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Stakeholder Management, Reciprocity and Stakeholder Responsibility

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  • Yves Fassin

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    Abstract

    Stakeholder theory advocates that firms bear responsibility for the implications of their actions. However, while a firm affects or can affect stakeholders, stakeholders can also affect the corporation. Previous stakeholder theorising has neglected the reciprocal nature of responsibility. The question can be asked whether—in a spirit of reciprocity, loyalty and fairness—stakeholders should treat the corporation in a fair and responsible way. This study based on different definitions of stakeholders argues that various stakeholder attributes differ for different categories of stakeholders. This analysis presumes that the attribute of stakeholder reciprocity can probably be restricted to real stakeholders, labelled stakeowners: genuine stakeholders with a legitimate stake, the loyal partners who strive for mutual benefits. Stakeowners own and deserve a stake in the firm. Stakeholder reciprocity could be an innovative criterion in the corporate governance debate as to who should be accorded representation on the board. Corporate social responsibility should imply corporate stakeholder responsibility. Copyright Springer Science+Business Media B.V. 2012

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    Bibliographic Info

    Article provided by Springer in its journal Journal of Business Ethics.

    Volume (Year): 109 (2012)
    Issue (Month): 1 (August)
    Pages: 83-96

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    Handle: RePEc:kap:jbuset:v:109:y:2012:i:1:p:83-96

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    Web page: http://www.springerlink.com/link.asp?id=100281

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    Keywords: Stakeholder; Stakeholder management; Stakeholder theory; Corporate social responsibility; Business ethics; Corporate governance; Fairness; Reciprocity; Stakeowner;

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    1. Peter Southwood, 2003. "Shareholder engagement: prospects for improving corporate social responsibility," International Journal of Business Performance Management, Inderscience Enterprises Ltd, vol. 5(2/3), pages 223-236.
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    Cited by:
    1. Dina Tomsic, 2013. "Towards A Relational View Of Corporate Governance," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 9(2), pages 71-88.
    2. Susan Castro, 2014. "The Morality of Unequal Autonomy: Reviving Kant’s Concept of Status for Stakeholders," Journal of Business Ethics, Springer, vol. 121(4), pages 593-606, June.

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