. C. (1999). Convergent stakeholder theory. Academy of Management Review, 24(2): 206–221.CrossRefGoogle Scholar
Julian, S. D., Ofori-Dankwa, J. C., & Justis, R. T. (2008). Understanding strategic responses to interest group pressures. Strategic Management Journal, 29(9): 963–984.Google Scholar
Kahneman, D. (1992). Reference points, anchors, norms, and mixed feelings. Organizational Behavior and Human Decision Processes, 51(2): 296–312.Google Scholar
Kahneman, D., Knetsch, J. L., & Thaler, R. (1986). Fairness as a constraint on profit seeking: Entitlements in the market. American Economic Review, 76(4): 728–741.Google Scholar
Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2): 263–292.Google Scholar
Kassinis, G., & Vafeas, N. (2006). Stakeholder pressures and environmental performance. Academy of Management Journal, 49(1): 145–159.Google Scholar
King, B. G., & Soule, S. A. (2007). Social movements as extra-institutional entrepreneurs: The effect of protests on stock price returns. Administrative Science Quarterly, 52(3): 413–442.Google Scholar
Kochan, T. A., & Rubinstein, S. A. (2000). Toward a stakeholder theory of the firm: The Saturn partnership. Organization Science, 11(4): 367–386.Google Scholar
Kock, C. J., Santalo, J., & Diestre, L. (2012). Corporate governance and the environment: What type of governance creates greener companies? Journal of Management Studies, 49(3): 492–514.Google Scholar
Leaf, C. (2017). No margin, no mission. Fortune, September 15: 12.Google Scholar
Lieberman, M. B., Garcia-Castro, R., & Balasubramanian, N. (2017). Measuring value creation and appropriation in firms: The VCA model. Strategic Management Journal, 38(6): 1193–1211.Google Scholar
Luoma, P., & Goodstein, J. (1999). Stakeholders and corporate boards: Institutional influences on board composition and structure. Academy of Management Journal, 42(5): 553–563.Google Scholar
Meznar, M. B., Nigh, D., & Kwok, C. C. Y. (1994). Effect of announcements of withdrawal from South Africa on stockholder wealth. Academy of Management Journal, 37(6): 1633–1648.Google Scholar
Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Academy of Management Review, 22(4): 853–886.Google Scholar
Murillo-Luna, J. L., Garces-Ayerbe, C., & Rivera-Torres, P. (2008). Why do patterns of environmental response differ? A stakeholders’ pressure approach. Strategic Management Journal, 29(11): 1225–1240.Google Scholar
Nag, R., Hambrick, D. C., & Chen, M-J. (2007). What is strategic management, really? Inductive derivation of a consensus definition of the field. Strategic Management Journal, 28(9): 935–955.Google Scholar
North, D. (1990). Institutions, institutional change and economic performance. Cambridge, UK: Cambridge University Press.Google Scholar
Ogden, S, & Watson, R. (1999). Corporate performance and stakeholder management: Balancing shareholder and customer interests in the UK privatized water industry. Academy of Management Journal, 42(5): 526–538.Google Scholar
Pajunen, K. (2006). Stakeholder influences in organizational survival. Journal of Management Studies, 43(6): 1261–1288.Google Scholar
Phillips, R. (1997). Stakeholder theory and a principle of fairness. Business Ethics Quarterly, 7(1): 51–66.Google Scholar
Pirson, M., & Malhotra, D. (2011). Foundations of organizational trust: What matters to different stakeholders? Organization Science, 22(4): 1087–1104.Google Scholar
Purnell, L. S., & Freeman, R. E. (2012). Stakeholder theory, fact/value dichotomy, and the normative core: How Wall Street stops the ethics conversation. Journal of Business Ethics, 109: 109–116.Google Scholar
Porter, M. E. (1980). Competitive strategy. New York: Free Press.Google Scholar
Rowley, T. J. (1997). Moving beyond dyadic ties: A network theory of stakeholder influences. Academy of Management Review, 22(4): 887–910.Google Scholar
Rowley, T. J., & Moldoveanu, M. (2003). When will stakeholder groups act? An interest- and identity-based model of stakeholder group mobilization. Academy of Management Review, 28(2): 204–219.Google Scholar
Rumelt, R. P. (1987). Theory, strategy, and entrepreneurship. In Teece, D., ed., The competitive challenge, pp. 137–158. Cambridge, MA: Ballinger.Google Scholar
Rumelt, R. P., Schendel, D. E., & Teece, D. J. (1994). Fundamental issues in strategy: A research agenda. Boston, MA: Harvard Business School Press.Google Scholar
Schendel, D. E., & Hofer, C. W. (1979). Strategic Management: A New View of Business Policy and Planning. Boston, MA: Little Brown.Google Scholar
Sharma, S., & Henriques, I. (2005). Stakeholder influences on sustainability practices in the Canadian forest products industry. Strategic Management Journal, 26(2): 159–180.Google Scholar
Smith, A. (1776). An inquiry into the nature and causes of the wealth of nations. London: George Routledge and Sons.Google Scholar
Smith, N. C., & Rönnegard, D. (2014). Shareholder primacy, corporate social responsibility, and the role of business schools. Journal of Business Ethics, 134(3): 463–478.Google Scholar
Stevens, J. M., Steensma, H. K., Harrison, D. A., & Cochran, P. L. (2005). Symbolic or substantive document? The influence of ethics codes on financial executives’ decisions. Strategic Management Journal, 26(2): 181–195.Google Scholar
Sundaram, A. K., & Inkpen, A. C. (2004). The corporate objective revisited. Organization Science, 15(3): 350–363.Google Scholar
Trahms, C. A., Ndofor, H. A., & Sirmon, D. G. (2013). Organizational decline and turnaround: A review and agenda for future research. Journal of Management, 39(5): 1277–1307.Google Scholar
Wicks, A. C., Berman, S. L., & Jones, T. M. (1999). The structure of optimal trust: Moral and strategic implications. Academy of Management Review, 24(1): 99–116.Google Scholar
Wicks, A.C., Freeman, R.E., & Gilbert, D.R. (1994). A feminist reinterpretation of the stakeholder concept. Business Ethics Quarterly, 4(4): 475–497.Google Scholar
Wolfe, R. A., & Putler, D. S. (2002). How tight are the ties that bind stakeholder groups? Organization Science, 13(1): 64–80.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×