Shareholder Theory Versus Stakeholder Theory in Explaining Financial Soundness

Shi-Min How; Chew Ging Lee; D. Michael Brown

doi:10.1007/s11294-019-09722-x

Formal Theory Versus Stakeholder Theory

American Journal of Evaluation ◽

10.1177/1098214012442802 ◽

2012 ◽

Vol 33 (3) ◽

pp. 395-413 ◽

Cited By ~ 12

Author(s):

Huey T. Chen ◽

Nannette C. Turner

Keyword(s):

Stakeholder Theory ◽

Formal Theory ◽

Theory Versus

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STAKEHOLDER THEORY DAN KARYA KESELAMATAN SCHINDLER

Refleksi Hukum Jurnal Ilmu Hukum ◽

10.24246/jrh.2015.v9.i1.p37-50 ◽

2015 ◽

Vol 9 (1) ◽

pp. 37

Author(s):

Edward Nicodemus Lontah

Keyword(s):

World War Ii ◽

Business Ethics ◽

Stakeholder Theory ◽

Legal Liability ◽

World War ◽

Nazi Regime ◽

Shareholder Theory ◽

Solid Foundation ◽

The Government ◽

A Company

Abstrak Penelitian Donalson dan Peterson menunjukkan bahwa stakeholder theory memiliki dasar yang lebih kuat dibandingkan epistemology dari shareholder theory untuk menganalisis mengenai performa etika bisnis dan kewajiban moral suatu perusahaan. Artikel ini akan menganalisis aktivitas bisnis Oskar Schindler menggunakan pendekatan stakeholder theory dalam CSR. Pembahasan akan difokuskan pada tanggung jawab moral Schindler sebagai direksi. Dalam aktivitas perusahaan yang dipimpinnya, tanggung jawab moril maupun ekonomis yang dijalankan Schindler akan saling berkelindan dengan tanggung jawab hukum yang seharusnya diemban oleh perusahaan. Pada akhirnya artikel ini sampai pada kesimpulan bahwa keputusan-keputusan manajerial etis yang diterapkan oleh direksi dan manajemen suatu perusahaan adalah suatu tanggung jawab moral yang seringkali bertabrakan dengan tanggung jawab ekonomis dan tanggung jawab hukum yang seharusnya dijalankan oleh suatu perusahaan.Abstract Donaldson and Peterson studies have shown that stakeholder theory has a more solid foundation than the epistemology of shareholder theory to analyze the performance of business ethics and moral duty of a company. This article discussed the business activities of Oskar Schindler, an industrialist war-profiteer during World War II. Schindler's business which was originally run by the government under the Nazi regime, eventually opposed the mission of economic and legal liability imposed by the regime. Schindler's transformation of vision and business mission in this article demonstrate the characteristics and connection of layers in descriptive, instrumental and normative stakeholder theory in the concept of "normative, instrumental and descriptive stakeholder theory" according to Donaldson and Peterson.

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Success Indicators Influencing Choice Between Born Global and Born Regional Approach

International Journal for Research in Applied Science and Engineering Technology ◽

10.22214/ijraset.2021.38908 ◽

2021 ◽

Vol 9 (11) ◽

pp. 816-825

Author(s):

Kelly Oniha

Keyword(s):

Stakeholder Theory ◽

Firm Size ◽

Born Global ◽

Independent Variables ◽

Shareholder Theory ◽

Success Indicators ◽

Venture Firms ◽

International Venture ◽

Strategy I ◽

Born Global Firms

Abstract: This paper explores the differences between born global firms and born regional firms. It compares performance between born regional firms and born global firms within the same industry. This paper would investigate three independent variables which are: firm performance, firm size, and model on a company’s strategy. I argue that despite key success indicators being almost similar in both born global firms and born regional firms, there exist some unique commonality in born global firms that are not evident in born regional firms, and vise-versa. This uniqueness motivates them to internationalize quicker than born regional firms. This paper would contribute to IB research by explaining the motivations behind behaviors of international venture firms Keywords: Born global firms, Born regional firms, international venture firms, Internationalization, resource based theory, stakeholder theory, shareholder theory

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A Bayou privateer critique’s Marcoux’s fiduciary argument against stakeholder theory

Journal of Governance and Regulation ◽

10.22495/jgr_v3_i4_p5 ◽

2014 ◽

Vol 3 (2) ◽

pp. 46-60 ◽

Cited By ~ 1

Author(s):

Emir Phillips

Keyword(s):

Transaction Costs ◽

Stakeholder Theory ◽

Contract Law ◽

Conclusive Evidence ◽

Corporate Scandals ◽

Legal Contract ◽

Shareholder Theory ◽

Awkward Position

This Article critique’s Alexei Marcoux’s A Fiduciary Argument Against Stakeholder Theory which set the mark for Shareholder Theory. Stakeholder Theorists sense the denouement of Shareholder Theory, but perhaps this in-depth reassessment of Marcoux’s Article may have them reconsidering. Recent corporate scandals reveal only the moral paucity of that company’s management and are not conclusive evidence of any odious qualities inherent to either shareholders or Shareholder Theory. The theory that can throw out the bathwater and keep the baby will win. This article adheres to a modified Shareholder Theory elucidated therein while admitting that the human, all-too human Shareholder Theory evinces every fiber of our moral being when injustice harms that which we most love. This Article hopefully makes clear that Stakeholder Theory is best attainable within the legal rubric of 3rd party beneficiary analysis, which is a valid extension of Shareholder Theory. One can see the power of this when applied to a 3rd party beneficiary (stakeholder), thereby generally negating any further philosophizing as to a Stakeholder Theory when the legal contract principle of 3rd party beneficiary so readily inculcates it. Thus, Stakeholder Theorists can sleep at night, 3rd party beneficiary Contract Law is operating 24/7. The contracting 1st parties need only address important contingencies likely enough to warrant the transaction costs of express provision, such as the possible subsequent inclusion of 3rd party beneficiaries. For all other contingencies, the fiduciary obligation fills the gap. And so, while presently in an awkward position, Shareholder Theory has the advantage of being right, even if it desperately needed this Article to save itself.

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Missing the Target: Normative Stakeholder Theory and the Corporate Governance Debate

Business Ethics Quarterly ◽

10.2307/3857875 ◽

2001 ◽

Vol 11 (1) ◽

pp. 159-176 ◽

Cited By ~ 76

Author(s):

John Hendry

Keyword(s):

Corporate Governance ◽

Stakeholder Theory ◽

Significant Influence ◽

Shareholder Theory ◽

Academic Management ◽

Different Levels ◽

Management Thinking

Abstract:After a decade of intensive debate, stakeholder ideas have come to exert a significant influence on academic management thinking, but normative stakeholder theory itself appears to be in considerable disarray. This paper attempts to untangle the confusion and to prepare the ground for a more productive approach to the normative stakeholder problem. The paper identifies three distinct kinds of normative stakeholder theory and three different levels of claim that can be made by such theories, and uses this classification to argue that stakeholder theorists have consistently pitched their sights either too high or too low to engage effectively with the rival shareholder theory. To the extent that they have their sights too high they have also undermined their own position by sacrificing credibility and introducing major problems of derivation.

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