In this article, we use ideas from stakeholder capital maintenance theory to address tensions in allocating firm profits between stockholders and other stakeholders. We utilize a mediative thought experiment to conceptualize how multiple stakeholder interests might better be served, such that genuine firm profits (from new value creation) versus artificial firm profits (from non-wealth-producing transfers) may be identified and incentivized. We thereby examine how such accounting transfers can be envisioned as stakeholder capital to be maintained for the benefit of both (...) the firm and the economy. We present examples to illustrate the hypothetical model proposed and its implications. (shrink)

As important stakeholder research streams have built their own silos over time, it has become increasingly difficult to visualize a full picture of stakeholder management. To begin to address this gap, we synthesize five distinct stakeholder research streams, which include stakeholder identification, stakeholder understanding, stakeholder awareness, stakeholder prioritization, and stakeholder action. We juxtapose each of these five stakeholder research streams with Scott’s framework consisting of participants, socials structure, environment, technology, and goals of an organization, respectively. What emerges from this analysis (...) of the literature is the notion of “stakeholder work” defined as the purposive processes of an organization aimed at identifying, understanding, being aware of, prioritizing, and acting with respect to stakeholders. (shrink)

In this paper, we attempt to refine the concept of corporate citizenship. Traditionally, research on corporate citizenship has paid greater attention to corporateduties, leaving corporate rights relatively unattended in the corporate citizenship literature. However, some scholars have recently explored corporate citizenship as the corporation’s implementation of both of its respected rights and duties. Others have conceptualized the corporate citizenship concept with a specific focus on the corporation’s expansion of its new duties and rights. Integrating existing conceptualizations of corporate citizenship, we (...) propose a refined definition of corporate citizenship as a dynamic process by which corporations implement and expand their respective corporate rights and duties. (shrink)

Managers in ethnic businesses are confronted with ethical dilemmas when taking action based on ethnic ties; and often as a result, they increase the already vulnerable positions of these businesses and their stakeholders. Many of these dilemmas concern the capital that is generated through variations in the use of ethnic stakeholder social ties. The purpose of this paper is to suggest a stakeholder-based model of social capital formation, mediated by various forms of ethnic ties, to explore the duality of ethnicity: (...) it can aid and hinder an ethnic business. Drawing upon the social capital/economic development, stakeholder salience, ethnic businesses literatures, and on social identity theory, we develop a cyclical model of relationships among ethnic business stakeholder attributes and social capital, as mediated by three-way Simmelian bonding and bridging ties, which then, in turn, affects the ethnic stakeholder attributes. We argue that the development of bridging yet strong ties through this cyclical process is relevant for the improvement of the positions of ethnic businesses in terms of both economic success and social responsibility. Specifically, we suggest that, given the duality of ethnicity in business, managers can prioritize stakeholder relationships based upon how these stakeholder ties affect social capital. (shrink)