2020
DOI: 10.1111/basr.12209
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Evolutionary stakeholder theory in action: Adaptation of public utility regulation in the post‐OPEC world

Abstract: This article extends the Humean example of evolutionary stakeholder theory introduced in Kline and McDermott (2019). In that article, it was established that the Cost of Service Regulation (COSR) rules created by regulatory commissions, courts, and legislation was an example of evolutionary stakeholder theory. Ultimately, the Supreme Court decision in the Hope Natural Gas case established that it was not the method, but the result reach that was important. If the result reach balanced the interests of stakehol… Show more

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Cited by 2 publications
(2 citation statements)
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“…The concept of “the survival of the fittest” refers to the need for biological survival and business development (von Sydow 2016 ). Organizations need to make adjustments to meet evolving regulations and consumer requirements (McDermott 2020 ). Such changes also involve the creation of new items, which can be called inventions.…”
Section: Literature Reviewmentioning
confidence: 99%
“…The concept of “the survival of the fittest” refers to the need for biological survival and business development (von Sydow 2016 ). Organizations need to make adjustments to meet evolving regulations and consumer requirements (McDermott 2020 ). Such changes also involve the creation of new items, which can be called inventions.…”
Section: Literature Reviewmentioning
confidence: 99%
“…The involvement of diverse stakeholders in the management of the firms creates a friendly cooperation atmosphere and contributes to the success of the business. Thus stakeholder theory argues that satisfying the multiple needs and demands of the stakeholders is consistent with the interests of shareholders, which is the best way to maximize the value of the shareholders (Goethel et al, 2019 ; Mcdermott, 2020 ).…”
Section: Theoretical Background and Study Hypothesesmentioning
confidence: 99%