Stakeholder inclusion in organizational decision-making, and the resulting issue of value creation, is one of the thorny problems that stakeholder theory has sought to address. Yet progress has been slow, we suggest, because present accounting theory and practice does not address the decision-making needs of all stakeholders who are at risk due to the activities of organizations. In this paper we develop a transdisciplinary theory of value-creation stakeholder accounting (VCSA) based on stakeholder risk-sharing as a superior rationale for stakeholder inclusion. We introduce value-creation stakeholder partnerships (VCSPs) as a promising mechanism for the implementation of VCSA. VCSA is derived from a fusion of accounting, value-creation/entrepreneurship, and stakeholder theory, and the VCSP mechanism emerges from distinguishing proprietary-convention (partnership) from entityconvention (corporate) accounting. Using this framing we summarize and situate the articles in this Special Issue on Stakeholder Accounting.

The aims of the research are to explore evidence of professional human resource management (HRM) role tensions, the factors that affect HRM role tension, and to consider the impact on management perceptions when role tensions exist. Using a qualitative approach, 25 interviews were conducted in Australia with senior HRM personnel, top management team (TMT) executives, and a management consultant. Findings reveal that the failure of the HRM profession to attract people with a business focus increases HRM role tensions. Respondents report that tensions were reduced when aspects of the HRM role were devolved or outsourced, there was an acceptance of a changed psychological contract, and clearer attempts were made to communicate an agreed-upon strategic focus for HRM. HRM role bias led to a reduced willingness among TMT members to respect, and communicate with, HRM professionals. The implications of the negative outcomes of HR role tensions are discussed with reference to the power of the HRM function.

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