IDEAS home Printed from
   My bibliography  Save this article

From Financial Performance For Shareholders To Global Performance For Stakeholders


  • Mihaela Herciu

    (Lucian Blaga University of Sibiu, Faculty of Economic Sciences)

  • Claudia Ogrean

    (Lucian Blaga University of Sibiu, Faculty of Economic Sciences)

  • Lucian Belascu

    (Lucian Blaga University of Sibiu, Faculty of Economic Sciences)


The global business environment (at every of its levels and by any of its forms) is more and more competitive and challenging for firms nowadays. On the other hand, firms themselves exercise a growing pressure and influence over the society (by their economic, social and environmental – wanted or not – outputs/effects). There is no doubt about those facts. Under these circumstances, new theories and practices emerged, in order to bring together and make long term peace between firms/businesses and society (as a whole and considering each part and category of it as well). Stakeholders’ theory and corporate responsibility theory come into discussion when we talk about business cooperation and sustainable development, according with the future generations best interests. As a result, together with the new theory and philosophy of the firm, we (and firm management) must consider a new paradigm when measuring corporate performance: the transition form shareholders to stakeholders brings with it the transition from financial reporting to social reporting, in order for firms and their management to be able to manage and measure global firm performance (financial, as well as social and environmental, in the idea to positively answer to all the interests stakeholders have – a request of doing well by doing good). By this paper, we would like to analyze how the transition from satisfying shareholders interests theory to satisfying stakeholders interests’ theory changes the way management seeks for and measures corporate performance, and how this shift is perceived. In order to do this, we will bring together the Most Profitable Fortune Global 500 versus 100 Most Sustainable Corporations in the World and will analyze: the correlation between financial performance and social performance; the measure these two kinds of performance leverage each other – in order to achieve global corporate performance by satisfying all kind of stakeholders’ interests.

Suggested Citation

  • Mihaela Herciu & Claudia Ogrean & Lucian Belascu, 2009. "From Financial Performance For Shareholders To Global Performance For Stakeholders," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 4(4), pages 71-85, december.
  • Handle: RePEc:blg:journl:v:4:y:2009:i:4:p:71-85

    Download full text from publisher

    File URL:
    Download Restriction: no


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Mihaela Herciu & Claudia Ogrean & Lucian Belascu, 2012. "Leveraging tangible and intangible assets by using a possible firm competitiveness index," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 14(1/2), pages 115-124.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:blg:journl:v:4:y:2009:i:4:p:71-85. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mihaela Herciu). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.