Stakeholder Strategy

Jay Barney: Why Resource-based Theory Must Incorporate a Stakeholder Perspective

Some argue that since shareholders are the only stakeholder who have a claim on a firm’s profits, managers should focus only on maximizing shareholder wealth. Not only will this satisfy…

Flammer & Bansal, Does a Long-Term Orientation Create Value?

This paper shows that corporate short-termism is hampering business success. We show clear, causal evidence that imposing long-term incentives on executives—in the form of long-term executive compensation—improves business performance. Long-term…

Biranu, Gambardella, & Valentini on Bribery and Investment

We ask whether, along with ethical issues, bribing affects the behavior and performance of firms in A frica and L atin A merica. Our statistical analysis shows that bribe payments…

Location matters: Valuing firmspecific nonmarket risk…global mining industry

We argue that mines located near environmentally sensitive water sources are subject to nonmarket risks arising from the potential collective actions of local stakeholders and their allies. Stakeholder mobilization can…

Caroline Flammer – Product market competition & CSR

This study examines whether product market competition affects corporate social responsibility (CSR). To obtain exogenous variation in product market competition, I exploit a quasi-natural experiment provided by large import tariff…

Toward a dynamic notion of value creation and appropriation in firms

Most managers and the business press regard “value creation” as the increase in shareholder wealth represented by a rise in corporate profit or stock price. A broader conception of value…

Weiting Zheng on Buffering and Enabling: Political Ties in China

Several studies suggest that political ties help firms survive or perform but do not examine the boundary conditions concerning which types of firms and which type of ties help firms.…

The relative value of firm and nonprofit experience

Dorobantu & Odziemkowska: Valuing Stakeholder Governance

Eesley, DeCelles, & Lenox on strategies of social activists

The purpose of this study was to examine how different types of activist groups behave differently when targeting firms for social change. We find that traditional activist groups rely on…

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