Analysis of the Dialogue with Stakeholders by the IBEX 35 Companies

Abstract

Stakeholder dialogue is considered a key component of companies’ corporate social responsibility strategy with the aim to discover stakeholders’ demands, expectations, and their view of the firms. Based on the stakeholder theory, this paper aims to deepen the knowledge about stakeholder dialogue by analyzing how firms conduct the dialogue with five key stakeholder groups (i.e., employees, customers, suppliers, investors and shareholders, and the community). Using a sample of 35 leading Spanish companies and, after the collection and processing of the information available in their corporate websites and reports, we have determined the channels that are used, the pursued objectives, and the main commitments achieved. The results indicate that firms are engaged in several forms of dialogue with stakeholders and use various channels which differ depending on the targeted stakeholder group. We gain insight into the initiatives with which companies engage with stakeholders, the underlying interactions, and how each stakeholder group views and assesses the firm. Practical implications for policy makers and managers, as well as future lines of research are proposed.

What kind of leaders can promote the disclosure of information on the sustainable development goals?

“…Regarding the analysis technique, due to the censored nature of the dependent variable, which takes values in a concrete range, 0 or 1, the estimation is performed using Tobit regression for panel data with STATA 17.0 software, which has been used in previous work on the subject (e.g., García‐Sánchez, Aibar‐Guzmán, Serrano‐Valdecillos, & Aibar‐Guzmán, 2022). Indicate that the Tobit estimator considers that the SDG reporting variable is right‐ and left‐censored and provides coefficient estimates that are efficient and consistent.…”

“…Following García‐Sanchez et al (2022b), the sample selected to carry out the study is made up of the 35 companies belonging to the IBEX‐35 index, which includes the most liquid stocks traded on the Spanish stock market, composed of the largest Spanish listed firms (Hernández‐Madrigal et al, 2020). This choice is justified because they are the leading Spanish companies in terms of CSR reporting (Pérez‐Calderon et al, 2021; García‐Sánchez, Aibar‐Guzmán, Serrano‐Valdecillos, & Aibar‐Guzmán, 2022). Table 1 provides information regarding the companies that make up the sample.…”

“…Regarding the analysis technique, due to the censored nature of the dependent variable, which takes values in a concrete range, 0 or 1, the estimation is performed using Tobit regression for panel data with STATA 17.0 software, which has been used in previous work on the subject (e.g.,García-Sánchez, Aibar-Guzmán, Serrano-Valdecillos, & Aibar-Guzmán, 2022…”

A Telecommuting Experience Service Design Decision Model Based on BP Neural Network

“…Previous studies have suggested the use of stakeholder analysis as a more appropriate method to measure the importance of people in the organization who have different relevance to the benefits. 21 Stakeholders are individuals and groups who influence the organizational behavior and goal achievements or are affected by the achievement of organizational goals and processes. Clarifying the influence relationships between all stakeholders in an organization and the user experience of the core stakeholders is crucial to improving the telework performance of employees.…”

CEO Duality, Ownership, and Readability of Financial Statement Footnotes: Some Evidence from Indonesia

“…Personal and at the expense of the interests of shareholders. García-Sánchez et al (2022) also mention that CEOs with multiple positions tend to complicate their disclosure and be dishonest when evaluating their performance, thus leading to longterm organizational deviations. Also, CEOs who have shares in the companies they lead can reduce agency problems in the company so that the CEO acts in the shareholders' interests.…”