3 利益相关者理论
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Suppliers
Investors
A firm
Customers
Employees
(Donaldson & Preston, 1995)
A Stakeholder Model of a Firm
(Donaldson & Preston, 1995)
Suppliers
Government
Environmental Group
• Discretionary stakeholders
– possess legitimacy but no power and urgent claims – Examples: nonprofit organizations, hospital, schools
• Demanding stakeholders
• No argument on the definition of stakeholder. • What is needed is a theory of stakeholder identification that can reliably separate stakeholders from nonstakeholders. • A typology of stakeholders by considering three attributes.
Power
Dormant
Stakeholder
Dominant Stakeholder
Dangerous Stakeholder
Definitive Stakeholder
Dependent Stakeholder Discretionary Stakeholder
Demanding Stakeholder
财务管理目标
财务管理目标评价
利润 最大 化
每股 收益 最大 化Fra Baidu bibliotek
股东 财富 最大 化
企业 价值 最大 化
Discussion The purpose of financial management based on a stakeholder perspective
Corporate social responsibility(CSR)
• Legitimacy
– a generalized perception or assumption that the actions of an entity are desirable, proper, or appropriate within some socially constructed system of norms, values, beliefs, and definitions" (Suchman ,1995: 574)
T Donaldson, LE Preston, (1995), The stakeholder theory of the corporation: Concepts, evidence, and implications, Academy of management Review
A traditional input-output model of a firm
– The stakeholder’s power to influence the firm; – The legitimacy of the stakeholder’s relationship with the firm; – The urgency of the stakeholder’s claim on the firm.
Urgency
Legitimacy
(Mitchell, Agle & Wood, 1997)
Latent stakeholders
• Dormant stakeholders
– possess power but not legitimacy and urgency – their power remains unused—dormant – Examples: power is held by those who have a loaded gun (coercive), those who can spend a lot of money (utilitarian), or those who can command the attention of the news media (symbolic)
• Dangerous stakeholders
– Has urgency and power but lacks legitimacy – Examples: unlawful, yet common, attempts at using coercive means to advance stakeholder claims: employee sabotage, terrorism.
Why the three attributes?
Three attributes
• Power:
– a relationship among social actors in which one social actor, A, can get another social actor, B, to do something that B would not otherwise have done (Pfeffer, 1983) – [it is] the ability of those who possess power to bring about the outcomes they desire (Salancik & Pfeffer, 1974: 3)
• Corporate social responsibility (CSR) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. • The goal of CSR is to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders.
Definitive Stakeholders
• has power and legitimacy and ask for urgency • For example, stockholders see their stock values plummet, they may fire top managers.
Normative
• The identification of moral or philosophical guidelines for the operation and management of corporations. • Do (Don’t) do this because it is the right (wrong) thing to do.
Instrumental
• Connections between stakeholder management and the achievement of traditional corporation objectives (e.g., profitability, growth). • If you want to achieve(avoid) results X, Y, or Z, then adopt (don’t adopt) principles and practices A, B, or C.
Stakeholder Theory
• R. Edward Freeman (1984) Strategic Management: A Stakeholder Approach
The stakeholder theory
• The stakeholder theory is a theory of organizational management and business ethics that addresses morals and values in managing an organization. • It attempts to address the "Principle of Who or What Really Counts."
What’s a stakeholder?
• A broad way
– any group or individual who can affect or is affected by the achievement of the organization's objectives" (Freeman ,1984: 46) – Voluntary stakeholders bear some form of risk as a result of having invested some form of capital, human or financial, something of value, in a firm. Involuntary stakeholders are placed at risk as a result of a firm's activities. But without the element of risk there is no stake
– possess urgency but no power and legitimacy – "mosquitoes buzzing in the ears" of managers
Expectant Stakeholders
• Dominant stakeholders
– stakeholders are both powerful and legitimate – have some formal mechanism – Examples: corporate boards of directors; human resources department
Investors
A firm
Customers
Community
Employers
Future Generation
Descriptive
• Describes and explains specific corporate characteristics and behaviors.
– The nature of the firm – The way managers think about managing – How board members think about the interests of corporate constituencies – How some corporations are actually managed
• Dependent stakeholders
– who lack power but who have urgent legitimate – local residents, marine mammals and birds, and even the natural environment itself
• Relationship between Legitimacy and Power
• Urgency
– the degree to which stakeholder claims call for immediate attention. – (1) time sensitivity – (2) criticality
• Ronald K. Mitchell, Bradley R. Agle, Donna J. Wood, (1997) , Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts, The Academy of Management Review
Investors
A firm
Customers
Employees
(Donaldson & Preston, 1995)
A Stakeholder Model of a Firm
(Donaldson & Preston, 1995)
Suppliers
Government
Environmental Group
• Discretionary stakeholders
– possess legitimacy but no power and urgent claims – Examples: nonprofit organizations, hospital, schools
• Demanding stakeholders
• No argument on the definition of stakeholder. • What is needed is a theory of stakeholder identification that can reliably separate stakeholders from nonstakeholders. • A typology of stakeholders by considering three attributes.
Power
Dormant
Stakeholder
Dominant Stakeholder
Dangerous Stakeholder
Definitive Stakeholder
Dependent Stakeholder Discretionary Stakeholder
Demanding Stakeholder
财务管理目标
财务管理目标评价
利润 最大 化
每股 收益 最大 化Fra Baidu bibliotek
股东 财富 最大 化
企业 价值 最大 化
Discussion The purpose of financial management based on a stakeholder perspective
Corporate social responsibility(CSR)
• Legitimacy
– a generalized perception or assumption that the actions of an entity are desirable, proper, or appropriate within some socially constructed system of norms, values, beliefs, and definitions" (Suchman ,1995: 574)
T Donaldson, LE Preston, (1995), The stakeholder theory of the corporation: Concepts, evidence, and implications, Academy of management Review
A traditional input-output model of a firm
– The stakeholder’s power to influence the firm; – The legitimacy of the stakeholder’s relationship with the firm; – The urgency of the stakeholder’s claim on the firm.
Urgency
Legitimacy
(Mitchell, Agle & Wood, 1997)
Latent stakeholders
• Dormant stakeholders
– possess power but not legitimacy and urgency – their power remains unused—dormant – Examples: power is held by those who have a loaded gun (coercive), those who can spend a lot of money (utilitarian), or those who can command the attention of the news media (symbolic)
• Dangerous stakeholders
– Has urgency and power but lacks legitimacy – Examples: unlawful, yet common, attempts at using coercive means to advance stakeholder claims: employee sabotage, terrorism.
Why the three attributes?
Three attributes
• Power:
– a relationship among social actors in which one social actor, A, can get another social actor, B, to do something that B would not otherwise have done (Pfeffer, 1983) – [it is] the ability of those who possess power to bring about the outcomes they desire (Salancik & Pfeffer, 1974: 3)
• Corporate social responsibility (CSR) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. • The goal of CSR is to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders.
Definitive Stakeholders
• has power and legitimacy and ask for urgency • For example, stockholders see their stock values plummet, they may fire top managers.
Normative
• The identification of moral or philosophical guidelines for the operation and management of corporations. • Do (Don’t) do this because it is the right (wrong) thing to do.
Instrumental
• Connections between stakeholder management and the achievement of traditional corporation objectives (e.g., profitability, growth). • If you want to achieve(avoid) results X, Y, or Z, then adopt (don’t adopt) principles and practices A, B, or C.
Stakeholder Theory
• R. Edward Freeman (1984) Strategic Management: A Stakeholder Approach
The stakeholder theory
• The stakeholder theory is a theory of organizational management and business ethics that addresses morals and values in managing an organization. • It attempts to address the "Principle of Who or What Really Counts."
What’s a stakeholder?
• A broad way
– any group or individual who can affect or is affected by the achievement of the organization's objectives" (Freeman ,1984: 46) – Voluntary stakeholders bear some form of risk as a result of having invested some form of capital, human or financial, something of value, in a firm. Involuntary stakeholders are placed at risk as a result of a firm's activities. But without the element of risk there is no stake
– possess urgency but no power and legitimacy – "mosquitoes buzzing in the ears" of managers
Expectant Stakeholders
• Dominant stakeholders
– stakeholders are both powerful and legitimate – have some formal mechanism – Examples: corporate boards of directors; human resources department
Investors
A firm
Customers
Community
Employers
Future Generation
Descriptive
• Describes and explains specific corporate characteristics and behaviors.
– The nature of the firm – The way managers think about managing – How board members think about the interests of corporate constituencies – How some corporations are actually managed
• Dependent stakeholders
– who lack power but who have urgent legitimate – local residents, marine mammals and birds, and even the natural environment itself
• Relationship between Legitimacy and Power
• Urgency
– the degree to which stakeholder claims call for immediate attention. – (1) time sensitivity – (2) criticality
• Ronald K. Mitchell, Bradley R. Agle, Donna J. Wood, (1997) , Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts, The Academy of Management Review