The corporate stakeholder commitment and social and financial performance

Industrial Management and Data Systems

Volumn 107, Issue 1, 2007, Pages 84-102

  Moneva, Jose M ^a   Rivera Lirio, Juana M ^b   Muñoz Torres, María J ^b  

^a UNIVERSITY OF ZARAGOZA   (Spain)

^b UNIVERSITAT JAUME I   (Spain)

Author keywords

Corporate social responsibility; Financial performance; Mission statements; Spain; Stakeholder analysis; Sustainable development

Indexed keywords

ECONOMIC AND SOCIAL EFFECTS; RESEARCH AND DEVELOPMENT MANAGEMENT; SOCIAL ASPECTS; STRATEGIC PLANNING; SUSTAINABLE DEVELOPMENT;

CORPORATE SOCIAL RESPONSIBILITY; FINANCIAL PERFORMANCE; MISSION STATEMENTS; SPAIN; STAKEHOLDER ANALYSIS;

ECONOMICS;

EID: 33845728184     PISSN: 02635577     EISSN: None     Source Type: Journal    
DOI: 10.1108/02635570710719070     Document Type: Article

References (67)

1. AECA(Spanish Accounting and Company Administration Association) (2004), Conceptual Framework on Social Responsibility, Document No. 1 on Corporate Social Responsibility, AECA, Madrid.
2. Bansal, P. (2005), "Evolving sustainability: a longitudinal study of corporate sustainable development", Strategic Management Journal, Vol. 26 No. 3, pp. 197-218.
3. Bart, C.K. and Baetz, M.C. (1998), "The relationship between mission statements and firm performance: an exploratory study", The Journal of Management Studies, Vol. 35 No. 6, pp. 823-53.
4. Bart, C.K., Bontis, N. and Taggar, S. (2001), "A model of the impact of mission statements on firm performance", Management Decision, Vol. 39 No. 1, pp. 19-35.
5. Bartkus, B.R., Glassman, M. and McAfee, R.B. (2004), "A comparison of the quality of European, Japanese and US mission statements: a content analysis", European Management Journal, Vol. 22 No. 4, pp. 393-401.
6. Bartkus, B.R., Glassman, M. and McAfee, R.B. (2006), "Mission statement quality and financial performance", European Management Journal, Vol. 24 No. 1, pp. 86-94.
7. Bebbington, J. and Gray, R. (2001), "An account of sustainability: failure, success and a reconceptualization", Critical Perspectives on Accounting, Vol. 12 No. 5, pp. 557-87.
8. Berman, S.L., Wicks, A.C., Kotha, S. and Jones, T.M. (1999), "Does stakeholder orientation matter? The relationship between stakeholder management models and firm financial performance", Academy of Management Journal, Vol. 42 No. 5, pp. 488-506.
9. Bobek, V. and Vide, R.K. (2005), "The signification and the feasibility of measuring globalization of economy", Industrial Management & Data Systems, Vol. 105 No. 5, pp. 596-612.
10. Bose, R. (2004), "Knowledge management metrics", Industrial Management & Data Systems, Vol. 104 No. 6, pp. 457-68.
11. Bose, R. (2006), "Understanding management data systems for enterprise performance management", Industrial Management & Data Systems, Vol. 106 No. 1, pp. 43-59.
12. Bowen, H.R. (1953), Social Responsibilities of the Businessman, Harper & Row, New York, NY.
13. Burke, L. and Logsdon, J.M. (1996), "How corporate social responsibility pays off", Long Range Planning, Vol. 29 No. 4, pp. 495-502.
14. Carroll, A.B. (1979), "A three dimensional conceptual model of corporate performance", Academy of Management Review, Vol. 4 No. 4, pp. 497-505.
15. Clarkson, M. (1995), "A stakeholder framework for analyzing and evaluating corporate social performance", Academy of Management Review, Vol. 20 No. 1, pp. 92-117.
16. Cornell, B. and Shapiro, A.C. (1987), "Corporate stakeholders and corporate finance", Financial Management, Vol. 16 No. 1, pp. 5-14.
17. Danchev, A. (2006), "Social capital and sustainable behavior of the firm", Industrial Management & Data Systems, Vol. 106 No. 7, pp. 953-65.
18. De Colle, S. and Gonella, C. (2002), "The social and ethical alchemy: an integrative approach to social and ethical accountability", Business Ethics: A European Review, Vol. 11 No. 1, pp. 86-96.
19. Donaldson, T. and Preston, L.E. (1995), "The stakeholder theory of the corporation: concepts, evidence and implications", Academy of Management Review, Vol. 20 No. 1, pp. 65-91.
20. EC (2001), Green Paper: Promoting a European Framework for Corporate Social Responsibility, available at: http://europa.eu.int/comm/employmentsocial/ soc-dial/csr.htm.
21. EC (2002), Communication from the Commission, Concerning Corporate Social Responsibility: A Business Contribution to Sustainable Development, available at: http://europa.eu.int/comm/employmentsocial/soc-dial/csr/csr2002en.pdf.
22. Elkington, J. (1997), Cannibals with Forks: The Triple Bottom Line of 21st Century Business, Capstone, Oxford.
23. Freeman, R.E. (1984), Strategic Management: A Stakeholder Approach, Pitman Publishing Inc., Marshfield, MA.
24. Freeman, R.E. and McVea, J. (2001), "A stakeholder approach to strategic management", in Hitt, M., Freeman, R.E. and Harrison, J. (Eds), Handbook of Strategic Management, Blackwell Publishing, Oxford, pp. 189-207.
25. Freeman, R.E., Wicks, A.C. and Parmar, B. (2004), "Stakeholder theory and 'the corporate objective revisited'", Organization Science, Vol. 15 No. 3, pp. 364-9.
26. Friedman, M. (1962), Capitalism and Freedom, University of Chicago Press, Chicago, IL.
27. Friedman, M. (1970), "The social responsibility of business is to increase its profits", New York Times Magazine, 13 September, pp. 32-3,122,126.
28. Frooman, J. (1997), "Socially irresponsible and illegal behaviour and shareholder wealth: a meta-analysis of event studies", Business and Society, Vol. 36 No. 3, pp. 221-49.
29. Garriga, E. and Melé, D. (2004), "Corporate social responsibility theories: mapping the territory", Journal of Business Ethics, Vol. 53 Nos 1-2, pp. 51-71.
30. Gray, R. (2001), "Thirty years of social accounting, reporting and auditing: what (if anything) have we learnt?", Business Ethics: A European Review, Vol. 10 No. 1, pp. 9-15.
31. Greenley, G. and Foxall, G. (1997), "Multiple stakeholder orientation in UK companies and the implications for company performance", Journal of Management Studies, Vol. 34 No. 2, pp. 259-84.
32. GRI (2002), Sustainability Reporting Guidelines, Global Reporting Initiative, available at: www.globalreporting.org/guidelines/062002guidelines. asp.
33. Griffin, J. and Mahon, J. (1997), "The corporate social performance and the corporate financial performance debate", Business and Society, Vol. 36 No. 1, pp. 5-27.
34. Harrison, J.S. and St John, C.H. (1994), Strategic Management of Organizations and Stakeholders, West Publishing, St Paul, MN.
35. Hillman, A.J. and Keim, G.D. (2001), "Shareholder value, stakeholder management, and social issues: what's the bottom line?", Strategic Management Journal, Vol. 22 No. 2, pp. 125-39.
36. Husted, B.W. and de Jesus Salazar, J. (2006), "Taking friedman seriously: maximizing profits and social performance", Journal of Management Studies, Vol. 43 No. 1, pp. 75-91.
37. Igalens, J. and Gond, J.P. (2005), "Measuring corporate social performance in france: a critical and empirical analysis of ARESE data", Journal of Business Ethics, Vol. 56 No. 2, pp. 131-48.
38. Jones, T.M. (1995), "Instrumental stakeholder theory: a synthesis of ethics and economics", Academy of Management Review, Vol. 20 No. 2, pp. 404-37.
39. Knox, S., Maklan, S. and French, P. (2005), "Corporate social responsibility: exploring stakeholder relationship and programme reporting across leading FTSE companies", Journal of Business Ethics, Vol. 61 No. 1, pp. 7-28.
40. Kolk, A. (2004), "A decade of sustainability reporting: developments and significance", International Journal of Environment and Sustainable Development, Vol. 3 No. 1, pp. 51-64.
41. KPMG (2005), KPMG International Survey of Corporate Responsibility Reporting 2005, available at: www.kpmg.ca/en/industries/enr/energy/ globalSustainabilityReports.html.
42. Larrinaga, C., Carrasco, F., Correa, C., Moneva, J.M. and Llena, F. (2002), "Accountability and accounting regulation: the case of the Spanish environmental disclosure standard", European Accounting Review, Vol. 11 No. 4, pp. 723-40.
43. Leonard, L.N.K. and Cronan, T.P. (2005), "Attitude toward ethical behaviour in computer use: a shifting model", Industrial Management & Data Systems, Vol. 105 No. 9, pp. 1150-71.
44. Lin, C. and Tseng, H. (2006), "Identifying the pivotal role of participation strategies and information technology application for supply chain excellence", Industrial Management & Data Systems, Vol. 106 No. 5, pp. 739-56.
45. Llena, F., Moneva, J.M. and Hernandez, B. (2006), "Environmental disclosures and compulsory accounting standards: the case of Spanish annual reports", Business, Strategy and the Environment, available at: www3.interscience.wiley.com/cgi-bin/fulltext/112315522/PDFSTART. (accessed 25 January 2006).
46. McWilliams, A. and Siegel, D. (2001), "Corporate social responsibility: a theory of the firm perspective", Academy of Management Review, Vol. 26 No. 1, pp. 117-27.
47. McWilliams, A., Siegel, D.S. and Wright, P.M. (2006), "Corporate social responsibility: strategic implications", Journal of Management Studies, Vol. 43 No. 1, pp. 1-18.
48. Margolis, J. and Walsh, J. (2003), "Misery loves companies: rethinking social initiatives by business", Administrative Science Quarterly, Vol. 48 No. 2, pp. 268-305.
49. Omran, M., Atrill, P. and Pointon, J. (2002), "Shareholders versus stakeholders: corporate mission statements and investors returns", Business Ethics: A European Review, Vol. 11 No. 4, pp. 318-26.
50. Orlitzky, M., Schmidt, F.L. and Rynes, S.L. (2003), "Corporate social and financial performance: a meta-analysis", Organization Studies, Vol. 24 No. 3, pp. 403-41.
51. Palanisamy, R. (2005), "Strategic information systems planning model for building flexibility and success", Industrial Management & Data Systems, Vol. 105 No. 1, pp. 63-81.
52. Pearce, J.A. (1982), "The company mission as a strategic tool", Sloan Management Review, Vol. 23 No. 3, pp. 15-24.
53. Preble, J.F. (2005), "Toward a comprehensive model of stakeholder management", Business and Society Review, Vol. 110 No. 4, pp. 407-31.
54. Preston, L.E. and O'Bannon, D.P. (1997), "The corporate social-financial performance relationship: a typology and analysis", Business and Society, Vol. 36 No. 4, pp. 419-29.
55. Roman, R.M., Haybor, S. and Agle, B.R. (1999), "The relationship between social and financial performance", Business and Society, Vol. 38 No. 1, pp. 109-25.
56. Saad, G.H. (2001), "Strategic performance evaluation: descriptive and prescriptive analysis", Industrial Management & Data Systems, Vol. 101 No. 8, pp. 390-9.
57. Salzmann, O., Ionescu-Somers, A. and Steger, U. (2005), "The business case for corporate sustainability: literature review and research options", European Management Journal, Vol. 23 No. 1, pp. 27-36.
58. Sidhu, J. (2003), "Mission statements: is it time to shelve them?", European Management Journal, Vol. 21 No. 4, pp. 439-46.
59. Snider, J., Hill, R.P. and Martin, D. (2003), "Corporate social responsibility in the 21st century: a view from the world's most successful firms", Journal of Business Ethics, Vol. 48 No. 2, pp. 175-87.
60. Steurer, R., Langer, M.E., Konrad, A. and Martinuzzi, A. (2005), "Corporations, stakeholders and sustainable development I: a theoretical exploration of business-society relations", Journal of Business Ethics, Vol. 61 No. 3, pp. 263-81.
61. Verschoor, C.C. (1998), "A study of the link between a corporation's financial performance and its commitment to ethics", Journal of Business Ethics, Vol. 17 No. 13, pp. 1509-16.
62. Waddock, S.A. and Graves, S.B. (1997a), "The corporate social performance-financial performance link", Strategic Management Review, Vol. 10, pp. 758-69.
63. Waddock, S.A. and Graves, S.B. (1997b), "The corporate social performance-financial performance link", Strategic Management Journal, Vol. 18 No. 4, pp. 303-19.
64. Wartick, S.L. and Cochran, P.L. (1985), "The evolution of the corporate social performance model", Academy of Management Review, Vol. 10 No. 4, pp. 758-69.
65. Wood, D.J. (1991), "Corporate social performance revisited", Academy of Management Review, Vol. 16 No. 4, pp. 691-718.
66. World Commission on Environment and Development (WCED) (1987), Our Common Future, Oxford University Press, Oxford.
67. Xu, H., Nord, J.H., Nord, G.D. and Lin, B. (2003), "Key issues of accounting information quality management: Australian case studies", Industrial Management & Data Systems, Vol. 103 No. 7, pp. 461-70.