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Phillips, Robert. „Stakeholder Legitimacy“. Business Ethics Quarterly 13, Nr. 1 (Januar 2003): 25–41. http://dx.doi.org/10.5840/beq20031312.
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Abstract:This paper is a preliminary attempt to better understand the concept of legitimacy in stakeholder theory. The normative component of stakeholder theory plays a central role in the concept of legitimacy. Though the elaboration of legitimacy contained herein applies generally to all “normative cores” this paper relies on Phillips’s principle of stakeholder fairness and therefore begins with a brief description of this work. This is followed by a discussion of the importance of legitimacy to stakeholder theory as well as the general ambiguity of the term. A distinction is then drawn between normative and derivative legitimacy. Reference to this distinction helps distinguish between a relationship with the organization based on direct moral obligation and one based on the power to help or harm the organization. It is concluded that stakeholders who retain the ability to affect the organization are legitimate (derivatively), but that this legitimacy is derived from the moral obligation owed other (normative) stakeholders and that the two sorts of legitimacy are importantly different from one another. An example of the normative/derivative distinction at work in managerial decision making is elaborated upon and managerial and research implications are then suggested.
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Mitchell, Ronald K., Bradley R. Agle, James J. Chrisman und Laura J. Spence. „Toward a Theory of Stakeholder Salience in Family Firms“. Business Ethics Quarterly 21, Nr. 2 (April 2011): 235–55. http://dx.doi.org/10.5840/beq201121215.
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ABSTRACT:The notion of stakeholder salience based on attributes (e.g., power, legitimacy, urgency) is applied in the family business setting. We argue that where principal institutions intersect (i.e., family and business); managerial perceptions of stakeholder salience will be different and more complex than where institutions are based on a single dominant logic. We propose that (1) whereas utilitarian power is more likely in the general business case, normative power is more typical in family business stakeholder salience; (2) whereas in a general business context legitimacy is socially constructed; for family stakeholders, legitimacy is based on heredity; and (3) whereas temporality and criticality are somewhat independent in general-business urgency, they are linked in the family business case because of family ties and family-centered non-economic goals. We apply this theoretical framework to position and integrate the contributions to this special section of Business Ethics Quarterly on “Stakeholder Theory, Ethics, Corporate Social Responsibility, and Family Enterprise.”
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Reed, Darryl. „Stakeholder Management Theory: A Critical Theory Perspective“. Business Ethics Quarterly 9, Nr. 3 (Juli 1999): 453–83. http://dx.doi.org/10.2307/3857512.
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Abstract:This article elaborates a normative Stakeholder Management Theory (SHMT) from a critical theory perspective. The paper argues that the normative theory elaborated by critical theorists such as Habermas exhibits important advantages over its rivals and that these advantages provide the basis for a theoretically more adequate version of SHMT. In the first section of the paper an account is given of normative theory from a critical theory perspective and its advantages over rival traditions. A key characteristic of the critical theory approach is expressed as a distinction between three different normative realms, viz., legitimacy, morality, and ethics. In the second section, the outlines of a theory of stakeholder management are provided. First, three basic tasks of a theoretically adequate treatment of the normative analysis of stakeholder management are identified. This is followed by a discussion of how a critical theory approach to SHMT is able to fulfill these three tasks.
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Olsen, Tricia D. „Political Stakeholder Theory: The State, Legitimacy, and the Ethics of Microfinance in Emerging Economies“. Business Ethics Quarterly 27, Nr. 1 (05.12.2016): 71–98. http://dx.doi.org/10.1017/beq.2016.59.
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ABSTRACT:How does the state influence stakeholder legitimacy? And how does this process affect an industry’s ethical challenges? Stakeholder theory adopts a forward-looking perspective and seeks to understand how managers can address stakeholders’ claims to improve the firm’s ability to create value. Yet, existing work does not adequately address the role of the state in defining the stakeholder universe nor the implications this may have for subsequent ethical challenges managers face. This article develops a political stakeholder theory (political ST) by weaving together the political economy, stakeholder theory, and legitimacy literatures. Political ST shows how state policies influence stakeholder legitimacy and, in turn, affect an industry’s ethical challenges. This article integrates the concept of agonism to address the perennial tension between markets and states and its implications for firms and their managers. Political ST is then applied to the case of microfinance, followed by a discussion of the contributions of this approach.
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Omran, Mohamed A., und Dineshwar Ramdhony. „Theoretical Perspectives on Corporate Social Responsibility Disclosure: A Critical Review“. International Journal of Accounting and Financial Reporting 5, Nr. 2 (21.07.2015): 38. http://dx.doi.org/10.5296/ijafr.v5i2.8035.
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This study provides an extensive critical review of the theoretical perspectives applied on corporate social responsibility (CSR) disclosure literature. From a CSR standpoint we review and discuss, in detail, legitimacy theory, stakeholder theory, social contract theory, and signalling theory to identify the situations that suit each of these perspectives. The findings show that there is no universal theory applicable on corporate social responsibility disclosure for all situations or societies. While legitimacy theory suggests CSR disclosures are part of a process of legitimation, stakeholder theory offers an explanation of CSR accountability to stakeholders. Legitimacy theory seems to be more suitable for organizations working in developed countries, on the other hand, stakeholder theory appears to be most suitable for organizations working in developing countries; where a corporation can manage its stakeholders and the pressure to comply with existing legislation is less as compared to the developed countries. Social contract theory is appropriate for developed/emerged economies, as CSR disclosure exists due to an implicit social contract between business and society, which implies some indirect obligations of business towards society. Signalling theory will suit a situation where firms are competing for resources. A firm willing to demarcate from other firms will engage in more CSR practices. It is also important that the signal reaches the target audience by reporting on CSR.
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Mousa, Gehan A. „Stakeholder theory as an arch to manage successful legitimacy strategies“. International Journal of Critical Accounting 2, Nr. 4 (2010): 399. http://dx.doi.org/10.1504/ijca.2010.036178.
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Nufaisa, Nufaisa, und Binti Shofiatul Jannah. „MENGIDENTIFIKASI PERAN TEORI DAN KARAKTERISTIK PERUSAHAAN YANG DAPAT MEMPENGARUHI PENGUNGKAPAN CSR“. Behavioral Accounting Journal 3, Nr. 2 (19.12.2020): 181–94. http://dx.doi.org/10.33005/baj.v3i2.107.
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Corporate Social Responsibility (CSR) is a part of corporate business social activities as an effort to bring good impact on environmental issues. Information regarding social activities, both economic also non-economic, has attracted the attention of users of financial reports. The disclosure of corporate social responsibility to the public is still voluntary. The theoretical development of CSR is stakeholder theory and legitimacy theory. Both of these theories come from a political economy perspective which explains the motivation for social disclosure. Stakeholder theory try to clarify the credentials of stakeholders. Meanwhile, the legitimacy theory explains that voluntary disclosure is component of the legitimacy process. The disclosure of corporate social responsibility can also be influenced by company characteristics, such as firm size, profitability, company profile, the number of the board of commissioners, leverage, ownership structure, business age, company size, growth and industrial type. This paper aims to explain the motivation for CSR disclosure from a theoretical perspective and identify company characteristics that can influence CSR disclosure.
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Simoni, Lorenzo, Laura Bini und Marco Bellucci. „Effects of social, environmental, and institutional factors on sustainability report assurance: evidence from European countries“. Meditari Accountancy Research 28, Nr. 6 (02.05.2020): 1059–87. http://dx.doi.org/10.1108/medar-03-2019-0462.
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Purpose The purpose of this study is to extend existing knowledge on the determinants of sustainability report (SR) assurance practices. Four different theories – stakeholder theory, institutional theory, signaling theory and legitimacy theory – are used to formulate several hypotheses regarding the main factors that can influence a company’s decision to assure its SRs. Design/methodology/approach Using a sample of 417 listed organizations based in different European countries over five years, the effects of stakeholder commitment, country orientation toward sustainability, firm environmental performance and business ethics controversies on the decision to assure SRs are assessed. Findings The results show that a company’s decision to assure its SRs is motivated by the need to maintain good relations with its stakeholders (which is in line with stakeholder theory and legitimacy theory), as well as by the willingness to signal their sustainability performance (which is in line with signaling theory) and to gain legitimacy. On the contrary, business ethics controversies do not seem to be relevant to a company’s assurance practices. Originality/value This paper provides new insights into the influence that social, environmental and institutional factors have on assurance strategies. New factors that previous research does not investigate – environmental performance, business ethics controversies and corporate governance – are tested. Factors that are already investigated in the literature are considered from an original perspective of introducing alternative measures (e.g. for the scope of national sustainability policies).
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Ogata, Ken. „Stakeholder responses to government austerity: what happens when strong stakeholders fail to react?“ International Review of Administrative Sciences 83, Nr. 1 (10.07.2016): 129–48. http://dx.doi.org/10.1177/0020852315576711.
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Using stakeholder theory and a historical case study, I examine how key stakeholders failed to challenge the Alberta provincial government’s fiscal reforms, leading to the emergence of an unlikely champion in the Calgary hospital laundry workers. Notwithstanding that several prominent and powerful professional groups had the opportunity to oppose the government’s reforms, these groups either acquiesced or sought compromise individually with the government. This case calls into question the professions’ ability to protect public institutions under their domain. Points for practitioners In terms of potential implications for public administrators, this case provides an example of professional failure to intercede in the public interest, despite having the power and legitimacy to act according to stakeholder theory. This raises questions as to the circumstances under which professional groups will exercise their advocacy role. Unaddressed are the conditions under which relatively powerless demanding stakeholders can acquire power and legitimacy. Accordingly, administrators ‘relying’ upon established stakeholders as barometers of public opinion may misread public sentiment.
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Wang, Hong. „Theory Foundation of Corporate Environmental Responsibility“. Advanced Materials Research 726-731 (August 2013): 4203–11. http://dx.doi.org/10.4028/www.scientific.net/amr.726-731.4203.
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The target of Corporate Environmental Responsibility is for environmental protection. This article analyzes the theory foundation of it. With the view of sustainable development, social contract theory, legitimacy theory, stakeholder theory, circular economy theory and externality theory, enterprises will make achievement in Corporate Environmental Responsibility practice.
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Mohanadas, Nirmala Devi, Abdullah Sallehhuddin Abdullah Salim und Suganthi Ramasamy. „A Theoretical Review on Corporate Tax Avoidance: Shareholder Approach versus Stakeholder Approach“. GATR Journal of Finance and Banking Review 4, Nr. 3 (23.12.2019): 82–88. http://dx.doi.org/10.35609/jfbr.2019.4.3(1).
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Objective - Although corporate tax avoidance is a widely discussed topic in the literature, conflicts do emerge when it is analyzed through the context of primary corporate duty. Should companies, in managing their taxes, solely honor their obligation to increase shareholders' wealth or should they cater to the interests of all their stakeholders? Such conflicts are especially evident in the inconsistent empirical observations on how corporate tax avoidance relate to corporate social responsibility (CSR), which makes the dearth of theoretical analysis on this issue even more conspicuous. Taking into account the socio-political nature and human elements in corporate tax avoidance, theoretical analyses from social sciences' perspectives are becoming markedly crucial. Methodology/Technique – This paper critically reviews the extant literature for discussions on how corporate tax avoidance is influenced by the dissenting approaches towards primary corporate duty. Findings – By allowing an insight into how people act and the world they live in, these analyses form a constructive tool to rationalize and foretell managerial actions towards shareholders and stakeholders alike. Novelty – It focuses particularly on the theories that are widely used to lend supports for such approaches. These theories are the agency theory, stakeholder theory, and legitimacy theory. Type of Paper - Review. Keywords: Corporate Tax Avoidance; Corporate Social Responsibility (CSR); Theoretical Analysis; Shareholder Approach; Stakeholder Approach; Agency Theory; Stakeholder Theory; Legitimacy Theory. JEL Classification: G30, G32, G39.
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Siahaan, Verdinand Robertua. „Multi-stakeholder Initiative for Sustainable Development: An English School Perspective“. JURNAL SOSIAL POLITIK 2, Nr. 1 (13.09.2017): 156. http://dx.doi.org/10.22219/sospol.v2i1.4763.
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AbstrakKolaborasi perusahaan multinasional, organisasi masyarakat sipil dan pemerintah sangat penting untuk melaksanakan pembangunan berkelanjutan. Munculnya inisiatif multi-stakeholder dianggap sebagai solusi untuk membawa pelaku yang berbeda bekerja sama dalam melindungi lingkungan dan pengelolaan pembangunan. Namun, kritikus berpendapat bahwa MSIs mengalami kekurangan akuntabilitas, legitimasi dan efektivitas. Penelitian ini akan menggunakan English School Theory (EST) untuk mengatasi perdebatan dengan menggunakan studi kasus tahun 2002 World Summit on Sustainable Development (WSSD) atau konferensi Johannesburg. Pertanyaan penelitian ini adalah bagaimana memahami MSIs untuk pembangunan berkelanjutan menggunakan EST. Artikel ini menggunakan kerangka kerja konseptual untuk mengevaluasi legitimasi, efektivitas dan akuntabilitas MSIs untuk pembangunan berkelanjutan.Kata kunci : korporasi multinasional, multi-stakeholder initiative AbstractCollaboration of multinational corporation, civil society organizations and governments is critical in implementing sustainable development. Emergence of multi-stakeholder initiatives is considered as a solution to bring different actors work together in protecting environment and managing development. However, the critics argue that MSIs are lack of accountability, legitimacy and effectiveness. This research will use English School Theory (EST) to address this debate with the case study of 2002 World Summit on Sustainable Development (WSSD) or Johannesburg conference. The research question is on how to understand MSIs for sustainable development using EST. This article advances a conceptual framework for evaluating the legitimacy, effectiveness and accountability of MSIs for sustainable development.Keywords : multinational corporation, multi-stakeholder initiative
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Fornaciari, Luca, und Caterina Pesci. „Global financial crisis and relevance of GRI disclosure in Italy. Insights from the stakeholder theory and the legitimacy theory“. FINANCIAL REPORTING, Nr. 1 (Februar 2018): 67–102. http://dx.doi.org/10.3280/fr2018-001003.
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In this study, we examine the effects of voluntary disclosure on the market value of Italian-listed companies adopting GRI guidelines, interpreting our results in the light of both stakeholder theory and legitimacy theory. From a methodological viewpoint, an index is used to measure the level of disclosure of human resources and environmental information. We consider a sample of firms listed on the Milan Stock Exchange for an eleven-year period (2004-2014). The period chosen gave us the opportunity to assess the value-relevance of environmental and social information before and during the Global Financial Crisis. We supplement the previous literature on the topic of the relationship between social and environmental disclosure and value-relevance by arguing that sustainability tools have to be evaluated, remembering that they express a notion of value in the long term and provide information to a large number of stakeholders. Our findings show that environmental information is only value-relevant during the crisis period, when the shareholder perspective comes more into line with other stakeholder perspectives because they are seeking a middle-to-long run notion of value. Finally, we find that a high level of GRI information disclosure is positively evaluated by investors; this result is important also because it was obtained in the Italian market which is largely considered inefficient, and thus it supports the urgent need to provide high-quality information in each type of market.
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Stratling, Rebecca. „The legitimacy of corporate social responsibility“. Corporate Ownership and Control 4, Nr. 4 (2007): 80–88. http://dx.doi.org/10.22495/cocv4i4p6.
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Based on deliberations on the legitimacy of CSR from the perspective of stakeholder and legitimacy theory on the one hand and the more critical view of Milton Friedman and Michael Jenson on the other hand, this paper analyses how major energy companies legitimise their CSR activities in their Annual Reports and their CSR reports. The research indicates that managers recognise the potential contribution of CSR to long-term financial performance of firms as well as the need to socially legitimise the firm’s operations. A surprisingly limited number of the companies in the sample take a very explicit strategic approach to CSR by stressing long-term shareholder value maximisation. The CSR policies therefore appear not to focus solely on a strategic stakeholder approach geared towards maximising shareholder value but to reflect considerations raised by legitimacy theory
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Benn, S., R. Abratt und B. O’Leary. „Defining and identifying stakeholders: Views from management and stakeholders“. South African Journal of Business Management 47, Nr. 2 (30.06.2016): 1–11. http://dx.doi.org/10.4102/sajbm.v47i2.55.
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The focus of an organisation’s marketing efforts has shifted in recent years from satisfying customer needs to value creation for stakeholders. The purpose of this research is to establish how the senior management of an organisation define and identify stakeholders. The organisation’s stakeholders are then asked to identify their role as stakeholders. The research employed a qualitative research design. The subjects being the senior management of the South African subsidiary of one of the world’s largest paint manufacturers as well as a sample of the firm’s stakeholders. The results reveal a set of primary and secondary stakeholders that include some differences from current stakeholder theory. The results also confirm the importance of legitimacy as well as the new finding of the importance of reciprocity in stakeholder attributes. From a marketing point of view the focus of the organisation should not be on customers alone but include all stakeholders. This will mean that organisations should focus on stakeholder satisfaction and developing strategies that recognize the importance of all legitimate stakeholders.
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Singh, Shubham, und Shashank Mittal. „Analysis of drivers of CSR practices’ implementation among family firms in India“. International Journal of Organizational Analysis 27, Nr. 4 (02.09.2019): 947–71. http://dx.doi.org/10.1108/ijoa-09-2018-1536.
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Purpose Differences in institutional environment and governance structures pave the way for heterogeneous nature of different businesses; this, in turn, shapes the way various sections of society act toward each other enacting their responsibilities. Taking into account the unique institutional environment and governance structures of firms in developing economies, this paper aims to build on the “stakeholder theory” to address the issue of the implementation of corporate social responsibilities (CSR) practices in these economies, particularly India. This paper also aims to uncover the saliency (legitimacy and power) of different stakeholder groups on different aspects of a firm’s CSR activities. Further, as most of the firms in developing economies are family-run firms, the paper examines role of organizational leadership in shaping firms’ CSR strategies. Design/methodology/approach Integrating literature on “stakeholder theory” and CSR, this paper examines the implementation of different CSR practices by family-run firms in India. This paper uses survey research to collect data from 80 privately held family firms operating in apparel and textiles industry in India. The data have been collected from respondents holding top leadership positions in the sample firms. Findings The findings indicate that pressure from primary stakeholders (i.e. customers, employees and shareholders) and CSR-oriented leadership belief significantly influence organizational implementation of CSR practices, whereas pressure from secondary stakeholder (i.e. community groups and non-governmental organizations) was found to be insignificant. Further, CSR-oriented leadership belief moderated the relationship between primary stakeholder pressure and organizational implementation of CSR practices. The findings equally highlighted lower saliency of secondary stakeholder’s legitimacy and power because of weak institutional mechanisms, while on the other hand, the primary stakeholders exert considerable power because of the direct nature of transactional legitimacy, further accentuated by the governance structure in family firms. Originality/value This paper is among the very few studies that address the issue of CSR among family-run businesses in developing economies. Existing frameworks on analyzing firm’s implementation of CSR practices does not recognize the inherent heterogeneity among different stakeholder groups. Recognizing that different stakeholders have different levels of influence over firms, this paper categorized the stakeholders’ groups into primary and secondary to analyze their differential impact over firms. Additionally, given the critical role of leadership belief in the implementation of CSR practices, this paper analyzed the moderated effect of CSR-oriented leadership belief toward developing a more robust model of CSR implementation.
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Fuadah, Luk Luk, Rika Henda Safitri und Yuliani Yuliani. „Ukuran Dewan, Ukuran Perusahaan, Leverage, Profitabilitas Berpengaruh terhadap Laporan Berkelanjutan Di Indonesia“. Akuisisi: Jurnal Akuntansi 14, Nr. 2 (14.10.2019): 70–77. http://dx.doi.org/10.24127/akuisisi.v14i2.285.
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Tujuan dari penelitian ini adalah untuk menguji ukuran dewan, ukuran perusahaan, leverage dan profitabilitas terhadap laporan keberlanjutan (sustainability reporting). Sampel dalam penelitian hanya berfokus pada perusahaan yang menerima penghargaan dari Indonesia Sustainability Reporting Awards (ISRA). Penelitian ini menggunakan teori agensi (agency theory) dan teori legitimasi (Legitimacy theory) dan teori stakeholder (Stakeholder theory). Temuan penelitian ini menunjukkan bahwa Ukuran perusahaan berpengaruh positif dan signifikan terhadap laporan berkelanjutan. Leverage juga berpengaruh negatif dan signifikan terhadap laporan berkelanjutan. Namun, ukuran dewan dan profitabilitas tidak signifikan berpengaruh terhadap laporan keberlanjutan. Kelemahan dari penelitian ini adalah bahwa sampel hanya berfokus pada perusahaan yang menerima ISRA, sehingga penelitian selanjutnya menggunakan lebih banyak sampel di bidang yang sama sebagai contoh sektor pertambangan untuk perusahaan listed di Bursa Efek Indonesia.Keywords:board size, company size, leverage, profitability, sustainability reporting
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Pérez, Andrea, Carlos López und María del Mar García-De los Salmones. „An empirical exploration of the link between reporting to stakeholders and corporate social responsibility reputation in the Spanish context“. Accounting, Auditing & Accountability Journal 30, Nr. 3 (20.03.2017): 668–98. http://dx.doi.org/10.1108/aaaj-11-2013-1526.
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Purpose Based on the principles of stakeholder theory, the purpose of this paper is to explore the relationship between the information reported to stakeholders in corporate social responsibility (CSR) reports and companies’ CSR reputation (CSRR). Design/methodology/approach The paper implements two regression models to test how reporting to stakeholders influences the CSRR of 84 companies included in the Spanish “MercoEmpresas Responsables” reputation index. Findings The results demonstrate that greater global reporting intensity to stakeholders does not necessarily mean a better CSRR. Contrarily, the reporting-reputation link depends on the intensity of reporting to specific stakeholders such as investors, regulators and the media. The findings are explained largely by the institutional, political and business characteristics of Spain after the Great Recession of 2007-2008. Research limitations/implications The evidence reported in this paper confirms stakeholder theory as an adequate framework to understand corporate reporting to stakeholders and its relationship with CSRR. The findings suggest that stakeholder salience (i.e. power, legitimacy and urgency) is a key concept for understanding the reporting-reputation link better in future research. Practical implications In the light of the findings, companies willing to use reporting to stakeholders as a tool to improve CSRR should establish regular mechanisms for monitoring stakeholder power, legitimacy and urgency, provide complete information to investors in their CSR reports and minimize the amount of detail provided to regulators and the media in their CSR reports. Originality/value There is still little empirical evidence concerning how the information to stakeholders contained in CSR reports influences the processes by which CSRR is built or destroyed. This paper contributes to the previous literature by describing how the global intensity of reporting to stakeholders and the intensity of reporting to different stakeholder groups relate to CSRR.
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Thanaya, Sayu Aryantini, und A. A. G. P. Widanaputra. „The Effect of CSR Disclosure On Firm Risk In Mining Companies Listed On IDX“. E-Jurnal Akuntansi 29, Nr. 2 (25.11.2019): 577. http://dx.doi.org/10.24843/eja.2019.v29.i02.p07.
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This research aims to obtain empirical evidence on the effect of corporate social responsibility disclosure on firm risk. This research was conducted on mining companies listed on Indonesia Stock Exchange in 2015-2017. The sample determination method is purposive sampling, with 109 observations. The data analysis technique used is simple linear regression analysis. Based on the research results, it is known that corporate social responsibility disclosure has a negative effect on firm risk. This means that the more CSR disclosure of a company, the lower the firm risk. The implications of the research results supports the signaling theory, stakeholder theory, and legitimacy theory, where risk management efforts are done by sending positive signals through the disclosure of CSR information, to gain the support and trust from the company's stakeholders, and increase the organization's legitimacy. On the other hand, this research provides additional information for all company stakeholders in making decisions.
Keywords : CSR Disclosure; Firm Risk; Mining.
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Ionescu, Bogdan-Ștefan, Liliana Feleagă und Luminița-Mihaela Dumitraşcu. „Does the shareholder salience influence the corporate social responsibility of entities from energy sector?“ Proceedings of the International Conference on Business Excellence 14, Nr. 1 (01.07.2020): 225–35. http://dx.doi.org/10.2478/picbe-2020-0021.
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AbstractThe stakeholder salience framework has become, over the past two decades, a tool often used to identify, asses and prioritize stakeholders and has demonstrated considerable theoretical and managerial implications. The objective of this paper is to determine to what extent stakeholder salience influences how different stakeholder categories are represented in the sustainability reports of entities from energy sector. In this respect, an interpretative content-based analysis of the social and environmental information disclosed by entities is used. The sample encompasses six energy entities that are comprised of Dow Jones Sustainability Europe Index (DJSI) constituent’s list on September 19, 2016. The results highlight that stakeholders who hold power have a high score of salience, being followed by those who possess legitimacy and then by those who possess urgency. The obtained results suggest the need to continue to focus on the normative theory of the stakeholders. The results also highlight that there is a link between the stakeholder salience, on the one hand, and the number and type of attributes held by each category of stakeholders, on the other hand. Stakeholders who hold power have a high score of salience, being followed by those who possess legitimacy and by those who possess urgency.
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A. Omran, Mohamed, und Ahmed M. El-Galfy. „Theoretical perspectives on corporate disclosure: a critical evaluation and literature survey“. Asian Review of Accounting 22, Nr. 3 (26.08.2014): 257–86. http://dx.doi.org/10.1108/ara-01-2014-0013.
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Purpose – The purpose of this paper is to provide an extensive and critical overview of the theoretical perspectives used in the accounting disclosure literature including economic theories, political and social theories. Design/methodology/approach – The paper reviews and discusses in details the positive accounting theory (PAT), agency theory, signalling theory, political economy theory (PET), stakeholder theory, legitimacy theory and contingency theory to identify the situations suit each of these perspectives. Findings – The main finding shows that there is no universal theory applicable for all situations or societies. For example, PAT is probably used when a corporation believes that its primary responsibility is to use its resources and engage in activities designed to maximise its profits. On the other hand, the PET seems to better explain why some corporations appear to respond to government or public pressure for information about their social impact. The agency theory provides the required framework to evaluate accounting choices and disclosure decisions in market-based studies. While the legitimacy theory seems to be more suitable for multinational corporations working in developed/democratic countries, the stakeholder theory seems to be most suitable for multinational corporations working in developing/dictator countries; whereas a corporation can manage its stakeholders. The contingency theory supports our main finding that different theories are required for different situations, as it clearly indicates that management's preferences of reporting practices are related to the nature of environmental and organisational constraints rather than their relative income effects. Originality/value – The paper contributes to the limited body of literature concerning the accounting disclosure theories and to identify the main theoretical perspective that can be used in the accounting disclosure research.
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Karim, Sitara, Norlida Abdul Manab und Rusmawati Binti Ismail. „Legitimising the Role of Corporate Boards and Corporate Social Responsibility on the Performance of Malaysian Listed Companies“. Indian Journal of Corporate Governance 12, Nr. 2 (01.11.2019): 125–41. http://dx.doi.org/10.1177/0974686219881092.
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The prime objective of this study is to investigate the legitimate role of corporate boards and corporate social responsibility on the performance of Malaysian listed companies during 2006–2017. Elements of corporate boards include board size, board independence and board diversity, whereas corporate social responsibility (CSR) dimensions constitute marketplace, environment, community and workplace. Both accounting-based (return on assets [ROA], return on equity [ROE]) and market-based (earnings per share [EPS]) performance measures have been employed for measuring performance. Pooled ordinary least squares method (OLS) and multiple regressions are used to estimate the dataset. Findings reveal larger board size and higher board independence positively affect firm performance and significantly legitimise the board role in firms. However, the presence of women on Malaysian corporate boards does not legitimate the performance due to their lower percentage on board, hence insignificantly affecting firm value. Additionally, out of four CSR dimensions, only marketplace is positively and significantly related to EPS and negatively and significantly related to ROA. Conversely, environment, community and workplace are insignificantly related to all performance measures, leaving firms in a questionable legitimate state. This study embraces support from agency theory, resource dependence theory, legitimacy theory and stakeholder theory. However, this research raises questionable insights for regulatory bodies and academicians in the form of corporate legitimacy.
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Beckman, Terry, Anshuman Khare und Maggie Matear. „Does the theory of stakeholder identity and salience lead to corporate social responsibility? The case of environmental justice“. Social Responsibility Journal 12, Nr. 4 (03.10.2016): 806–19. http://dx.doi.org/10.1108/srj-06-2015-0072.
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Purpose The purpose of this paper is to review a possible link between the theory of stakeholder identity and salience (TSIS) and environmental justice and suggest a possible resolution. Design/methodology/approach This is a conceptual paper which also uses examples from industry. Findings The TSIS is a common management approach that helps companies determine stakeholders’ priority in building relationships and making decisions. The weakness of this theory is that it suggests that stakeholders lacking power, legitimacy and urgency be de-prioritized. This can lead to vulnerable populations’ interests being subjugated to those of more powerful stakeholders, leading at times to environmental injustice. This occurrence can jeopardize a company’s social license to operate. Therefore, it is suggested that TSIS be embedded in a situational analysis where the legitimacy and urgency criteria are applied beyond just stakeholders. Research limitations/implications Further research should look at the results of modifying the TSIS such that vulnerable populations are not de-prioritized. Practical implications This paper provides a way for organizations to be more cognizant of vulnerable populations and include them in decision-making to help avoid situations of environmental injustice. Social implications If organizations can recognize the impact of their decisions on vulnerable populations and include them in the decision-making process, situations of environmental injustice might not occur. Originality/value This paper brings to light one weak aspect of a commonly used and well accepted theory and suggests a way to mitigate potential harm that at times may arise in the form of environmental injustice.
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Kaur, Amanpreet, und Sumit Lodhia. „Stakeholder engagement in sustainability accounting and reporting“. Accounting, Auditing & Accountability Journal 31, Nr. 1 (15.01.2018): 338–68. http://dx.doi.org/10.1108/aaaj-12-2014-1901.
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Purpose The purpose of this paper is to examine how stakeholders are engaged in the sustainability accounting and reporting processes of Australian local councils. Design/methodology/approach Managerial stakeholder theory through the use of the notion of stakeholder salience provides a theoretical basis for exploring stakeholder engagement in the sustainability accounting and reporting process. Case study research was used to explore the stakeholder engagement practices of three Australian local councils. Data collection methods included interviews and document analysis. Findings The findings of this research identified the importance of stakeholder engagement in the entire sustainability accounting and reporting process, the development of strategic plans and sustainability indicators, the measurement of sustainability performance and the preparation of sustainability reports. Research limitations/implications This study, by integrating the sustainability accounting and reporting literature with the stakeholder salience concepts of power, legitimacy, urgency and proximity, illustrates the critical role of stakeholder engagement in the sustainability accounting and reporting process of three local councils. Practical implications This study has implications for public sector organisations (PSOs) and their stakeholders in relation to stakeholder engagement in sustainability accounting and reporting. The findings of this study will also be useful to corporations in understanding the importance of stakeholder engagement in sustainability accounting and reporting. Social implications The public sector is expected to be a leader in sustainability and this paper provides evidence of three councils who through their stakeholder engagement provide exemplars of useful practices that could be adopted by other entities. Originality/value Prior research in PSOs has primarily focused on the sustainability accounting and reporting process but has given limited consideration to the involvement of stakeholders. The focus on stakeholder engagement through the use of managerial stakeholder theory extends the role of stakeholders from merely being an audience for sustainability reports to an influential contributor in the sustainability accounting and reporting process.
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HANINUN, Haninun, Lindrianasari LINDRIANASARI, Susi SARUMPAET, Agrianti KOMALASARI und Ardi GUNARDI. „Environmental Disclosure on Cost of Capital: Environmental Risk as a Moderator Variable“. Journal of Environmental Management and Tourism 10, Nr. 3 (17.07.2019): 530. http://dx.doi.org/10.14505//jemt.v10.3(35).08.
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The goal of this research is to test the effect of environmental disclosure on cost of capital. Also, to examines the environmental risk on its relationship on cost of capital. This study is derived on the stakeholder theory, legitimacy theory, and signaling theory. To implement the stakeholder theory, the companies can inform their environmental issues by disclosing their environmental management (Meng et al. 2014). They also disclose their environmental issue to fulfill both national and international regulation on environment to implement the legitimacy theory. Disclosure of environmental issue also indicates investor reliance. The larger disclosure will increase the more investor reliance (El Ghoul et al. 2011). Disclosure also indicate the signal of management to the investor. The design of this study is an explanatory research with quantitative approach. The populations in this study are the companies that listed on Indonesia Stock Exchange. The sampling technique based on purposive sampling. The data used is secondary data; consist of annual report of the company and financial report. The authenticity of this research is the first accounting study in Indonesia that examines environmental risks. The result shows that environmental risk can moderate the relationship between environmental disclosure and cost of capital.
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Balmer, John M. T. „The corporate identity, total corporate communications, stakeholders’ attributed identities, identifications and behaviours continuum“. European Journal of Marketing 51, Nr. 9/10 (12.09.2017): 1472–502. http://dx.doi.org/10.1108/ejm-07-2017-0448.
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Purpose This paper aims to introduce a new integrated strategic framework entitled, “The corporate identity, total corporate communications, stakeholders’ attributed identities, identifications and behaviours continuum” and elucidates the central and strategic importance of corporate identity apropos corporate communications, corporate image, attributed stakeholder identifications and resultant behaviours. The strategic importance of corporate identity is noted. The continuum incorporates a variety of disciplinary/theoretical perspectives. Design/methodology/approach The paper/framework is informed by corporate marketing and strategic perspectives; legal theory of the firm; social identity branch theories; and stakeholder theory. The effects and management of corporate identity are seen as a continuum. The framework accommodates Tagiuri’s (1982) scholarship on corporate identity. Findings This paper formally introduces and explicates “The corporate identity, total corporate communications, stakeholders’ attributed identities, identifications and behaviours continuum”. Corporate identity management is an on-going strategic senior management/strategic requisite. Notably, the legal theory of company law – routinely overlooked – and its impact on corporate identity management is accepted, acknowledged and accommodated. The importance of stakeholders and stakeholder identification (a derivative of social identity theory) is underscored. Practical implications Via the explication of the continuum, managers can comprehend the nature and importance of corporate identity; appreciate that corporate identity adaptation/change is on-going; comprehend its interface/s with corporate communications, stakeholder attributed identities, identifications and the business environment; understand the need for on-going fidelity to an institution’s legally based core purposes and corporate identity traits (juridical identity); cognise the efficacy of constant stakeholder and environmental analysis. Corporate identity sustainability requires corporate identity to be advantageous, beneficial, critical, differentiating and effectual. Stakeholder prioritisation is not solely dependent on power, legitimacy and urgency but on legality, efficacy, ethicality and temporality. Originality/value The resultant framework/approach, therefore, aims to make a meaningful advance on the territory and, moreover, seeks to be of utility to scholars and practitioners of corporate marketing, strategy and company law. Arguably, therefore, the framework is more ambitious than extant framework on the domain. The resultant framework/approach, therefore, aims to make a meaningful advance on the territory and seeks to be of utility to scholars and practitioners of corporate identity, communications, images, identification, stakeholder theory, company law and, importantly, corporate strategy.
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Sudaryanti, Dwiyani, und Yosevin Riana. „PENGARUH PENGUNGKAPAN CSR TERHADAP KINERJA KEUANGAN PERUSAHAAN“. Jurnal Penelitian Teori & Terapan Akuntansi (PETA) 2, Nr. 1 (11.01.2017): 19–31. http://dx.doi.org/10.51289/peta.v2i1.273.
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Teori yang melatarbelakangi dilakukannya CSR menunjukkan bahwa tindakan tersebut akan memberikan dampak positif bagi perusahaan, baik melalui legitimasi maupun dari tanggapan positif dari masyarakat. Penelitian ini bertujuan menguji secara empiris teori tersebut. Sampel diambil dengan kriteria tertentu atas populasi dari industri kimia yang terpublikasi dari tahun 2014-2015. Metode analisis dilakukan melalui uji regresi sederhana. Hasil penelitian menunjukkan bahwa semua hipotesis yang diajukan dalam penelitian ini tidak diterima. Ketiga kinerja keuangan (current ratio, ROA dan ROE) tidak dipengaruhi signifikan oleh pelaporan CSR. Implikasi hasil penelitian ini adalah meningkatkan kesadaran perusahaan pada pertanggungjawaban sosial perusahaan. Implikasi bagi masyarakat untuk memberikan wacana dan pengetahuan mengenai kegiatan CSR. Kata Kunci: Corporate Social Responsibility (CSR), kinerja keuangan, Legitimacy Theory, Stakeholder Theory
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Boyle, Mary-Ellen, Laurie Ross und Jennie C. Stephens. „Who has a stake? How stakeholder processes influence partnership sustainability“. Gateways: International Journal of Community Research and Engagement 4 (23.11.2011): 100–118. http://dx.doi.org/10.5130/ijcre.v4i0.1778.
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As universities attempt to expand their relevance by engaging with local and regional societal challenges, various kinds of partnerships are emerging. A broad range of stakeholders, from both the university and the community, are typically engaged in and influence the development, implementation and perpetuation of these partnerships. This paper juxtaposes analysis of three community-university partnerships in Worcester, Massachusetts, USA, paying particular attention to the partnerships’ stakeholders, and to their relative importance. This research builds upon current understandings of critical factors in partnership sustainability, as these three partnerships have different goals, involve different university and community stakeholders, and are at different points in their organisational history. The fact that they share the same context – the same city – offers a unique opportunity for comparative case study analysis. The theory of stakeholder salience is used to explain findings about partnership sustainability and to make suggestions for strengthening existing partnerships. Specifically, we argue that stakeholder power and legitimacy, along with stakeholder urgency, are key factors in sustaining community-university partnerships.
Keywords
Community-university partnerships; economic development; community development; stakeholder salience
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Weber, Libby, und Margarethe Wiersema. „Dismissing a Tarnished CEO? Psychological Mechanisms and Unconscious Biases in the Board’s Evaluation“. California Management Review 59, Nr. 3 (Mai 2017): 22–41. http://dx.doi.org/10.1177/0008125617712257.
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In today’s world, CEOs are frequently dismissed following corporate misconduct or poor performance. Yet, it is often difficult to predict when boards will dismiss the CEOs, as the same behavior often results in different decisions across firms. Taking a socio-cognitive perspective, this article explores the factors that lead a CEO to become tarnished. It then uses expectancy violation theory combined with attribution theory as well as stakeholder theory, concepts of legitimacy, and motivational theory to understand how the board evaluates the tarnished CEO.
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Alam, Md Kausar. „Rationality of fourth party in legitimacy theory: Shariah governance of Islamic financial institutions“. Journal of Islamic Accounting and Business Research 12, Nr. 3 (20.05.2021): 418–38. http://dx.doi.org/10.1108/jiabr-08-2019-0154.
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Purpose The purpose of this paper is to focus on conceptualizing the origin of legitimacy, the legitimation process and its trustworthiness toward the people, regulators, society and stakeholders. In achieving the purpose of the study, an inclusive research gap concerning the roles of the Shariah Supervisory Board (SSB) as a Shariah regulatory authority or an internal mechanism of Shariah Governance Framework (SGF) in the development and formation of Islamic financial institutions (IFIs) would also be addressed. Design/methodology/approach The paper implements an analytical approach to investigate the legitimation process of SSB, and its presence, significance, as well as credibility to the stakeholders. Findings This study proposes an additional authority of legitimacy, namely, SSB/Shariah regulatory authority, along with regulators, professionals and people. These could be derived from the internal mechanism of Shariah Governance (SG) practices of IFIs. The study also proposes another type of legitimacy (ethical/Shariah legitimacy) that derives from the organizational SG practices through its internal mechanisms. The formation of SSB is mandatory and more significant for the isomorphic identification of IFIs, SG system, legitimacy and broader acceptance to stakeholders. Research limitations/implications The rational argument shows that SSB legitimates the overall functions of IFIs, SG practices, processes and structures. It is more apposite because it has substantial validity, dominance, recognition and acceptability along with three external bodies. Besides, IFIs and their SG do not have the proper value to the general people, society, regulators and other stakeholders without the legitimization of SSB. Thus, theorists and academicians may consider SSB as the fourth party of legitimacy along with three legitimacy providing authorities (regulators, professionals and people). Originality/value The paper focuses on illustrating and extending the border knowledge concerning the legitimacy from SG and how do SSBs legitimize IFIs and enhance their credibility to the general people, government, society and other stakeholders. The paper first clarified the internal legitimacy concerning SGF and contributed to the area of Islamic finance, legitimacy, institutional theory, legitimacy theory and internal legitimacy.
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Boesso, Giacomo, und Kamalesh Kumar. „Examining the association between stakeholder culture, stakeholder salience and stakeholder engagement activities“. Management Decision 54, Nr. 4 (16.05.2016): 815–31. http://dx.doi.org/10.1108/md-06-2015-0245.
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Purpose – The purpose of this paper is to examine the association between stakeholder culture, stakeholder salience and firm response to stakeholder demands, based on the stakeholder culture framework. Design/methodology/approach – The study was conducted in a field setting involving 292 mid-level managers who completed measures of stakeholder culture and stakeholder engagement activities (SEAs) in their organizations. Findings – Results show that managers in organizations with different stakeholder cultures differentially ascribe and weigh the three attributes of power, legitimacy, and urgency when determining stakeholder salience. In addition, stakeholder culture is also associated with how managers respond to stakeholder issues in terms of SEAs. Research limitations/implications – Findings of the study justify the need to extend the stakeholder salience theory beyond the values of senior managers to include organization-level factors. This study is largely exploratory and the relationships that have been observed are associational in character. Practical implications – Results show that both ascription of stakeholder salience and the nature of SEAs are associated with stakeholder culture prevalent in an organization. This implies that managers may face constraints in managing stakeholder relationships, regardless of their personal values and beliefs, and may have to make deliberate efforts to modify the culture. Originality/value – Despite the fact that researchers have been urged to examine how organization-level phenomena guide managerial thinking and decision making with respect to stakeholder relationships, empirical research on the topic is lacking. This study contributes to the emerging research on firm-level perspective on stakeholder management.
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Liesen, Andrea, Andreas G. Hoepner, Dennis M. Patten und Frank Figge. „Does stakeholder pressure influence corporate GHG emissions reporting? Empirical evidence from Europe“. Accounting, Auditing & Accountability Journal 28, Nr. 7 (21.09.2015): 1047–74. http://dx.doi.org/10.1108/aaaj-12-2013-1547.
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Purpose – The purpose of this paper is to seek to shed light on the practice of incomplete corporate disclosure of quantitative Greenhouse gas (GHG) emissions and investigates whether external stakeholder pressure influences the existence, and separately, the completeness of voluntary GHG emissions disclosures by 431 European companies. Design/methodology/approach – A classification of reporting completeness is developed with respect to the scope, type and reporting boundary of GHG emissions based on the guidelines of the GHG Protocol, Global Reporting Initiative and the Carbon Disclosure Project. Logistic regression analysis is applied to examine whether proxies for exposure to climate change concerns from different stakeholder groups influence the existence and/or completeness of quantitative GHG emissions disclosure. Findings – From 2005 to 2009, on average only 15 percent of companies that disclose GHG emissions report them in a manner that the authors consider complete. Results of regression analyses suggest that external stakeholder pressure is a determinant of the existence but not the completeness of emissions disclosure. Findings are consistent with stakeholder theory arguments that companies respond to external stakeholder pressure to report GHG emissions, but also with legitimacy theory claims that firms can use carbon disclosure, in this case the incomplete reporting of emissions, as a symbolic act to address legitimacy exposures. Practical implications – Bringing corporate GHG emissions disclosure in line with recommended guidelines will require either more direct stakeholder pressure or, perhaps, a mandated disclosure regime. In the meantime, users of the data will need to carefully consider the relevance of the reported data and develop the necessary competencies to detect and control for its incompleteness. A more troubling concern is that stakeholders may instead grow to accept less than complete disclosure. Originality/value – The paper represents the first large-scale empirical study into the completeness of companies’ disclosure of quantitative GHG emissions and is the first to analyze these disclosures in the context of stakeholder pressure and its relation to legitimation.
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Muttakin, Mohammad Badrul, Dessalegn Getie Mihret und Arifur Khan. „Corporate political connection and corporate social responsibility disclosures“. Accounting, Auditing & Accountability Journal 31, Nr. 2 (19.02.2018): 725–44. http://dx.doi.org/10.1108/aaaj-06-2015-2078.
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Purpose The purpose of this paper is to examine the association of corporate political connection with the level of voluntary corporate social responsibility (CSR) disclosures to determine how the relationships between the state and the corporate sector influence CSR engagement. Design/methodology/approach Based on a neo-pluralist view of legitimacy theory, which conceptualizes the state as a concentration of power amenable to exploitation by the corporate sector, the study develops and empirically tests a hypothesis that CSR disclosures are inversely associated with political connection. A sample of 936 firm-year observations is used with data collected from annual reports of companies listed on the Dhaka Stock Exchange in Bangladesh from 2005 to 2013. Findings Results indicate that corporate political connection is associated with reduced CSR disclosures. This finding suggests that the perceived need for CSR disclosures as a legitimation strategy diminishes for politically connected firms. The finding supports a neo-pluralist argument that political connection could enable firms to eschew stakeholder pressure associated with potential legitimacy threats originating from poor CSR performance. This conclusion challenges the pluralist view of legitimacy theory that considers the state as a neutral arbiter resolving conflict among stakeholder groups in society. Originality/value The study makes a significant contribution to the literature by developing a neo-pluralist theorization of voluntary CSR disclosures within legitimacy theory and empirically testing it. Because prior empirical CSR disclosure research is largely underpinned by the pluralistic conception of society, examining this phenomenon from a neo-pluralist perspective enables a more complete understanding of CSR disclosure behaviors of firms.
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Benn, Shaun, Russell Abratt und Nicola Kleyn. „Reducing reputational risk“. Marketing Intelligence & Planning 34, Nr. 6 (05.09.2016): 828–42. http://dx.doi.org/10.1108/mip-10-2015-0191.
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Purpose The purpose of this paper is to establish how executive managers in a South African organisation prioritise and manage reputational risks arising from stakeholder claims. The authors establish how corporate reputation and reputational risk fits into their decision making when considering stakeholder claims. Design/methodology/approach The authors conducted in-depth interviews with the top management of a South African paint manufacture. They identified eight stakeholder claims and discussed how they assessed and addressed each one. Findings Respondents identified highly, moderate, and low salient claims. They reported on how they dealt with these different claims in terms of the attributes of power, legitimacy, and urgency. Originality/value This is an empirical theory-testing study of how managers deal with stakeholder claims. The authors establish how corporate reputation and reputational risk fits into their decision making when considering stakeholder claims. The authors suggest that managers must not only understand who their stakeholders are, but need to evaluate the impact of stakeholder claims in order to manage reputational risk.
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Agné, Hans, Lisa Maria Dellmuth und Jonas Tallberg. „Does stakeholder involvement foster democratic legitimacy in international organizations? An empirical assessment of a normative theory“. Review of International Organizations 10, Nr. 4 (28.01.2015): 465–88. http://dx.doi.org/10.1007/s11558-014-9212-6.
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Beske, Felix, Ellen Haustein und Peter C. Lorson. „Materiality analysis in sustainability and integrated reports“. Sustainability Accounting, Management and Policy Journal 11, Nr. 1 (06.01.2020): 162–86. http://dx.doi.org/10.1108/sampj-12-2018-0343.
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Purpose This paper aims to assess the disclosure on materiality analysis in sustainability and integrated reports through the lenses of legitimacy and stakeholder theory. The following three research questions are addressed: to what extent do companies report on their materiality analysis, what are the methods used for the analysis of the stakeholders and their topics/aspects and is there a higher disclosure of information of materiality assessment because of G4. Design/methodology/approach The paper uses an archival research approach and deploys content analysis. Thus, a binary disclosure index was developed that indicates whether materiality related information are mentioned and explained in detail. The sample contains 132 reports from 33 companies of the German 110 HDAX stock market index between 2014 and 2017. Findings The paper reveals that materiality analysis is a growing phenomenon. Nevertheless, companies disclose only a small amount of related information and fail to explain the methods for the stakeholder and topics/aspects identification. Thus, the underlying processes to define the report content remains unclear. Through the lenses of legitimacy theory, the study indicates that materiality analysis can strategically be misused to define report content without considering the interests of legitimized stakeholder groups and thus, does not improve the reports to those groups. Practical implications Managers are urged to regard the importance of reporting about ongoing materiality assessments, as otherwise, concerns about the overall reliability of the information presented may arise. Social implications Poor reporting about materiality assessments might lead to potential conflicts with stakeholders that do see their important topics not sufficiently reflected in the sustainability or integrated report. Originality/value This study contributes to the literature regarding materiality in sustainability and integrated reporting and uses the assumptions of disclosure theories to evaluate the disclosure of a specific disclosure item.
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Bianchi, Maria Teresa, Patrícia Monteiro, Graça Azevedo, Jonas Oliveira, Rui Couto Viana und Manuel Castelo Branco. „Political connections and corporate social responsibility reporting in Portugal“. Journal of Financial Crime 26, Nr. 4 (07.10.2019): 1203–15. http://dx.doi.org/10.1108/jfc-10-2018-0111.
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Purpose This paper aims to examine the relation between firms’ political connections and corporate social responsibility (CSR) reporting in Portugal. The authors argue that in settings where the existence of political connections are viewed as damaging collective interests of stakeholders, political connected firms can deal with legitimacy issues from such connections by resorting to CSR practices and the reporting thereof. Design/methodology/approach Using archival data from a panel sample of 36 firms from Portugal between 2009 and 2012, the authors examine the relationship between political connections and CSR reporting by way of regression analysis. Findings The authors find a positive relationship between political connections and CSR reporting. Originality/value This study draws on legitimacy theory to highlight that CSR can be used to deal with stakeholder activism and vigilance pertaining to suspicion related to the existence of political connections.
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Hadi, Nor. „Measuring Corporate Social Responsibility Performance for Employees with an NH Approach Method“. IQTISHADIA 11, Nr. 2 (27.09.2018): 243. http://dx.doi.org/10.21043/iqtishadia.v11i2.4096.
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<p>This article explains the empirical research results of the social responsibility performance measurement model for employees that is done by companies by using the NH Approach method. Social responsibility needs to be measured to see the effectiveness of the social responsibility done by a company, as well as to provide legitimacy for stakeholders regarding the company’s volunteer efforts in carrying out its responsibilities. The NH Approach is an integrated social responsibility measurement model that was developed based on the legitimacy theory and the stakeholder theory. An evaluation is conducted from two sides, from the stakeholder side as the recipient of social responsibility assistance, and the company management side as the social responsibility assistance provider.</p><p>The study used a research and development approach, where the respondents numbered 98 individuals with a response rate level of 92% (90 respondents who returned the questionnaires). From the 90 questionnaires submitted, only 62 of them were considered complete and analyzed.</p><p>The research results reveal that the practice of social responsibility that was done by the company has a grade of Unsatisfactory (C), because the social responsibility index has a score of 62.39. Several factors act as the triggers, including misunderstandings between parties in understanding social responsibility, underdeveloped social responsibility programs that have already been conducted, and limited social responsibility practice, so that the programs implemented cover various elements of social responsibility.</p>
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Alam, Md Kausar, und Muhammad Shahin Miah. „Independence and effectiveness of Shariah supervisory board of Islamic banks: evidence from an emerging economy“. Asian Review of Accounting 29, Nr. 2 (28.01.2021): 173–91. http://dx.doi.org/10.1108/ara-01-2020-0005.
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PurposeThe main objective of the study is to ascertain the level of independence and the effectiveness of the Shariah Supervisory Board (SSB) members of Islamic banks in Bangladesh. This is because only SSB members are empowered to oversee and certify the overall business functions of Islamic banks.Design/methodology/approachThis paper implements qualitative case research approach to explore the research objective in the context of Bangladesh. We applied purposeful and snowball sampling tactics for selecting respondents. By using a semi-structured questionnaire and face-to-face interviews, we collect data from SSB members, central bank executives and experts in Islamic banking and Shariah governance.FindingsThe study finds that majority Islamic banks' SSB's positions are similar to the Board of Directors (BOD) of the banks. Next, this study finds that in recruiting/selecting SSB members, some banks do not follow the guidelines of the central bank. This study finds mixed evidence regarding the independence of the members of the SSB. Most of the respondents opined that SSBs do not have power; in some cases, members of SSB are not independent and seeming powerless as BOD selects and recruits them. In contrast, they are dependent on management in respect of strategy implementation.Research limitations/implicationsThe study significantly contributed to the national and global regulatory bodies by identifying an important governance determinant of Islamic banks that is the independence of SSB members, which is highly important for both Shariah functions, and to enhance the trust level of the stakeholders. This study makes a theoretical contribution by documenting the violation of stakeholder theory and agency theory in recruiting SSB members by BOD's choice. The lack of SSB members' independence has an impact on Shariah legitimacy of the Islamic banks which is contradictory with the notion of legitimacy theory. This study recommends the central bank to ensure the independence of the SSB and central bank should take initiatives to develop an environment for the Islamic banking sector.Originality/valueThis study extends the literature of corporate governance relating to Islamic banking and financial institutions. More specifically, this paper explores the necessity of independence of members of the monitoring body (here SSB), an important constituent of governance, to ensure high-quality governance and transparency in reporting to increase diverse stakeholders' trust/confidence. The absence of independence of SSB in performing their functions contradicts with the agency, stakeholder and legitimacy theory, which is inconsistent with global evidence, that demands further investigations.
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Seibert, Rosane Maria, und Clea Beatriz Macagnan. „Social responsibility disclosure determinants by philanthropic higher education institutions“. Meditari Accountancy Research 27, Nr. 2 (08.04.2019): 258–86. http://dx.doi.org/10.1108/medar-04-2018-0328.
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PurposeThis paper aims to explain the extent of social responsibility disclosure by Brazilian philanthropic higher education institutions (PHEIs). This paper assumes that there is information asymmetry between these organizations and their stakeholders.Design/methodology/approachThe presence of indicators on the organizations’ webpage generated a disclosure index for each PHEI of the sample. Afterwards, this paper performed regression tests, which identified the determinants of PHEIs social responsibility disclosure extent.FindingsThe results support the legitimacy theory as a theoretical basis for social responsibility disclosure extent. The evidenced indicators and the non-rejected hypotheses, related to complexity, diversification, regional factor, specific event and quality, confirm the concern with transparency and accountability of commitments assumed by the social contract.Research limitations/implicationsThis research is limited to social responsibility disclosure related to the legitimacy theory and the interests of some stakeholders and to Brazilian PHEIs and their webpages. These limitations mean opportunities for future research studies addressing different information disclosure, foundations of other theories, interests of each specific stakeholder or other stakeholders in other communication channels and other countries, which enable comparisons of results.Practical implicationsThe disclosure of extent determinants serve as the basis for the establishment of disclosure and accountability policies for PHEIs.Originality/valueThe originality of this research consists of analyzing the determinants of disclosure from the information of the stakeholders’ interest. They are able to legitimize organizations, allowing them to remain in the community where they operate.
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Islam, Mohammad Tazul, und Katsuhiko Kokubu. „Corporate social reporting and legitimacy in banking: a longitudinal study in the developing country“. Social Responsibility Journal 14, Nr. 1 (05.03.2018): 159–79. http://dx.doi.org/10.1108/srj-11-2016-0202.
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PurposeThe purpose of this paper is to examine the development of corporate social (CS) reporting in the developing country’s banking industry from the legitimacy theory perspective – Bangladesh as a case.Design/methodology/approachThis study uses the longitudinal aspects and analyzes the content of annual reports using the ISO26000 standard with some country- and industry-specific adjustments as the method of data coding. All Dhaka Stock Exchange-listed banks (30 of 47, 2013) and 282 annual reports with 46 reporting items have been used for data analysis during a 10-year period (2004-2013). A CS reporting index has been constructed for this purpose of analysis.FindingsThe key findings are that the main impetus driving the development of CS reporting was the stakeholder initiatives; the CS reporting index was less than 20 in 2004, and it increased linearly and reached around 60 in 2013 because of the legitimization of the new banking process through social perceptions. This study explains that the contemplation of the legitimacy theory argument can similarly be applied to the developing countries as well as to the banking industry’s context.Research limitations/implicationsThe main implication of this study is the extension of the broader thrust of the legitimacy theory argument in the developing country’s banking industry, such as that of Bangladesh.Originality/valueThis study contributes to the documentation of the CS reporting practices of the developing country’s banking industry where there is a lack of published longitudinal studies from the legitimacy theory perspective.
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Krambia-Kapardis, Maria. „Disentangling anti-corruption agencies and accounting for their ineffectiveness“. Journal of Financial Crime 26, Nr. 1 (07.01.2019): 22–35. http://dx.doi.org/10.1108/jfc-01-2018-0016.
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Purpose The purpose of this paper is to provide an adequate account of anti-corruption agency (ACA) ineffectiveness and propose the kind of ACA that would hold the promise of success. The paper draws on legitimacy theory, legal process and the notion of integrity of purpose. Design/methodology/approach This paper contextualizes the establishment and proliferation of ACAs; explores different ways of conceptualizing them; examines the broad range of factors that have underpinned ACA ineffectiveness and utilizes both legitimacy theory and the notion of the integrity of purpose. Findings The one-ACA-model-fits-all approach in corruption-control has been an abysmal failure. Disentangling the reasons for ACA ineffectiveness reveals various endogenous and exogenous factors. It also emphasizes the crucial importance of integrating both legitimacy theory and integrity of purpose in a revamped ACA concept that meets the corruption-control challenge. Practical implications It is possible to design and implement an effective ACA by avoiding various factors that have been shown to seriously undermine corruption control efforts by also drawing on legitimacy theory, legal process and integrity of purpose. Social implications Corruption in both the public and private sectors cannot be controlled in isolation from other socio-economic problems. An effective ACA is one that fosters integrity and is considered legitimate by its stakeholders. Originality/value While there have been some articles the past two decades discussing the effectiveness of ACAs in particular countries, this is the first paper to account for the overall ACA ineffectiveness also using legitimacy theory, legal process and integrity of purpose to revamp the ACA concept.
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Lippai-Makra, Edit, und Zsolt Rádóczi. „A vállalkozások közzétételi gyakorlatának elméleti megközelítése = Theoretical Aspects of Accounting Disclosure“. Köz-gazdaság 16, Nr. 2 (20.06.2021): 196–206. http://dx.doi.org/10.14267/retp2021.02.15.
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A vállalkozások közzétételi gyakorlata folyamatosan változott az elmúlt évtizedekben a változó jogi, gazdasági és társadalmi környezet hatására. Egyre több kutatás foglalkozik a közzétételi motivációs tényezőkkel, valamint a vállalati információk közlésével foglalkozó elméletekkel (érdekhordozói elmélet, megbízó-ügynök elmélet, jelzéselmélet, legitimitás elmélet). Tanulmányunkban kísérletet teszünk ezen ösztönző tényezők csoportosítására, valamint bemutatjuk a fenti elméleteket. = Business disclosure practices have changed progressively in recent decades as a result of the changing legal, economic and social environment. More and more research is dealing with the motivational factors of disclosure as well as theories dealing with the disclosure of corporate information (stakeholder theory, principal-agent theory, signaling theory, legitimacy theory). In our study, we attempt to group these motivating factors and present the above theories.
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Alexander, David, Adriana Tiron-Tudor und Ioana Dragu. „Implications of corporate accountability on civil society“. Meditari Accountancy Research 26, Nr. 1 (09.04.2018): 145–69. http://dx.doi.org/10.1108/medar-10-2017-0233.
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Purpose This paper aims to focus on corporate accountability, analysing the case of Rosia Montana Gold Corporation (RMGC) from the perspective of civil society, acting as a significant stakeholder. Design/methodology/approach The authors ground the research on legitimacy theory, as the paper presents the company’s efforts to obtain the approval/legitimacy from one of its main vocal stakeholders: civil society. The paper presents the historical background of the Rosia Montana region, and then explains the stages of the RMGC project development, together with the company’s actions to be recognised by the local environment. They also investigate the corporate reports issued by Rosia Montana Gold Corporation, especially in and after 2010. Findings The results show that RMGC failed to gain the legitimacy of the Romanian society, and the authors discuss causes and implications. Originality/value This research brings a valuable contribution to the corporate reporting literature, being one of the first studies on the state of reporting in Romania in the mining sector, analysing the implications of the relationship between corporate accountability and civil society.
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Bullock, Graham. „Signaling the credibility of private actors as public agents: transparency, independence, and expertise in environmental evaluations of products and companies“. Business and Politics 17, Nr. 2 (August 2015): 177–219. http://dx.doi.org/10.1017/s1369525800001625.
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Private firms are increasingly being regarded as moral agents of their stakeholders and the broader public. Stakeholders can use different types of evaluation organizations to monitor this division of moral labor, but must also monitor the credibility of this second layer of moral agents. This paper uses agency, signaling, and legitimacy theory to develop a novel conceptual framework showing how both firms and evaluation organizations send signals of their credibility as moral agents to earn grants of legitimacy from their moral stakeholders. The paper also describes how three specific characteristics of ratings and certifications – transparency, expertise, and independence – may signal different forms of credibility, appeal to particular stakeholder groups, and elicit different forms of legitimacy. A content analysis of the websites of 245 eco-labels, sustainability ratings and other forms of environmental evaluations reveals the multi-dimensional nature of these three characteristics, and finds that transparency is the most commonly-sent signal of credibility, followed by independence and then expertise. These results highlight the complexity of existing signals of credibility, and suggest several strategies – including voluntary credibility standards and a virtual information marketplace – that both private and public actors can pursue to improve the quality and accessibility of these signals of credibility.
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Goodman, Jennifer, und Daniel Arenas. „Engaging Ethically: A Discourse Ethics Perspective on Social Shareholder Engagement“. Business Ethics Quarterly 25, Nr. 2 (April 2015): 163–89. http://dx.doi.org/10.1017/beq.2015.8.
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ABSTRACT:The primacy of shareholder demands in the traditional theory of the firm has typically excluded marginalised stakeholder voices. However, shareholders involved in social shareholder engagement (SSE) purport to bring these voices into corporate decision-making. In response to ethical concerns about the legitimacy of SSE, we use the lens of discourse ethics to provide a normative analysis at both action and constitutional levels. By specifying three normative questions, we extend the analysis of SSE to identify a political role for shareholders in pursuit of the common good. We demonstrate the desirability for SSE to promote regulatory/institutional change to guarantee marginalised stakeholders a voice in corporate decisions that affect them. The theory of SSE we propose thus calls into question the stark separation of the political and economic spheres and reveals an underlying tension, often overlooked, within the responsible investment literature.
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Bazanini, Roberto, und Ernesto Michelângelo Giglio. „The role of stakeholders in Solomon’s Temple: an exploratory study“. Organizações & Sociedade 24, Nr. 83 (Dezember 2017): 674–90. http://dx.doi.org/10.1590/1984-9240837.
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Abstract This paper aims to describe the role of stakeholders in the symbolic goods market of religion. Drawing on qualitative research, and based on the salience model of stakeholders, the objective is to analyze the importance of Solomon’s Temple megachurch to the Universal Church of the Kingdom of God (UCKG) as a competitive factor in the market of religious goods and services for achieving a competitive advantage. The findings show that the respondents’ perception indicates that the construction of megachurches provides a competitive advantage if the stakeholders are identified and continuously monitored because of the attributes of power, legitimacy and urgency. The contribution of the study is a discussion on the relevance of the applicability of stakeholder theory in the symbolic goods market of religion from the perspective of network relationships with other stakeholders.
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Ahmed, Hafsa, und David A. Cohen. „Stakeholder attributes and attitudes during privatisation: a New Zealand case study“. International Journal of Public Sector Management 32, Nr. 2 (04.03.2019): 157–74. http://dx.doi.org/10.1108/ijpsm-09-2017-0258.
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PurposeThe purpose of this paper is to focus on understanding of stakeholder attributes and attitudes towards privatisation. It examines the stakeholder attributes through the framework provided by Mitchellet al.(1997). By combining it with the concept of issue salience proposed by Bundyet al.(2013), it addresses the current gap in research on how stakeholders influence the process of privatisation.Design/methodology/approachThis research uses a process research approach to examine the privatisation process in New Zealand’s electricity industry in order to explore contexts, content and process of change. By collecting real-time data during the period of privatisation, utilising a process approach provided the authors a view of the historical path and associated events which lead to identification of stakeholder attributes and attitudes towards privatisation.FindingsThe research offers a unique insight into stakeholder attributes exhibited by different groups during privatisation. The authors identified that during privatisation the government is the ultimate stakeholder who sets the rules of the game of privatisation by exhibiting the attributes of power, legitimacy and urgency. The attributes exhibited by other stakeholders were transitory and were impacted by issue salience. The authors also identified that stakeholders exhibiting all three attributes (the government) chose a non-response approach to deal with any conflicting issues raised by other stakeholders.Originality/valueThe research examined the new public management emphasis on the privatisation of state-owned enterprises (SOEs)vis-à-visstakeholder groups, utilising the complementary concepts of stakeholder salience and issue salience. This research makes a contribution to stakeholder management theory in the public sector by identifying how various stakeholders influence the process of privatisation of SOEs.
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Hossain, Moazzem, Md Maruf Hossan Chowdhury, Robert Evans und Aklema Choudhury Lema. „The relationship between corporate social responsibility and corporate financial performance: Evidence from a developing country“. Corporate Ownership and Control 12, Nr. 3 (2015): 474–87. http://dx.doi.org/10.22495/cocv12i3c4p8.
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We investigate the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) in a developing country context using annual report data from a sample of 131 firms over a 5 year period (2008-2012). Legitimacy theory and stakeholder theory underpin the study. We find a positive and significant relationship between CSR and CFP when using accounting measures of return on assets and equity, but an insignificant relationship when using the market based Tobin’s Q. The moderating effect of organisational governance on measures of workplace and environmental reporting is found to be important in a less developed economy
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UTOMO, Mohamad Nur, Sugeng WAHYUDI, Harjum MUHARAM und Monica Rahardian Ary HELMINA. „Linking Ownership Concentration to Firm Value: Mediation Role of Environmental Performance“. Journal of Environmental Management and Tourism 10, Nr. 1 (18.05.2019): 182. http://dx.doi.org/10.14505//jemt.10.1(33).18.
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Research was aimed to examine the indirect effect of ownership concentration on firm value through environmental performance. Firms with businesses at mining, manufacture, and agriculture sectors, and that listing at Indonesia Stock Exchange and participating with Environmental Performance Assessment Program (PROPER), were the sample of research. Research has given some results. Ownership concentration has positive impact non-linearly on environmental performance. Ownership concentration can increase firm value through strategy of improving environmental performance. These results supported stakeholder theory and legitimacy theory. Corporate action that adopts environmentally friendly issue was selected as strategy to create firm value.