Engaging Stakeholders in Emerging Economies: The Case of Multilatinas

Davila, Anabella; Rodríguez-Lluesma, Carlos; Elvira, Marta M.

doi:10.1007/s10551-018-3820-7

Cited by 24 publications

(33 citation statements)

References 43 publications

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“…This is shown by the agreements of Companies A and C for funding projects that allow a reduction in greenhouse gas emissions and in Company B's CSRIN strategies to fight against corruption by reaching agreements with the government. These multistakeholder initiatives extend the previous findings of Doh et al () on public–private partnership in emerging markets and also Davila, Rodriguez‐Lluesma, and Elvira (), who analyse the Latin American MNCs' stakeholders' engagement in the same institutional context.…”

Section: Discussionsupporting

confidence: 82%

Can multinational companies foster institutional change and sustainable development in emerging countries? A case study

Forcadell

Aracil

2019

Bus Strat Dev

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Emerging countries present institutional necessities that hinder their sustainable development. In the face of this challenge, companies, and in particular multinational companies (MNCs), can foster sustainable development through their corporate social responsibility (CSR) initiatives. This study focuses on the role of institutional change in transforming CSR into sustainable development in emerging countries. To this end, we propose a view of CSR focused on its institutional determinants and outcomes from a social and developmental perspective. By using quantitative and qualitative data, we analyse the case of three MNCs from different industries based in Europe and operating in Mexico. The case study shows how firms can stimulate institutional change in developing economies and contribute to their sustainable development as measured by the sustainable development goals. Various mechanisms about how this process is made are devised: institutional entrepreneurship, multistakeholder initiatives, interconnection of different institutional dimensions, and subsidiary entrepreneurship. The case study highlights the interaction among MNCs, developing countries, and institutions and how firms' sustainable actions scale up to the macro level.

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Section: Discussionsupporting

confidence: 82%

Can multinational companies foster institutional change and sustainable development in emerging countries? A case study

Forcadell

Aracil

2019

Bus Strat Dev

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“…Another look at ownership indicates that in 40% of the BGs, their majority shareholder was foreign, which is in accordance with the national average of 36% for Colombian BGs [11]. Lastly, it can be highlighted that seven of the BGs (23.3%) were classified as multilatinas by the AmericaEconomia Journal [54], which provides a ranking of multilatinas that has been used in several studies [16,22,37]. This condition indicates that they are BGs with a greater international orientation and are thus exposed to a higher amount of stakeholders.…”

Section: Samplementioning

confidence: 61%

“…However, the stakeholders theory developed by Freeman expands the concept of interest groups that had been discussed at Stanford Research Institute in 1963, and defines it as any individual or group that can affect or be affected by the achievement of a firm's objectives [23] (p. 25). According to Jones [38], the concept of the stakeholder that was introduced by Freeman [22] formally recognizes the importance of the groups or individuals beyond the shareholders that are affected by a firm's actions.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…Under the connotation of stakeholders provided by Freeman [22], these interest groups are recognized as legitimate focuses that must be attended to by firms, since they have the capacity to change a firm's direction, and the management must therefore attend to their demands in such a way that their rights are guaranteed. As pointed out by Friedman and Miles [39], stakeholders must participate, in a certain way, in decisions that substantially affect their own well-being.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…To achieve these three objectives, we applied a content analysis of 30 corporate reports from the year 2015 from BGs that are representative of the Colombian economy. Following Habek and Wolniak [20], Venturelli et al [21], and Davila et al [22], the BG reports under analysis were classified into four categories: annual reports (AR), sustainability reports (SR), combined reports (CR), and integrated reports (IR). We draw on the stakeholders theory [23] and previous studies [24][25][26][27][28] in order to define the stakeholder categories, allowing us to assess the type of orientation presented by the analyzed Colombian BGs.This study is innovative in that it assesses BG stakeholder orientation and their CSR communication strategies by conducting a cross-corporate report analysis in an emerging country such as Colombia, and studying a type of corporate organization (group) whose relationship with CSR has not been sufficiently explored.…”

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confidence: 99%

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CSR Communication Strategies of Colombian Business Groups: An Analysis of Corporate Reports

2018

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The aim of this paper is to assess stakeholder orientation and corporate social responsibility (CSR) communication strategies in the business groups (BGs) of an emerging economy by means of content analysis. We worked with 30 non-financial BGs taken from the Colombian Stock Exchange. The study uses as its unit of analysis corporate reports that have been classified into four categories: annual reports (ARs), sustainability reports (SRs), combined reports (CRs), and integrated reports (IRs). The results show that IRs are the most similar reports, that Colombian BGs are mainly employee-oriented (ARs, SRs, CRs) and shareholder-oriented (IRs), and that response and involvement communication strategies are the most commonly used. Our research has theoretical and practical implications based on the assumption that the study of corporate reports has particular importance for those BGs with diversification strategies and international orientation, since it opens possibilities for future research. no evidence of which among the above-mentioned communication strategies BGs adopt, and which kind of stakeholder orientation they follow.This research is conducted in Colombia, which has an emerging economy where the study of contemporary BGs is fairly recent [10]. In Colombia, BGs are on the rise, and are important for the development of the economy [11]; they have reorganized their structures in recent years in order to be more strategic [12]. Colombia is a country with a tradition of CSR practices [13] and of voluntary disclosure reporting practices [14]. Additionally, Colombian BGs are following internationalization processes [15], leading them to become 'multilatinas'; that is to say, they are firms that are located and consolidated in a Latin American country, and seek expansion and positioning in new markets [16]. Furthermore, the context of developing countries has some cultural, social, political, and economic aspects that make them different [17], and therefore interesting to study.A recent study [18] shows that 68% of consulted investors recognize the importance of CSR reports for their investment decisions and consider the report to be the main tool for communicating CSR practices [19]. This paper aims at identifying corporate reporting practices in the BGs of an emerging economy and subsequently establishing their stakeholder orientation and prevailing CSR communication strategies. To achieve these three objectives, we applied a content analysis of 30 corporate reports from the year 2015 from BGs that are representative of the Colombian economy. Following Habek and Wolniak [20], Venturelli et al. [21], and Davila et al. [22], the BG reports under analysis were classified into four categories: annual reports (AR), sustainability reports (SR), combined reports (CR), and integrated reports (IR). We draw on the stakeholders theory [23] and previous studies [24][25][26][27][28] in order to define the stakeholder categories, allowing us to assess the type of orientation presented by the analyzed Colombian BGs.This study i...

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Enablers of a Circular Economy: A Strength-Based Stakeholder Engagement Approach

Lehtimäki

Kujala

Thatchenkery

2023

Stakeholder Engagement in a Sustainable Circular Economy

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Recent circular economy research has emphasised that stakeholder engagement and mutual support of stakeholders are needed to implement the idea of a circular economy. While stakeholder engagement is often considered as something positive, a deeper understanding of what constitutes the positive in stakeholder relationships is needed. The purpose of this chapter is to increase our understanding of strength-based stakeholder engagement as an enabler of the sustainability transition to a circular economy. We explore what constitutes positive and constructive stakeholder relationships at the individual, organisational and societal levels of stakeholder engagement. We present an empirical study of specialists representing different stakeholders involved in advancing the circular economy in Finland. Drawing on a strength-based approach, our study contributes to the stakeholder literature by elucidating the positive foundation of stakeholder engagement. Our study shows that identifying and enhancing the strengths in stakeholder engagement reveals opportunities that exist for a circular economy.

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Engaging Stakeholders in Emerging Economies: The Case of Multilatinas

Cited by 24 publications

References 43 publications

Can multinational companies foster institutional change and sustainable development in emerging countries? A case study

Can multinational companies foster institutional change and sustainable development in emerging countries? A case study

CSR Communication Strategies of Colombian Business Groups: An Analysis of Corporate Reports

Enablers of a Circular Economy: A Strength-Based Stakeholder Engagement Approach

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