Engaging the stakeholders: corporate views and current trends

Grafé-Buckens, Anne; Hinton, Anna-Fay

doi:10.1002/(sici)1099-0836(199807)7:3<124::aid-bse148>3.0.co;2-r

Cited by 39 publications

(19 citation statements)

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“…Furthermore, it allows better understanding of how stakeholders can put pressure on firms and impact market perceptions. As such, it complements prior studies on stakeholder salience, by focusing on the power to influence the company (Mitchell et al , ; Grafé‐Buckens and Hinton, ; Henriques and Sharma, ; González‐Benito and González‐Benito, ; Bolton and Landells, ) by showing that organized, collective and public stakeholder power can affect investors' decisions and thus corporate financial performance. We also contribute to the social and environmental accounting literature and stakeholder engagement stream (Unerman and Bennett, ; Onkila, ; Boesso et al , ; Dobele et al , ; Rodrigue, ; Amran et al , ; Rodrigue et al , ; Kumar et al , ) by considering a new form of engagement that may have the potential to affect firms' behavior via changing investors' decisions in the stock market.…”

Section: Introductionmentioning

confidence: 58%

“…While prior literature on stakeholder salience (Mitchell et al , ) has focused on traditional mechanisms for stakeholder power (Grafé‐Buckens and Hinton, ; Henriques and Sharma, ; Dobele et al , ), we argue that SMe represents a novel medium that channels, catalyzes and potentially gives rise to activism. In a world where corporations operate globally, SMe offers a unique platform where fragmented international constituencies can come together and mobilize.…”

Section: Theoretical Frameworkmentioning

confidence: 70%

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The Power of Stakeholders' Voice: The Effects of Social Media Activism on Stock Markets

Carrasco

Michelon

2017

Bus Strat Env

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Building on social movement theory, this study assesses the influence of social media activism on the stock market performance of targeted firms. We focus on information published on Twitter by two critical stakeholders: consumer associations and trade unions. To the extent that social media represent a valid medium to mobilize stakeholders' activism, protests on Twitter may damage firm reputation, leading to capital market reactions. Using a corpus of over 1.5 million tweets referring to Spanish listed banks, we study the impact of activism by looking at targeted firms' abnormal variations in price and trading volume. Our findings suggest that the Twitter activism of key stakeholders has a significant impact on investors' decisions. Further, our empirical analyses indicate that the mechanisms affecting investors' behavior differ depending on the characteristics of the stakeholder group. Hence, this study contributes to understanding how social movements influence corporate behavior via social media. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment

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Section: Introductionmentioning

confidence: 58%

Section: Theoretical Frameworkmentioning

confidence: 70%

The Power of Stakeholders' Voice: The Effects of Social Media Activism on Stock Markets

Carrasco

Michelon

2017

Bus Strat Env

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“…Interaction strategies are implemented in situations where organizations determine their motivation to undertake engagement will be met by providing information to their stakeholders, with minimal input from them. Such a strategy includes the communication of details of CSR-related activities or programs to stakeholders described by Noland and Phillips (2010), as well as informational initiatives described by (Grafé-Buckens & Hinton, 1998). This strategy also resembles the transactional engagement described by Bowen et al (2010).…”

Section: Processmentioning

confidence: 99%

Operationalizing Stakeholder Engagement in CSR: A Process Approach

Lane

Devin

2017

Corp Soc Responsibility Env

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Stakeholder engagement is an important aspect of an organization's corporate social responsibility (CSR) activities, but little theorizing informs its implementation. In this paper, the authors relate data from stakeholder engagement activities undertaken by nine Australian organizations as part of their CSR efforts, to an existing process model of engagement. The original framework is extended and enhanced into a process model of the operationalization of stakeholder engagement. Practically, this research identifies the steps within the operationalization of stakeholder engagement, allowing engagement practitioners to track the progress of their work, and to identify and respond to any impediments. Theoretically, the proposed process model approach presents a new perspective on operationalizing stakeholder engagement. The revised model of stakeholder engagement therefore provides a lens that gives deeper insights into how engagement is carried out; as well as a practical framework through which this implementation can be understood and managed. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment

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“…The interdependences between stakeholder groups, as well as their power and influence, are greatly responsible for pushing or pulling firms' strategies towards sustainable development (see, e.g., Grafé‐Buckens and Hinton, ; Henriques and Sadorsky, ; Harvey and Schaefer, ; Madsen and Ulhoi, ; Onkila, ). In a shareholder oriented business culture, such as the US, shareholders exert more influence over strategic decisions, such as the issuance of a sustainability report, compared with other primary stakeholder groups.…”

Section: Theoretical Foundation and Hypothesesmentioning

confidence: 99%

Do Customers Affect the Value Relevance of Sustainability Reporting? Empirical Evidence on Stakeholder Interdependence

2014

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In spite of the strategic importance of sustainability reporting in current business practice and the resulting increase in research on its value relevance, studies accounting for stakeholder interdependence are scarce. On the basis of the instrumental stakeholder theory, we investigate whether customers have an impact on the value relevance of sustainability reporting. Using a sample of US listed firms, we show that the value relevance of sustainability reporting is affected by customer profile differences, thereby confirming customer-shareholder interdependence. However, customer profile effects are only predominant if firms' profitability levels are low and disappear as profitability increases. Overall, our findings provide a more nuanced understanding of the value relevance of sustainability reporting. Therefore, we offer managers fine-grained guidance for value relevant sustainability reporting.

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Engaging the stakeholders: corporate views and current trends

Cited by 39 publications

References 1 publication

The Power of Stakeholders' Voice: The Effects of Social Media Activism on Stock Markets

The Power of Stakeholders' Voice: The Effects of Social Media Activism on Stock Markets

Operationalizing Stakeholder Engagement in CSR: A Process Approach

Do Customers Affect the Value Relevance of Sustainability Reporting? Empirical Evidence on Stakeholder Interdependence

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