Too good to say goodbye? Effect of stakeholder orientation on the survival of large firms

Vurro, Clodia; Romito, Stefano; Benassi, Mario

doi:10.1016/j.lrp.2021.102161

Cited by 14 publications

(12 citation statements)

References 90 publications

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“…The firm's stakeholders constitute a significant context in which the firm's signaling occurs, especially for those activities that impact a wide range of stakeholders (i.e., CSR activities). Firm-stakeholder relationships are increasingly characterized by "polyphonic" relationships (Glozer et al, 2019) that conditionate the survival of the firm (Vurro et al, 2022).…”

Section: Introductionmentioning

confidence: 99%

The firm under the spotlight: How stakeholder scrutiny shapes corporate social responsibility and its influence on performance

Forcadell

Lorena

Aracil

2022

Corp Soc Responsibility Env

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Since stakeholders cannot directly observe corporate social responsibility (CSR) efforts, companies attempt to back up their increasing sustainability claims by sending CSR signals. The environment in which signaling takes place influences the credibility of the signals. Among the factors that make up the signaling environment, the overall exposure of the company to different stakeholders (i.e., stakeholder scrutiny) has been neglected by the literature. Using signaling and stakeholder theories, we argue how stakeholder scrutiny shapes CSR signals' credibility. We empirically analyze a sample of 5762 firms across several sectors from 23 developed countries from 2013 to 2017. Stakeholder scrutiny exercises a positive effect on the credibility of CSR signals through a mediated-moderated impact of CSR (across environmental, social, and governance dimensions) on firm performance.

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Section: Introductionmentioning

confidence: 99%

The firm under the spotlight: How stakeholder scrutiny shapes corporate social responsibility and its influence on performance

Forcadell

Lorena

Aracil

2022

Corp Soc Responsibility Env

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“…An extension of our understanding on how a firm can develop its AMC when multiple heterogeneous actors are involved in adaptive and dynamic interactions to achieve outcomes that span beyond the collaboration's boundaries can derive from bridging in the stakeholder theory of the firm (Freeman, 1984). The adoption of a stakeholder‐oriented approach implies that firms adopt policies and management processes to identify, understand and integrate the interests of their stakeholders (Bettinazzi & Feldman, 2021; Vurro et al., 2022). The adoption of a stakeholder‐based lens in the study of how firms develop collaborative capabilities could open new research opportunities relating to the interaction between practices of stakeholder orientation and the ability to extract learning from heterogeneous sources (Jones et al., 2018).…”

Section: Towards a Research Agendamentioning

confidence: 99%

Alliance management capabilities in sustainability‐oriented collaboration: Problematization and new research directions

Vurro

Romito

Costanzo

et al. 2023

Int J Management Reviews

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Sustainability‐oriented collaboration, a heterogeneous set of formal interorganizational arrangements that vary considerably in size, membership, focus and functioning, but share the same interest in addressing sustainability challenges of public concern, is becoming a mainstay of corporate agenda setting. Yet, the more firms interact on social and environmental issues, the more the burdens and tensions of collaborating for sustainability become apparent. Research and practice increasingly question whether an alliance management capability (AMC) perspective can be adopted to explain variability in collaboration effectiveness. With the aim to investigate whether, and to what extent, existing sustainability‐oriented collaboration research integrates or challenges mainstream theory on AMC, we adopt a problematization method to unpack the root assumptions underlying the AMC construct. We find that self‐interest in economic value creation and capture, the need for homogeneity to favour knowledge accumulation and learning on alliance management, and predictable patterns of AMC deployment are consistently assumed by scholars to predict success in alliance management. Accordingly, we analyse AMC assumptions’ current integration in the study of sustainability‐oriented collaboration, conducting a systematic literature review on collaborative capabilities developed for, during and in response to sustainability challenges. In so doing, we identify what distinguishes sustainability‐oriented collaboration from mainstream strategic alliances and the related implications on the collaborative capabilities firms should develop and deploy when dealing with sustainability challenges. We elaborate on these and their implications for AMC constructs to provide a future research agenda, which integrates further theoretical perspectives and broadens the scope of existing ones.

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“…However, the theory is nowadays mostly associated with its central proposition: that an approach to managing stakeholders that aims for fair relationships that balance stakeholders’ interests will positively affect a firm’s performance (Donaldson and Preston, 1995; Jones, 1995). 2 Following earlier work by Berman et al (1999) and Hillman and Keim (2001), strategy scholars have provided empirical evidence for a positive relationship between a stakeholder orientation and various measures of firm performance, such as financial performance (Choi and Wang, 2009; Henisz et al, 2014), survival (Vurro et al, 2021), and innovation (Flammer and Kacperczyk, 2016).…”

Section: The Present: the Stakeholder Turn In Strategymentioning

confidence: 99%

Stakeholder theory, strategy, and organization: Past, present, and future

Bridoux

Stoelhorst

2022

Strategic Organization

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We reflect on the past, present, and future of stakeholder theory, focusing on its link to strategy and organization scholarship. Stakeholder theory was originally conceived as a theory of strategic management, but for most of its history it largely developed without having a noticeable impact on strategy research. This has changed in the last decade, however, with the strategy field making a ‘stakeholder turn’. We highlight the streams of research at the forefront of this turn, including work on ‘behavioral stakeholder theory’, ‘stakeholder strategy theory’, and ‘stakeholder governance’. We conclude with an outlook on how stakeholder theory can help strategy scholars develop a theory of managing value creation that explicitly acknowledges both the economic and moral nature of relationships in and around organizations.

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Too good to say goodbye? Effect of stakeholder orientation on the survival of large firms

Cited by 14 publications

References 90 publications

The firm under the spotlight: How stakeholder scrutiny shapes corporate social responsibility and its influence on performance

The firm under the spotlight: How stakeholder scrutiny shapes corporate social responsibility and its influence on performance

Alliance management capabilities in sustainability‐oriented collaboration: Problematization and new research directions

Stakeholder theory, strategy, and organization: Past, present, and future

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