IDEAS home Printed from https://ideas.repec.org/a/url/izvest/v23y2022i1p109-130.html
   My bibliography  Save this article

Stakeholder risk research tools in the light of companies’ sustainable development

Author

Listed:
  • Irina N. Tkachenko

    (Ural State University of Economics, Ekaterinburg, Russia)

  • Aleksandr A. Zlygostev

    (Ural Bank for Reconstruction and Development, Ekaterinburg, Russia)

Abstract

Despite very extensive research on the issues of the stakeholder approach, so far there is no general understanding of the risks borne by company’s stakeholders and no applied tools developed to address specific problems of recognising and analysing them. The paper aims to study stakeholder risks, evaluate them, model stakeholder risk networks, develop tools for determining the loyalty (satisfaction) of stakeholders, and establish risk priorities for stakeholders. The research methodology rests on the stakeholder approach, corporate governance theory and graph theory. The paper applies comparative and content analysis, methods of modeling, prioritisation and visualisation of graphs. Based on Rebecca Yang’s method modified by the authors, the study models stakeholder risk networks. Due to the modification, the method is able to take into account the factor of balance of stakeholders’ interests. The method is tested on a business project of a particular company. The research results include specifying the mutual influence of risks in the network, determining key categories of risks and the most influential stakeholders, rating risks using analysis metrics and graphs, and developing a scheme for implementing the proposed tools in the management system. The theoretical and practical significance of the study lies in introducing the factor of balance (imbalance) of interests in modelling of stakeholder risk networks, as well as in providing recommendations on the use of these tools for sustainable development.

Suggested Citation

  • Irina N. Tkachenko & Aleksandr A. Zlygostev, 2022. "Stakeholder risk research tools in the light of companies’ sustainable development," Journal of New Economy, Ural State University of Economics, vol. 23(1), pages 109-130, April.
    • Handle: RePEc:url:izvest:v:23:y:2022:i:1:p:109-130
    DOI: 10.29141/2658-5081-2022-23-1-6
    as

    Download full text from publisher

    File URL: https://jne.usue.ru/images/download/94/eng/6.pdf
    Download Restriction: no
    File URL: https://jne.usue.ru/en/issues-2022/1124
    Download Restriction: no
    File URL: https://libkey.io/10.29141/2658-5081-2022-23-1-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Irina N. Tkachenko & Irina V. Pervukhina & Aleksandr A. Zlygostev, 2020. "Modeling the contribution and benefits of company stakeholders," Upravlenets, Ural State University of Economics, vol. 11(2), pages 2-15, April.
    2. Maria Aluchna & Samuel O. Idowu & Irina Tkachenko, 2020. "Exploring the Issue of Corporate Governance in Central Europe and Russia: An Introduction," CSR, Sustainability, Ethics & Governance, in: Maria Aluchna & Samuel O. Idowu & Irina Tkachenko (ed.), Corporate Governance in Central Europe and Russia, chapter 0, pages 1-8, Springer.
    3. Ronald K. Mitchell & Harry J. Van Buren III & Michelle Greenwood & R. Edward Freeman, 2015. "Stakeholder Inclusion and Accounting for Stakeholders," Journal of Management Studies, Wiley Blackwell, vol. 52(7), pages 851-877, November.
    4. Irina Tkachenko & Irina Pervukhina, 2020. "Stakeholder Value Assessment: Attaining Company-Stakeholder Relationship Synergy," CSR, Sustainability, Ethics & Governance, in: Maria Aluchna & Samuel O. Idowu & Irina Tkachenko (ed.), Corporate Governance in Central Europe and Russia, chapter 0, pages 89-105, Springer.
    5. Josefina Fernández-Guadaño & Jesús H. Sarria-Pedroza, 2018. "Impact of Corporate Social Responsibility on Value Creation from a Stakeholder Perspective," Sustainability, MDPI, vol. 10(6), pages 1-10, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Daniela M. Salvioni & Simona Franzoni & Raffaella Cassano, 2017. "Sustainability in the Higher Education System: An Opportunity to Improve Quality and Image," Sustainability, MDPI, vol. 9(6), pages 1-27, May.
    2. Fabricio Carlos Schmidt & Roselaine Ruviaro Zanini & André Luis Korzenowski & Reno Schmidt Junior & Karl Benchimol Xavier do Nascimento, 2018. "Evaluation of Sustainability Practices in Small and Medium-Sized Manufacturing Enterprises in Southern Brazil," Sustainability, MDPI, vol. 10(7), pages 1-11, July.
    3. Judit Creixans-Tenas & Dolores Gallardo-Vázquez & Núria Arimany-Serrat, 2020. "Social Responsibility, Communication and Financial Data of Hospitals: A Structural Modelling Approach in a Sustainability Scope," Sustainability, MDPI, vol. 12(12), pages 1-20, June.
    4. Shyam Singh & Nathalie Holvoet & Vivek Pandey, 2018. "Bridging Sustainability and Corporate Social Responsibility: Culture of Monitoring and Evaluation of CSR Initiatives in India," Sustainability, MDPI, vol. 10(7), pages 1-19, July.
    5. Irina N. Tkachenko & Irina V. Pervukhina & Aleksandr A. Zlygostev, 2020. "Modeling the contribution and benefits of company stakeholders," Upravlenets, Ural State University of Economics, vol. 11(2), pages 2-15, April.
    6. Julien Kleszczowski, 2016. "La place des parties prenantes dans l’évaluation de l’impact social des organisations non lucratives: étude empirique au sein d’une organisation française," Post-Print hal-01901230, HAL.
    7. Hall, Matthew & O'Dwyer, Brendan, 2017. "Accounting, non-governmental organizations and civil society: The importance of nonprofit organizations to understanding accounting, organizations and society," Accounting, Organizations and Society, Elsevier, vol. 63(C), pages 1-5.
    8. Lyudmila A. Ramenskaya, 2021. "Interaction between digital platforms and key stakeholders: A content analysis," Upravlenets, Ural State University of Economics, vol. 12(5), pages 96-106, November.
    9. Chen-Yueh Chen & Ya-Lun Chou & Chun-Shih Lee, 2021. "Social Innovation, Employee Value Cocreation, and Organizational Citizenship Behavior in a Sport-Related Social Enterprise: Mediating Effect of Corporate Social Responsibility," Sustainability, MDPI, vol. 13(22), pages 1-10, November.
    10. Paul Andon & Jane Baxter & Wai Fong Chua, 2015. "Accounting for Stakeholders and Making Accounting Useful," Journal of Management Studies, Wiley Blackwell, vol. 52(7), pages 986-1002, November.
    11. Josefina Fernandez-Guadaño & Manuel Lopez-Millan & Jesús Sarria-Pedroza, 2020. "Cooperative Entrepreneurship Model for Sustainable Development," Sustainability, MDPI, vol. 12(13), pages 1-11, July.
    12. Marek Potkány & Miloš Gejdoš & Marek Debnár, 2018. "Sustainable Innovation Approach for Wood Quality Evaluation in Green Business," Sustainability, MDPI, vol. 10(9), pages 1-14, August.
    13. Vojislav Babić & Siniša Zarić & Rossana Piccolo, 2021. "Corporate Social Responsibility And Environmental Issues: The Report From Italian Companies," Ekonomske ideje i praksa, Faculty of Economics and Business, University of Belgrade, issue 43, pages 1-14, December.
    14. Lakshmi, Geeta & Tilley, Simon, 2019. "The “power” of community renewable energy enterprises: The case of Sustainable Hockerton Ltd," Energy Policy, Elsevier, vol. 129(C), pages 787-795.
    15. Elif Akben-Selcuk, 2019. "Corporate Social Responsibility and Financial Performance: The Moderating Role of Ownership Concentration in Turkey," Sustainability, MDPI, vol. 11(13), pages 1-10, July.
    16. Amoako, Kwame Oduro & Lord, Beverley R. & Dixon, Keith, 2021. "Narrative accounting for mining in Ghana: An old defence against a new threat?," Resources Policy, Elsevier, vol. 74(C).
    17. Tanja Schwarzmüller & Prisca Brosi & Vera Stelkens & Matthias Spörrle & Isabell M. Welpe, 2017. "Investors’ reactions to companies’ stakeholder management: the crucial role of assumed costs and perceived sustainability," Business Research, Springer;German Academic Association for Business Research, vol. 10(1), pages 79-96, June.
    18. Emanuele L. M. Bettinazzi & Maurizio Zollo, 2022. "Stakeholder Orientation and Experiential Learning: Evidence from Corporate Acquisitions," Journal of Management Studies, Wiley Blackwell, vol. 59(6), pages 1422-1459, September.
    19. Shah, Muhammad Umair & Guild, Paul D., 2022. "Stakeholder engagement strategy of technology firms: A review and applied view of stakeholder theory," Technovation, Elsevier, vol. 114(C).
    20. Seonggoo Ji & Ihsan Ullah Jan, 2019. "The Impact of Perceived Corporate Social Responsibility on Frontline Employee’s Emotional Labor Strategies," Sustainability, MDPI, vol. 11(6), pages 1-14, March.

    More about this item

    Keywords

    sustainable development; stakeholder network; balance of interests; stakeholder risks; business development; corporate governance;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

    Statistics

    Access and download statistics

    Corrections

    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:url:izvest:v:23:y:2022:i:1:p:109-130. See general information about how to correct material in RePEc.

    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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Victor Blaginin (email available below). General contact details of provider: https://edirc.repec.org/data/usueeru.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.