scholarly journals La pugna entre el shareholder primacy model y la stakeholder theory en la doctrina y práctica anglosajona. Estado de la cuestión

2021 ◽  
pp. 103-132
Author(s):  
Iñigo Zavala Ortiz de la Torre
Keyword(s):  
Stakeholder Theory ◽  
Shareholder Primacy

Existe una pugna entre los defensores de que los accionistas sean la referencia, a la que la dirección de la empresa tiene que mirar cuando adopta sus decisiones; frente a los que creen que, junto a estos se deben tomar en cuenta los intereses de otros stakeholders como son los trabajadores, los acreedores, los proveedores y los clientes. Si bien la doctrina, e incluso las posibilidades legislativas, avalan la segunda postura en los países anglosajones; tanto la práctica, como el análisis de los principales Códigos de Buen Gobierno, nos muestran que en realidad sigue vigente la primera. ¿Porqué? Recibido: 14 enero 2013Aceptado: 18 febrero 2013

scholarly journals Resilience: the resumption of shareholder primacy

2008 ◽  
Vol 5 (2) ◽  
pp. 146-151
Author(s):  
Alex Proimos
Keyword(s):  
Corporate Governance ◽  
Stakeholder Theory ◽  
General Public ◽  
Corporate Law ◽  
Shareholder Primacy

The once dominant and inconsiderate player in corporate governance, the shareholder, has faced increasing pressure from its rival stakeholders (creditors and the general public) and their agents (i.e. the management and directors) eager to unproportionately increase their stake. The idea of shareholder primacy in corporate governance is while previously was losing its dominance as corporate law versus stakeholder theory could be set for an even stronger come back.

Other People’s Money: CSR Goes to the Movies

2020 ◽  
pp. 237929812094277
Author(s):  
John F. McArdle ◽  
Alice J. de Koning
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stakeholder Theory ◽  
Teaching Tool ◽  
Board Governance ◽  
Shareholder Primacy ◽  
Corporate Social

We review the film Other People’s Money as a teaching tool for introducing concepts of corporate social responsibility and board governance. The film’s climactic shareholder meeting contains two vivid examples of stakeholder theory and shareholder primacy illustrated through the competing election speeches made by the lead characters. Our article provides step-by-step instructions for how to use the film to explore these concepts and discusses ways to enhance student competency in this area.

Legal Perspectives on Corporate Responsibility: Contractarian or Communitarian Thought?

2011 ◽  
Vol 24 (2) ◽  
pp. 277-304 ◽  
Author(s):  
Jeffrey Bone
Keyword(s):  
Stakeholder Theory ◽  
Corporate Responsibility ◽  
Corporate Citizenship ◽  
Production Model ◽  
Civic Responsibility ◽  
Team Production ◽  
Catholic Social Thought ◽  
Shareholder Primacy ◽  
Corporate Personhood ◽  
Canadian Law

This paper reviews the accountability regimes of contractarian and communitarian theory. The contractarian theory is further elaborated with the developments of shareholder primacy, the stakeholder theory and team production model (TPM), and the communitarian themes of single constituency, Catholic social thought (CST) and corporate citizenship. Contractarian theory is rooted in liberalism, where as communitarian theory is a humanist discipline. While contractarians stress the value of competition, liberty and freedom, the communitarians emphasize cooperation, justice and civic responsibility. The purpose of this analysis is to frame corporate ‘personhood’ in the perspective of the existing theories. This article suggests that corporate citizenship has been revived under Canadian law which contemplates a communitarian corporation.

The antecedents of corporate social and environmental responsibility discourse in Pakistan: Multiple theoretical perspectives

2019 ◽  
Author(s):  
Muhammad Farhan Basheer ◽  
Saqib Muneer ◽  
Muhammad Atif ◽  
Zubair Ahmad
Keyword(s):  
Institutional Theory ◽  
Least Squares ◽  
Agency Theory ◽  
Stakeholder Theory ◽  
Fixed Effects ◽  
Ordinary Least Squares ◽  
Environmental Responsibility ◽  
Legitimacy Theory ◽  
Discourse Practices ◽  
Corporate Social

The primary purpose of the study is to explore the antecedents of corporate social and environmental responsibilities discourse practices in Pakistan. The industry sensitivity, government shareholding, block holder ownership, print media coverage, environmental monitoring programs, and strategic posture are examined as antecedents of corporate social and environmental responsibility practices. A multidimensional theoretical perspective namely stakeholder theory (ST), institutional theory (IT), agency theory (PAT), and legitimacy theory (LT) is used to conceptualize the phenomena. All the four of perspective theories (positive accounting theory, legitimacy theory, stakeholder theory, and institutional theory) claim that there are ‘pressures’ that impact the organization. How much ‘pressures’ are recognized, managed or satisfied differs from one perspective of theory to the other. To estimate the data, this study uses three sets of panel data models, i.e., the pooled ordinary least squares model (POLS) or constant coefficients model, fixed effects (FEM or least squares dummy variable/LSDV model) and random-effects models. The final sample is comprising of 173 firms over eight years from 2011 to 2017. The firms listed in PSX are included in the sample. Overall the findings of the study have shown agreement with the proposed results. However, the study has provided more support to the institutional theory and stakeholder theory. Keywords: Corporate Social Responsibility, Stakeholders Theory, Agency Theory, Pakistan

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