Stakeholder Management, Reciprocity and Stakeholder Responsibility
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
Volume (Year): 109 (2012)
Issue (Month): 1 (August)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/social+sciences/applied+ethics/journal/10551/PS2|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ernst Fehr & Simon Gächter, 2000.
"Fairness and Retaliation: The Economics of Reciprocity,"
Journal of Economic Perspectives,
American Economic Association, vol. 14(3), pages 159-181, Summer.
- Ernst Fehr & Simon Gaechter, "undated". "Fairness and Retaliation: The Economics of Reciprocitys," IEW - Working Papers 040, Institute for Empirical Research in Economics - University of Zurich.
- Ernst Fehr & Simon Gaechter, 2000. "Fairness and Retaliation: The Economics of Reciprocity," CESifo Working Paper Series 336, CESifo Group Munich.
- Hosmer, LaRue Tone & Kiewitz, Christian, 2005. "Organizational Justice: A Behavioral Science Concept with Critical Implications for Business Ethics and Stakeholder Theory," Business Ethics Quarterly, Cambridge University Press, vol. 15(01), pages 67-91, January.
- Jonathan P. Doh & Terrence R. Guay, 2006. "Corporate Social Responsibility, Public Policy, and NGO Activism in Europe and the United States: An Institutional-Stakeholder Perspective," Journal of Management Studies, Wiley Blackwell, vol. 43(1), pages 47-73, 01.
- 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.
- Jan Jonker & André Nijhof, 2006. "Looking Through the Eyes of Others: assessing mutual expectations and experiences in order to shape dialogue and collaboration between business and NGOs with respect to CSR," Corporate Governance: An International Review, Wiley Blackwell, vol. 14(5), pages 456-466, 09.
- Rauyruen, Papassapa & Miller, Kenneth E., 2007. "Relationship quality as a predictor of B2B customer loyalty," Journal of Business Research, Elsevier, vol. 60(1), pages 21-31, January.
- Carroll, Archie B., 1991. "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders," Business Horizons, Elsevier, vol. 34(4), pages 39-48.
- Langtry, Bruce, 1994. "Stakeholders and the Moral Responsibilities of Business," Business Ethics Quarterly, Cambridge University Press, vol. 4(04), pages 431-443, October.
- Doh, Jonathan P. & Teegen, Hildy, 2002. "Nongovernmental organizations as institutional actors in international business: theory and implications," International Business Review, Elsevier, vol. 11(6), pages 665-684, December.
- Goodwin, Cathy & Ross, Ivan, 1992. "Consumer responses to service failures: Influence of procedural and interactional fairness perceptions," Journal of Business Research, Elsevier, vol. 25(2), pages 149-163, September.
- Jensen, Michael C., 2002. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Business Ethics Quarterly, Cambridge University Press, vol. 12(02), pages 235-256, April.
- Phillips, Robert, 2003. "Stakeholder Legitimacy," Business Ethics Quarterly, Cambridge University Press, vol. 13(01), pages 25-41, January.
- Phillips, Robert A., 1997. "Stakeholder Theory and A Principle of Fairness," Business Ethics Quarterly, Cambridge University Press, vol. 7(01), pages 51-66, January.
- Freeman, R. Edward, 1994. "The Politics of Stakeholder Theory: Some Future Directions," Business Ethics Quarterly, Cambridge University Press, vol. 4(04), pages 409-421, October.
- Venkiteswaran N, 1997. "Ethics, Values and Corporate Governance," IIMA Working Papers WP1997-08-01_01459, Indian Institute of Management Ahmedabad, Research and Publication Department.
- Edward Freeman, R. & Evan, William M., 1990. "Corporate governance: A stakeholder interpretation," Journal of Behavioral Economics, Elsevier, vol. 19(4), pages 337-359.
- Samuel Mercier & Jean-Pascal Gond, 2005. "La théorie des parties prenantes," Working Papers CREGO 1050502, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
- Sirkku Hellsten & Chris Mallin, 2006. "Are â€˜Ethicalâ€™ or â€˜Socially Responsibleâ€™ Investments Socially Responsible?," Journal of Business Ethics, Springer, vol. 66(4), pages 393-406, 07.
- Phillips, Robert & Freeman, R. Edward & Wicks, Andrew C., 2003. "What Stakeholder Theory is Not," Business Ethics Quarterly, Cambridge University Press, vol. 13(04), pages 479-502, October.
- Orts, Eric W. & Strudler, Alan, 2002. "The Ethical and Environmental Limits of Stakeholder Theory," Business Ethics Quarterly, Cambridge University Press, vol. 12(02), pages 215-233, April.
- Elms, Heather & Phillips, Robert A., 2009. "Private Security Companies and Institutional Legitimacy: Corporate and Stakeholder Responsibility," Business Ethics Quarterly, Cambridge University Press, vol. 19(03), pages 403-432, July.
- Galai, Dan & Wiener, Zvi, 2008. "Stakeholders and the composition of the voting rights of the board of directors," Journal of Corporate Finance, Elsevier, vol. 14(2), pages 107-117, April.
- Goodstein, Jerry D. & Wicks, Andrew C., 2007. "Corporate and Stakeholder Responsibility: Making Business Ethics A Two-Way Conversation," Business Ethics Quarterly, Cambridge University Press, vol. 17(03), pages 375-398, July.
- Yves Fassin, 2010. "A Dynamic Perspective in Freeman’s Stakeholder Model," Journal of Business Ethics, Springer, vol. 96(1), pages 39-49, August. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:kap:jbuset:v:109:y:2012:i:1:p:83-96. 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: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.