Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts

Mitchell, Reginald H.; Agle, Bradley R.; Wood, Donna J.

doi:10.5465/amr.1997.9711022105

Cited by 6,403 publications

(1,538 citation statements)

References 28 publications

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“…Moreover, previous research has demonstrated that managers take into account stakeholders' power to influence the company, as well as the legitimacy (i.e., the degree to which a stakeholder has a legal or moral right for making a claim) and urgency (i.e., the degree to which a stakeholder's claim demands instantaneous response) of their claims when deciding whether to favor shareholding or non-shareholding stakeholders (Mitchell et al 1997;Parent and Deephouse 2007). As these stakeholder attributes might also play a role in (potential) investors' investment intentions, we controlled for these perceived attributes in our analyses.…”

Section: Control Variablesmentioning

confidence: 99%

“…Against this background, a wealth of research has dealt with the question of how CEOs handle stakeholder dilemmas and according to which factors they decide which stakeholders' claims to fulfill (e.g., Adams et al 2011;Mitchell et al 1997). However, there is a decisive research gap regarding the question of how (potential) investors react to corporate stakeholder management activities (Hillenbrand et al 2013).…”

Section: Introductionmentioning

confidence: 99%

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Investors’ reactions to companies’ stakeholder management: the crucial role of assumed costs and perceived sustainability

Schwarzmüller

Brosi

Stelkens³

et al. 2016

Bus Res

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Companies regularly have to address opposing interests from their shareholding and non-shareholding stakeholder groups. Consequently, a wealth of previous research has focused on how CEOs decide which stakeholder management activities to pursue and prioritize. In contrast, however, surprisingly little research has considered how (potential) investors react to a company's management of shareholding and non-shareholding stakeholders and what factors drive their reactions in such contexts. We seek to fill this gap in the literature by conducting an experimental scenario study (N = 997) in which investment behavior is analyzed in situations in which management has to make a trade-off between shareholders' and non-shareholding stakeholders' interests. Our results show that (potential) investors consider the assumed costs of fulfilling non-shareholding stakeholders' interests and the perceived sustainability of doing so for corporate success when making investment decisions in such contexts. In cases of low costs or high sustainability, participants were more willing to invest in a company that favored nonshareholding over shareholding stakeholders (thereby deciding against their immediate financial interests), while the opposite was true in cases of high costs or low sustainability. With these results, our paper broadens stakeholder theory's focus by taking individual investors' reactions to corporate stakeholder management into account. Moreover, it both provides evidence for and extends the ''Enlightened & Tanja Schwarzmüller

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Section: Control Variablesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Investors’ reactions to companies’ stakeholder management: the crucial role of assumed costs and perceived sustainability

Schwarzmüller

Brosi

Stelkens³

et al. 2016

Bus Res

View full text Add to dashboard Cite

show abstract

“…A school can be considered responsible when involves stakeholders and establishes a trust relationship with them. The dialogue and the involvement with stakeholders (Freeman, 1984;Clarkson, 1995;Donaldson & Preston, 1995;Mitchell et al, 1997) represent a prerequisite of any social reporting process, according to the literature and the national and international standards relating to the theme of social reporting (ISEA, 1999(ISEA, , 2008(ISEA, , 2011WBSCD, 2002;GBS, 2007GBS, , 2013GRI, 2013;United Nations Global Compact Office, 2013). This process, called stakeholders engagement, should be considered the core of any social reporting process (Owen et al, 2001;Foster & Jonker, 2005;Greenwood, 2007;Unerman, 2007).…”

Section: Review Of European Studiesmentioning

confidence: 99%

Social Reporting in Italian Public Schools in Theory and Practice

Raucci¹,

Agostinone²,

Tarquinio³

2016

RES

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Some of the challenges that schools are currently facing include the stakeholders engagement, the necessity to open schools to the local territory and the need to be accountable for activities and results.The Italian reform of the school system has required schools to overcome their self-referentiality and to make themselves more accountable to stakeholders. The social reporting process can be considered as an effective response to enable schools to become accountable, triggering fruitful stakeholder engagement processes and, at the same time, implementing a management tool. This is an exploratory research paper. It aims to describe, through a questionnaire, the awareness and dissemination degree of social reporting in Public schools located in Southern Italy given the particularities of this area. Frequency percentage and descriptive statistical methods are used to interpret findings. Results show that, although social reporting is well known in theory, it is still under-used by schools in practice.

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“…19 Mitchell, Agle and Wood (1997) distinguish three attributes according to which stakeholders can be classified from the point of view of a business: power, legitimacy and urgency. 20 The existence or lack of these attributes and their combinations, they claim, shape the importance and role of each stakeholder in relation to the business. Luoma-aho (2005) has argued for an additional attribute: frequency of contact.…”

Section: Stakeholder Relations As Social Capitalmentioning

confidence: 99%

Stakeholder relations as social capital in early modern international trade

Ojala

Luoma‐aho

2008

Business History

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Stakeholder relations that are available through networks of various sorts are one benefit from social capital. According to the stakeholder approach to organisations, those relationships that contain most of the important attributes - such as power, legitimacy, frequency of contact and urgency - hypothetically dominate the business environment. This has caused modern corporations to view chiefly the dominant stakeholders as important. This study tests the importance of these attributes in early modern international trade; in other words, which attributes played a major role in the relations between Finnish tradesmen and their foreign contacts? The archives of two major Finnish trading houses from 1781 to 1852 provide sources for studying these stakeholder relations. The results of the study seem to confirm the importance of legitimacy and power in stakeholder relations, but they particularly emphasise the significance of frequency and urgency. Furthermore, dealings repeated over time between the parties created a resource dependency, thus further underlining frequency and power as important stakeholder attributes.social capital, stakeholder relations, early modern business,

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Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts

Cited by 6,403 publications

References 28 publications

Investors’ reactions to companies’ stakeholder management: the crucial role of assumed costs and perceived sustainability

Investors’ reactions to companies’ stakeholder management: the crucial role of assumed costs and perceived sustainability

Social Reporting in Italian Public Schools in Theory and Practice

Stakeholder relations as social capital in early modern international trade

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