Cortoplacismo societario como una expresión del modelo de primacía de los accionistas y la necesidad de repensar dicho modelo: Estados Unidos y Colombia

El cortoplacismo societario es una expresión del modelo de primacía de los accionistas, el cual se abordará desde su aplicación en Estados Unidos y Colombia. El incremento de las ganancias de los accionistas a corto plazo podría, según el caso, generar externalidades negativas en otros stakeholders y poner en riesgo el futuro de la compañía y las inversiones de los propios accionistas a largo plazo. De allí que resulte pertinente y necesario repensar dicho modelo para adoptar el stakeholder model y asignar a los administradores un rol mediador entre las diferentes partes interesadas. Adicionalmente, los accionistas también deben asumir responsabilidad y es momento de comenzar a discutir sobre la asignación de deberes expresos para ellos, más allá de la buena fe y la prohibición de abusar de los derechos, como ocurre para el caso de los administradores.

Saliência, influência e participação dos stakeholders nas estruturas de governança e no processo de tomada de decisão de instituições públicas de ensino superior

Introdução: os estudos da evolução do conceito de stakeholders bem como sobre o impacto de suas reivindicações sobre o processo estratégico das organizações adquirem destaque na literatura. Um recorte especial está na compreensão dos stakeholders de organizações tipicamente complexas, como as Instituições de Ensino Superior (IES), e como suas demandas são priorizadas pelos gestores nas estruturas deliberativas. Isto posto, como objetivo desta pesquisa, buscou-se elucidar como a influência e saliência dos stakeholders se apresentam na priorização de demandas pelos gestores das Instituições Públicas de Ensino Superior, como também a participação das partes interessadas nas estruturas de governança e no processo de tomada de decisão destas organizações. Este trabalho tem como âncora teórica o Salience Model proposto por Mitchell et al. (1997) e o New university stakeholder model proposto por Mainardes et. al. (2012) e os estudos acerca da governança no ambiente universitário. Método: para observação do fenômeno utilizou-se como procedimento metodológico o estudo de caso, com a aplicação de questionários, pesquisa documental e observação participante em duas IES públicas. Resultados e Conclusão: foi possível constatar que as demandas dos stakeholders internos prevalecem na pauta de discussão das instâncias deliberativas. No caso da IES A, há ainda uma preferência pela demanda dos docentes. Por fim, destaca-se que o conceito de priorização de stakeholders, bem como os mecanismos de relacionamento com eles, precisam ser difundidos nas organizações pesquisadas, todavia percebe-se que os gestores da IES B estão mais familiarizados com o tema.

Stakeholder risk modeling: An econometric analysis experience

Introduction. The article is devoted to the study of stakeholder risks and the possibilities of their assessment. The methodological framework of the study was formed on the basis of the corporate governance theory and its stakeholder model. Theoretical analysis. On the basis of the the Russian-language and English-language publications’ general review, carried out by the authors, it is concluded that there is no clear generally accepted toolkit for assessing stakeholder risk. Assessment of stakeholder risks was most developed in project approaches. Methods. The authors propose an approach for assessing the stakeholder risks of an organization as a whole based on the search for a balance of interests through modeling the contributions and benefits of stakeholders and the gaps between contributions and benefits. The empirical base of the study was made up of data on flour-grinding and bakery enterprises of the Sverdlovsk region for 2010–2019. The unbalanced dashboard for analysis included 130 observations across 28 companies. Results. The methodology has been tested on the example of a comparative analysis of “more successful” and “less successful” companies in terms of revenue. Econometric models of the stakeholder contribution to revenue have been built. Stakeholder risk maps were built, which made it possible to identify the most influential stakeholders in terms of their contribution to revenue and the most risky ones in terms of the gap level. Conclusions. When assessing stakeholder risks, a broad outlook and a system of various methods for assessing stakeholder risks are required, as well as a willingness to take into account factors that may go beyond the framework of the models. The results and conclusions of the article can become a theoretical platform for further research. Further research on this topic can be related to expanding the understanding of the imbalance of interests by taking into account the subjective assessments of stakeholders and experts. For these purposes, it is necessary to adapt existing corporate surveys to accounting for stakeholder value and stakeholder risks.

CSR Unconscious Consumption by Generation Z in the COVID-19 Era—Responsible Heretics Not Paying CSR Bonus?

The COVID-19 pandemic brought a myriad of challenges and opportunities and has influenced the modern concept of sustainability as projected into the Corporate Social Responsibility (CSR) and the underlying multi-stakeholder model. The new generation of consumers, Generation Z, has progressively increased its participation in the market and its shopping trends have been impacting the entire CSR scenery. However, little is known about their attitudes, consumption preferences and expectations. In Spring 2021, this induced a pioneering case study survey involving members of Generation Z, students from a private university in Prague, focusing on their (lack of) readiness to pay any “CSR bonus”. The principal research aim was to study and understand the rather surprising unwillingness of a solvent part of the new generation of consumers to support CSR during the COVID-19 era by paying at least a symbolic CSR bonus. A formal survey involving a questionnaire, replied to by 228 students, out of which 18 totally rejected the CSR bonus, was assessed via contingency tables. It was accompanied by a complementary questioning via an informal interview and glossing. This plethora of data was processed by meta-analysis and lead to an unexpected proposition: prima facie sustainability heretics denying to pay any CSR bonus can be conscious consumers and responsible and progressive supporters of the sustainability and CSR. Their rejection is a deontological cry in a desert for more transparency, trust and the rule of law.

Corruption and Business Ethics

Corruption remains a way of life for many cultures and subcultures, an ethos that is often consistent with the goal of corporate profit maximization. Corruption may yield benefits at the personal or individual firm level, but at the societal level corruption is detrimental to aggregate growth, individual effort, and faith in institutions. Corruption, as defined by the Oxford English Dictionary, is dishonest or fraudulent conduct by those in power, typically involving bribery. Corruption exists on a continuum that can range from rampant to minimal. Rampant corruption exists when entire organizations willingly and knowingly promote actions that are injurious to workers, consumers, or society as a whole. Egregious examples include knowingly producing and selling harmful products or ignoring conditions that impair the health and safety of workers. At the other extreme, minimal corruption can include petty violations such as stealing a small amount of office supplies for personal use. Moral, ethical, and legal guides have evolved over time in efforts to ameliorate the most obvious and egregious forms of corruption. These guides are supported by perspectives of philosophy such as utilitarianism, deontology, virtue ethics, intuition, and ethical relativism. Each of these perspectives represent an important and qualitatively different lens in which to assess ethical behavior. While some philosophical viewpoints emphasize the categorical nature of right or wrong action, others emphasize context, net benefits of actions, or individual virtue reflected in individual actions, and perspectives that are systematically reviewed. Philosophical influences are viewed as highly relevant to an understanding of modern-day corruption. Business ethics is also influenced by various competitive and complementary models that compete for influence. While the market model of business ethics has long endured, alternative perspectives of business ethics such as the stakeholder model of corporate social responsibility and the sustainability model have recently arisen in popular discourse and are explored. These alternative models seek to replace or supplement the market model and advocate for a greater recognition of environmental responsibilities as well as responsibilities to a broad array of stakeholders in society such as workers and consumers. Alternative models move beyond the narrow perspective of profit maximization and consider ethical implications of business decisions in terms of their effects on others in society as well as future generations. Various philosophical perspectives of ethics are examined, as well as how these perspectives can be applied to attain a more complete understanding of the concept of corruption.

The Courts and Corporate Executive Compensation in Canada

Corporate executive compensation in Canada, as in many developed economies, has risen significantly since the 1980s relative to that of the average worker. This has posed an issue for corporate governance due to concerns that the trend may not be serving the corporation and its stakeholders well, and also an issue for society as a whole due to its impact on income inequality more generally. This has raised interest in the role played by institutions in shaping executive pay decisions and also in what role they might play in resolving these issues. This paper looks at the role played by one such institution, the courts, with two ends in mind. The first is to gain an empirical understanding of what the courts actually do with respect to executive pay disputes. It does so by examining a set of decisions by Canadian courts between 1876 and 2018 collected by the author in which the claim of a corporate executive to their pay was at issue in order to get a better picture of how the courts are accessed, who relies on them, what rules they use, how the courts respond and how trends in these have evolved over time. It finds that the litigation of executive pay disputes has varied widely over time with a variety of stakeholders using a variety of legal areas – corporate law, contract law and bankruptcy/arrangement law in particular – to dispute the entitlement of executives to their pay. In recent years however litigation has come to be dominated by oppression remedy applications, with plaintiffs being successful in challenging pay in a majority of decisions. This paints a significantly different picture of the role of the courts than that developed in the American literature which focuses almost exclusively on shareholder use of derivative actions to monitor pay decisions. The second is to examine how better use might be made of the courts in order to remedy the broader problems for corporate stakeholders and society as a whole that corporate executive pay practice presents. It suggests that an expanded role for the oppression remedy by corporate employees should be considered as a policy option which would better reflect a stakeholder model of governance and address broader inequality concerns at the same time.

Business Development Strategy for Muslimah Female UMKM Person of Songket Fabric in Batu Bara Using the Triple Helix Method

This study aims to determine how the strategies used by Muslim women who do UMKM songket Batubara in developing their businesses. The sample used in this study were four MSME actors of songket Batubara, and the approach used was an inductive qualitative approach. In this study, the data analysis tools used were SWOT analysis (Strength, Weakness, Opportunities, and Threats). The results of the analysis show that this study produces a triple helix stakeholder model in this study as: a. Academics in this case are a source of knowledge with the latest theories and are relevant to the business developed by Batu Bara songket business actors run by Muslim women in Batu Bara to gain a competitive and sustainable advantage. b. Business is an entity that carries out business processes in creating added value and maintaining sustainable growth. c. The government acts as a regulator as well as a controller that has regulations and responsibilities in developing businesses. The government also has a role to coordinate stakeholders who contribute to the development of women's businesses in the treatment of Batu Bara songket cloth. Based on the results of the SWOT analysis, it can be seen that the Stakeholders are implementing the SO (Strength and Opportunities) strategy, which is a strategy in which the company uses the strengths and opportunities it has to run its business.

Stakeholder Model of Change

This chapter explores the various ways in which opposing and/or contradictory entities unfold and play out with regard to change in organizations. This is undertaken from two different viewpoints. First, from a micro-phenomenological perspective it examines how insights derived from critical theory and other critical traditions have influenced the development of change strategies, interventions, and techniques. Second, at a more macro-level, it explores the extent to which particular schools of thought with regard to organizational change and organization development (OD) have embraced and/or resisted, the inevitable and unavoidable critical challenges and opportunities presented by opposing agents, competing interests, conflicting entities, and contrasting meanings in organizations. The chapter concludes by discussing the scope for, and possible directions of, critical change scholarship and practice in the future.