Directors' Roles in Corporate Social Responsibility: A Stakeholder Perspective

Journal of Business Ethics

Volumn 103, Issue 3, 2011, Pages 385-402

  Hung, Humphry ^a  

^a HONG KONG POLYTECHNIC UNIVERSITY   (Hong Kong)

Author keywords

corporate directors; corporate social responsibility roles; stakeholders

Indexed keywords

EID: 80053328577     PISSN: 01674544     EISSN: 15730697     Source Type: Journal    
DOI: 10.1007/s10551-011-0870-5     Document Type: Article

References (123)

1. Aguilera, R. V. and G. Jackson: 2003, 'The cross-national diversity of corporate governance: Dimensions and determinants', Academy of Management Review 28 (3), 447-59.
2. Atkinson, A. A., J. H. Waterhouse, and R. B. Wells: 1997, 'A stakeholder approach to strategic performance measurement', Sloan Management Review, 38 (3), 25-37.
3. Baker, W.: 1990. 'Market networks and corporate behavior', American Journal of Sociology96(3), 589-625.
4. Barney J. B. 2001. 'Resource-based theories of competitive advantage: a ten-year retrospective on the resource-based view'. Journal of Management27, 643-650.
5. Baysinger, B., G. Keim and C. Zeithaml: 1985, 'An empirical evaluation of the potential for including shareholders in corporate constituency programs', Academy of Management Journal28: 180-200.
6. Berle. A. and G. Means. 1932. The Modern Corporation and Private Property, London: Macmillan.
7. Boddewyn, J. J. 1988, 'Political Aspects of MNE Theory', Journal of International Business Studies19(3): 341-63.
8. Bond, M. 2004. 'Social influences on corporate political donations in Britain', British Journal of Sociology55 (1), 56-71.
9. Bourdieu, P. and L. J. D. Wacquant, 1992. An Invitation to Reflexive Sociology, Chicago: University of Chicago Press.
10. Brenner, S. N., and P. Cochran: 1991. 'The stakeholder theory of the firm: Implications for business and society theory and research', Paper presented at the annual meeting of the International Association for Business and Society, Sundance, Utah.
11. Buchholz, R. A. 1992. Business environments and public policy, Englewood Cliffs, NJ: Prentice-Hall.
12. Buchholz, R. A. 1993. Principles of environmental management: The greening of business. Englewood Cliffs, NJ: Prentice Hall.
13. Bull, C. 1987. 'The existence of self-enforcing implicit contracts', Quarterly Journal of Economics. 102 (1), 147-159.
14. Bulow, J, and K. Rogoff, 1989, 'A Constant Recontracting Model of Sovereign Debt', Journal of Political Economy, 97: 155-178.
15. Burt, R. 1983. Corporate Ties and Cooptation: Networks of Market Constraints and Directorate Ties in the American Economy. Academic Press, New York.
16. Carpenter, M. A. and J. D. Westphal: 2001. 'The strategic context of external network ties: Examining the impact of director appointments on board involvement in strategic decision making', Academy of Management Journal44 (4), 639-660.
17. Carroll, A. B., 1999. 'Corporate social responsibility: Evolution of a definitional construct', Business and Society, 38 (3): 268-295.
18. Carter, R. 1990. 'The relationship between racism and racial identity among White Americans: An exploratory investigation'. Journal of Counseling and Development69: 46-50.
19. Charkham, J. P. 1994, Keeping Good Company: A Study of Corporate Governance in Five Countrie,. Clarendon Press, Oxford.
20. Chen, S. 2011, 'The role of ethical leadership versus institutional constraints: A simulation study of financial misreporting by CEOs'. Journal of Business Ethics93 Suppl 1: 33-52.
21. Chen, S. and P. Bouvain: 2009, 'Is Corporate Responsibility Converging? A Comparison of Corporate Responsibility Reporting in the USA, UK, Australia, and Germany', Journal of Business Ethics 87, 299-317.
22. Clarkson, M. B E. 1995, 'A stakeholder framework for analyzing and evaluating corporation', Academy of Management Review, 20(1): 92-117.
23. Colella, A., 2001. 'Coworker distributive fairness judgments of the workplace accommodation of employees with disabilities', Academy of Management Review, 26(1): 100-16.
24. Coleman, J. S. 1990 Foundations of Social Theory, Cambridge Mass: The Belknap Press of Harvard University Press.
25. Collis, D. J., and Montgomery, C. A. 1995. 'Competing on Resources: Strategy in the 1990 s', Harvard Business Review, 73(4): 118-128.
26. Cornell, B., A. C. Shapiro, 1987 Corporate Stakeholders and Corporate Finance. Financial Management (Spring), aa, 5-14.
27. Cummings, J. L. and Doh, J. P., 2000. 'Identifying who matters: Mapping key players in multiple environments', California Management Review, 42(2): 83 -104.
28. Cutting, B, and Kouzmin, A. 2002, 'Evaluating corporate board cultures and decision making', Corporate Governance, 2(2): 27-45.
29. Deegan, C. 2002. 'Introduction - The Legitimizing Effect of Social and Environmental Disclosures - A Theoretical Foundation', Accounting, Auditing and Accountability Journal. 15(3): 282-311.
30. Demb, A., and F. Neubauer, 1992. 'The corporate board: Confronting the paradoxes', Long Range Planning, 25(3): 9-20.
31. Donaldson, L., 1990. 'The ethereal hand: Organizational economics and management theory', Academy of Management Review, 15 (3): 369-381.
32. Donaldson, T. and Preston, L. E. 1995. 'The stakeholder theory of the corporation: Concepts, evidence', Academy of Management Review, 20(1): 65-91.
33. Egri, C. P. 1999. 'The environmental round table role-play exercise: the dynamics of multi-stakeholder decision-making processes', Journal of Management Education, 23(1): 95-112.
34. Eisenhardt, K. M. 1989. 'Agency theory: An assessment and review', Academy of Management Review, 14(1): 57-74.
35. stcentury business, Capstone, Oxford.
36. Fama, E., and M. Jensen. 1983. 'Separation of ownership and control', Journal of Law and Economics, 26: 301-325.
37. Fennell, M. L., and Alexander, J. A. 1987. 'Governing boards and profound organizational change in hospitals', Medical Care Review, 46(2), 157-187.
38. Forbes, D. P. and Milliken, F. J. 1999, 'Cognition and corporate governance: understanding boards of directors as strategic decision-making groups', Academy of Management Review, 24: 489-506.
39. Freeman, R. E. 1984. Strategic management: A stakeholder approach, London: Pitman.
40. Freeman, R. E., 1999. 'Divergent stakeholder theory', Academy of Management Review, 24(2): 233-6.
41. Frooman, J. 1999. 'Stakeholders influence strategies', Academy of Management Review, 24(2): 191-205.
42. Galbraith, J. R. and Kazanjian, R. 1986. Strategy implementation: The role of structure in process. St. Paul: West Publishing.
43. Gale, J., and Buchholz, R. 1987. 'The political pursuit of competitive advantage: What business can gain from government? 'In A. Marcus, A. Kaufman, and D. Beam (Eds.), Business strategy and public policy, 231-252. New York: Quorum.
44. Getz, K. A. 1993. 'Selecting corporate political tactics'. In B. Mitnick (Ed.), Corporate political agency: 152-170. Newbury Park, CA: Sage.
45. Getz, K. A. 1997. 'Research in corporate political action: Integration and assessment'. Business and Society, 36(1): 32-72.
46. Gioia D. A. 1999. 'Practicability, paradigms, and problems in stakeholder theorizing', Academy of Management Review, 24(2): 228-232.
47. Gray, R. H., Owen, D. and Adams, C. 1996. Accounting and Accountability. Hemel Hempstead: Prentice Hall.
48. Gulati, R. and Westphal, J. D. 1999. 'Cooperative or controlling? The effects of CEO-board relations and the content of interlocks on the formation of joint ventures', Administrative Science Quarterly, 44: 473-506.
49. Haas, P. M. 1992. 'Epistemic Communities And International Policy Coordination - Introduction'. International Organization, 46(1): 1-35.
50. Halal, W. E. 1990. 'The new management: Business and social institutions for the information age', Business in the Contemporary World, 2: 41-54.
51. Harrison, J. S. and Freeman, R. E. 1999. 'Stakeholders, social responsibility, and performance: Empirical evidence and theoretical perspectives', Academy of Management Review, 42 (5): 479-495.
52. Hill, C. W. L. and Jones, T. M. 1992. 'Stakeholder-agency theory', Journal of Management Studies, 29(2): 131-154.
53. Hillman A. J., Michael A. H. (1999) 'Corporate Political Strategy Formulation: A Model of Approach, Participation, and Strategy Decisions'. Academy of Management Review 24(4): 825-42.
54. Hillman A. J., Keim G. D., Luce R. A. (2001) Board Composition and Stakeholder Performance: Do Stakeholder Directors Make a Difference?'. Business and Society 40 (3): 295-314.
55. Hillman A., Zardkoohi A., Bierman L. (1999) Corporate political strategies and firm performance: Indications of firm-specific benefits from personal service in the U. S. government'. Strategic Management Journal 20: 67-81.
56. Hrebiniak, L. G., and William, F. J., 1985, 'Organizational adaptation, strategic choice and environmental determinism', Administrative Science Quarterly30: 336-349.
57. Hung, H. 1998, 'A typology of the theories of the roles of governing boards', Corporate Governance: An International Review, 6 (2): 101-111.
58. Huse, M. 2000, 'Boards of directors in SMEs: a review and research agenda', Entrepreneurship and Regional Development, 12 (2): 271-290.
59. Jawahar, I. M. and McLaughlin, G. L. 2001. 'Toward a descriptive stakeholder theory: An organizational life cycle approach', Academy of Management Review, 26(3): 397-415.
60. Jensen, M. C., 1986. 'Agency costs of free cash flow, corporate finance, and takeovers', American Economic Review, 76: 323-329.
61. Jones, T. M. 1995. 'Instrumental stakeholder theory: A synthesis of ethics and economics'. Academy of Management Review, 20: 404-437.
62. Jones, T. M. and Wicks, A. C., 1999. 'Convergent stakeholder theory', Academy of Management Review, 24 (2): 206-22.
63. Kassinis, G. and Vafeas, N. 2002. 'Corporate boards and outside stakeholders as determinants of environmental litigation', Strategic Management Journal, 23(5): 399-415.
64. Keim, G., and Baysinger, B. 1988. 'The efficacy of business political activity', Journal of Management, 14: 163-180.
65. Keim, G., and Zeithaml, C. 1986. 'Corporate political strategies and legislative decision making: A review and contingency approach', Academy of Management Review, 11: 828-843.
66. Korac-Kakabadse N., Kakabadse A. X., Kouzmin A. (2001) 'Board governance and company performance: any correlations?'. Corporate Governance 1 (1): 24-30.
67. Kosnik, R. D. 1987. 'Greenmail: A study of board performance in corporate governance', Administrative Science Quarterly, 32: 163-185.
68. Kotter, J., and Heskett, J. 1992. Corporate Culture and Performance, New York: Free Press.
69. Lord, M., 2000. 'Corporate political strategy and legislative decision making: The impact of corporate legislative influence activities', Business and Society, 39: 76-93.
70. Lorsch, J. W. and Maclver, E. A. 1989. Pawns or Potentates: The Reality of America's Corporate Boards, Boston: Harvard School Press.
71. Maak, T. and N. Pless: 2009, 'Business Leaders as Citizens of the World: Advancing Humanism on a Global Scale', Journal of Business Ethics88, 537-550.
72. Mahon, J. E., 1989. 'Corporate Political Strategy', Business in the Contemporary World, 2 (1): 50-62.
73. Maitland, I. 1985. 'The Limits of Business Self-Regulation', California Management Review, 27 (3): 132 - 147.
74. Mallette, P. and Fowler, K. L. 1992. 'Effects of board composition and stock ownership on the adoption of poison pills'. Academy of Management Journal, 35: 1010-1035.
75. Marcus, G.: 1987. 'The Structure of Emotional Appraisal: 1984 Presidential Candidates'. Paper presented at the 10th Annual Meeting of the International Society of Political Psychology, July 4-7, 1987, San Francisco, CA.
76. Marcus, A. A. 1993. Business and society: Ethics, government and the world economy, Homewood, Il: Irwin.
77. Matthews, M. R. 1993. Socially Responsible Accounting, London: Chapman and Hall.
78. Mattingly, J. E., 2004, 'Redefining the Corporation: Stakeholder Management and Organizational Wealth', Academy of Management Review, 29(3): 520-30.
79. Middleton, M. 1987. 'Non-profit boards of directors: Beyond the governance function', in W. W. Powell (ed.), The Nonprofit Sector, New Haven: Yale University Press.
80. Mileham, P. 1995. Corporate leadership: How well do non-executive influence Boards? Journal of General Management, 21(2): 1-21.
81. Miller, S.: 1992. 'Establishing an effective board of directors', a speech given at the Seminar on Establishing an Effective Board of Directors, August 4, 1992.
82. Mitchell, R. K., Agle, B. and Wood, D. 1997. 'Toward a theory of stakeholder identification and salience: defining the principle of who and what really counts', Academy of Management Review, 22 (4): 853 - 886.
83. Mitnick, B. 1993. Choosing agency and competition. In B. Mitnick (Ed.), Corporate political agency, 1-12. Newbury Park, CA: Sage.
84. Monks R. A. G., Minow N. (1996) Corporate Governance, Blackwell Publishers, Oxford.
85. Murray, J.: 2003. 'The Global Context: Multinational Enterprises, Labor Standards, And Regulation', in L. P. Hartman, D. G. Arnold and R. E. Wokutch (eds.), Rising above sweatshops: Innovative approaches to global labor challenges (Westport, Preager).
86. Neilsen, E., Rao, H., and Hayagreeva, M. V. 1987. 'The Strategy-Legitimacy Nexus: A Thick Description', Academy of Management Review, 12(3): 523-533.
87. Oberman, W. 1993. 'Strategy and tactic choice in an institutional resource context'. In B. Mitnick (Ed.), Corporate political agency: 301-324. Newbury Park, CA: Sage.
88. Ogden, S. and Watson, R. 1999. 'Corporate performance and stakeholder management: Balancing shareholder and customer interests in the U. K.', Academy of Management Journal, 42 (5): 526-538.
89. Page, M. and Spira, L. F. 2000, 'Who steals my purse steals trash.': Reputation as a factor in establishing the value of non-executive directors and members of audit committees', International Journal of Management and Decision Making, 1 (1): 14 - 27.
90. Parsons, 1960, Structure and process in modern societies, Glencoe, IL: Free Press.
91. Porter, M. E., 1992. Capital Choices: Changing the Way America Invests in Industry, U. S. Council on Competitiveness, Washington, DC.
92. Portes, A. 1998. 'Social capital: Its origins and applications in modern sociology'. Annual Review of Sociology, 24: 1-24.
93. Portes, A., and Sensenbrenner, J. 1993. 'Embeddedness and Immigration: Notes on the Social Determinants of Economic Action'. American Journal of Sociology98: 1320-1350.
94. Preston, L. E. 1998. 'Agents, stewards, and stakeholders', Academy of Management Review, 23(1): 9-10.
95. Putnam, R.: 1995. 'Bowling Alone: America's Declining Social Capital', Journal of Democracy6 (Jan), 65-78.
96. Pye, A. J. and Camm, G., 2003, 'Non-executive directors: Moving beyond the "one-size-fits-all" view', Journal of General Management, 28 (3): 52-70.
97. Pye, A. J. and Pettigrew, A. 2005, 'Studying Board Context, Process and Dynamics: Some Challenges for the Future', British Journal of Management, 16(1): 27-38.
98. Roberts, J., McNulty, T. and Stiles, P. 2005, 'Beyond Agency Conceptions of the Work of the Non-Executive Director: Creating Accountability in the Boardroom', British Journal of Management, 16 (1), 5-26.
99. Rowley, T. J. 1997. 'Moving beyond dyadic ties: A network theory of stakeholder influences', Academy of Management Review, 22(4): 887-910.
100. Russo, M. and Fouts, P. 1997. 'A resource-based perspective on corporate environmental performance and profitability', Academy of Management Journal, 40: 534-559.
101. Schollhammer, H. 1975. 'Business-government relations in an international context: An assessment.' In P. Boarman and H. Schollhammer (Eds.), Multinational corporations and governments: Business-government relations in an international context: 32-51. New York: Praeger.
102. Scott, W. R. and J. W. Meyer: 1983, 'The Organization of Societal Sectors: Hypothesis and Early Evidence', in W. W. Powell and P. J. DiMaggio (eds.), The New Institutionalism in Organizational Analysis (University of Chicago Press, Chicago), pp. 108-140.
103. Scott, S. G. and Lane, V. R. 2000. 'A stakeholder approach to organizational identity', Academy of Management Review, 25(1): 43-62.
104. Sethi, P. 1982. 'Corporate political activism'. California ManagementReview. 24(2): 32-42.
105. Singh, H. and Harianto, F. 1989. 'Management-board relationships, takeover risk, and the adoption of golden parachutes', Academy of Management Journal, 32(1): 7-24.
106. Starik, M. 1995. 'Should Trees Have Managerial Standing? Toward Stakeholder Status for Non-Human Nature', Journal of Business Ethics14(3): 207-17.
107. Stiles, P. 2001. 'The Impact of the Board on Strategy: An Empirical Examination', Journal of Management Studies, 38 (3): 627-650.
108. Stiles, P., and Taylor, B., 1996. 'The strategic role of the board' Corporate Governance, AnInternational Review, 4(1): 3-10.
109. Taylor, E. Z. and M. B. Curtis: 2010, 'An Examination of the Layers of Workplace Influences in Ethical Judgments: Whistleblowing Likelihood and Perseverance in Public Accounting', Journal of Business Ethics93, 21-37.
110. Thompson J. K., Hood J. N. (1993) 'The Practice of Corporate social Performance in Minority- Versus Nonminoirty-Owned Small Businesses'. Journal of Business Ethics 12, 197-206.
111. Tollison, R. D. 1982, Rent Seeking: A Survey, Kyklos, 35(3): 575-602.
112. Trevino, L. K. and Weaver, G. R. 1999. 'The stakeholder research tradition: Converging theorists-not convergent theory', Academy of Management Review, 24(2): 222-227.
113. Tricker, R. I. 1994. International Corporate Governance, Singapore: Prentice Hall.
114. Useem, M. 1983: The inner circle: Large corporations and business politics in the U. S. and UK. New York: Oxford University Press.
115. Vogel, D. 1996. 'The study of business and politics'. California Management Review, 38: 146-162.
116. Walker G, Kogut B., Shan W. (1997) Social capital, structural holes and the formation of an industry network. Organization Science 8: 109-125.
117. Wang, J. and Dewhirst, H. D.: 1992. Boards of directors and stakeholder orientation, Journal of Business Ethics, 11: 115-123.
118. Weidenbaum, M.: 1980. Public policy: No longer a spectator sport for business, Journal of Business Strategy, 3(4): 46-53.
119. Westphal, J. D., and E. J. Zajac: 1998. 'The symbolic management of stockholders: Corporate governance reform and shareholder reactions', Administrative Science Quarterly, 43, 127-153.
120. Wood, D. 1986. Strategic uses of public policy. Marshfield, MA: Pitman Publishing.
121. Woodward, D. G., P. Edwards, and F. Birkin: 1996. 'Organizational Legitimacy and Stakeholder Information Provision', British Journal of Management7, 329-347.
122. Yoffie, D. 1987. 'Corporate strategy for political action: A rational model'. In A. Marcus, A. Kaufman, and D. Beam (Eds.), Business strategy and public policy: 92-111. New York: Quorum.
123. Zahra, S. A., and J. A. Pearce: 1989. 'Boards of directors and corporate financial performance: A review and integrative model', Journal of Management, 15(2), 291-344.