Stakeholder agency and Social welfare: Pluralism and decision making in the multi-objective corporation

Academy of Management Review

Volumn 41, Issue 2, 2016, Pages 252-275

  Mitchell, Ronald K ^a   Weaver, Gary R ^b   Agle, Bradley R ^c   Bailey, Adam D ^d   Carlson, James ^e  

^a TEXAS TECH UNIVERSITY   (United States)

^b UNIVERSITY OF DELAWARE   (United States)

^c BRIGHAM YOUNG UNIVERSITY   (United States)

^d BLACK HILLS STATE UNIVERSITY   (United States)

^e TEXAS TECH UNIVERSITY HEALTH SCIENCES CENTER   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84962861299     PISSN: 03637425     EISSN: None     Source Type: Journal    
DOI: 10.5465/amr.2013.0486     Document Type: Article

References (167)

1. Andrews, K. R. 1971. The concept of corporate strategy. Homewood, IL: Dow Jones-Irwin.
2. Aristotle. 1999. Nicomachean ethics. (Translated by T. Irwin.) Indianapolis: Hackett Publishing Company.
3. Aristotle. 2005. Politics. (Translated by B. Jowett.) Stilwell, KS: Digireads Publishing.
4. Arnold, D. G., Audi, R., & Zwolinski, M. 2010. Recent work in ethical theory and its implications for business ethics. Business Ethics Quarterly, 20:559-581.
5. Arrow, K. J. 1950. A difficulty in the concept of social welfare. Journal of Political Economy, 58:328-346.
6. Arrow, K. J. 1970. Political and economic evaluation of social effects and externalities. In J. Margolis (Ed.), The analysis of public output: 1-30. New York: National Bureau of Economic Research.
7. Arrow, K. J. 1974. General economic equilibrium: Purpose, analytic techniques, collective choice. American Economic Review, 64:253-272.
8. Arrow, K. J., Dasgupta, P., & Mahler, K.-G. 2003. Evaluating projects and assessing sustainable development in imperfect economies. Environmental and Resource Economics, 26:647-685.
9. Bainbridge, S. M. 1996. Participatory management within a theory of the firm. Journal of Corporation Law, 21:657-717.
10. Balkundi, P., & Kilduff, M. 2006. The ties that lead: A social network approach to leadership. Leadership Quarterly, 17:419-439.
11. Battilana, J., Leca, B., & Boxenbaum, E. 2009. How actors change institutions: Towards a theory of institutional entrepreneurship. Academy of Management Annals, 3:65-107.
12. Battilana, J., & Lee, M. 2014. Advancing research on hybrid organizing: Insights from the study of social enterprises. Academy of Management Annals, 8:397-441.
13. Baumeister, R. F. 1991. Meanings of life. New York: Guilford Press.
14. Baumeister, R. F., Vohs, K. D., Aaker, J. L., & Barbinsky, E. N. 2013. Some key differences between a happy life and a meaningful life. Journal of Positive Psychology, 8:505-516.
15. Bear, S., Rahman, N., & Post, C. 2010. The impact of board diversity and gender composition on corporate social responsibility and firm reputation. Journal of Business Ethics, 97:207-221.
16. Bellah, R. N., Madsen, R., Sullivan, W. M., Swidler, A., & Tipton, S. M. 1991. The good society. New York: Vintage Books.
17. Berle, A. A., & Means, G. C. 1932. The modern corporation. New York: Macmillan.
18. Berlin, I., & Hardy, H. 2002. Liberty: Incorporating "Four essays on liberty." Oxford: Oxford University Press.
19. Berman, S. L., Wicks, A. C., Kotha, S., & Jones, T. M. 1999. Does stakeholder orientation matter? The relationship between stakeholder management models and firm financial performance. Academy of Management Journal, 42:488-506.
20. Besharov, M. L., & Smith, W. K. 2014. Multiple institutional logics in organizations: Explaining their varied nature and implications. Academy of Management Review, 39:364-381.
21. Bitektine, A., & Haack, P. 2015. The "macro" and the "micro" of legitimacy: Toward a multilevel theory of the legitimacy process. Academy of Management Review, 49:49-75.
22. Bittle, C. E. 1950. Man and morals. Milwaukee, WI: Bruce Publishing Company.
23. Bowen, H. R. 1953. Social responsibilities of the businessman. New York: Harper & Brothers.
24. Bratton, W. W., & Wachter, M. L. 2008. Shareholder primacy's corporatist origins: Adolf Berle and the modern corporation. Journal of Corporation Law, 34:99-152.
25. Burton, W. C. 2007. Burton's legal thesaurus (4th ed.). New York: McGraw-Hill.
26. Cameron, K. S. 1986. Effectiveness as a paradox: Consensus and conflict in conceptions of organizational effectiveness. Management Science, 32:539-553.
27. Carter, D. A., Simkins, B. J., & Simpson, W. G. 2003. Corporate governance, board diversity, and firm value. Financial Review, 38:33-53.
28. Coase, R. H. 1937. The nature of the firm. Economica, 4:386-405.
29. Daly, M., & Lewis, J. 2000. The concept of social care and the analysis of contemporary welfare states. British Journal of Sociology, 51:281-298.
30. Dancy, J. 2004. Ethics without principles. Oxford: Oxford University Press.
31. Dancy, J. 2013. Moral particularism. Stanford Encyclopedia of Philosophy, September 21: http://plato.stanford.edu/archives/fall2013/entries/moral-particularism/.
32. Davis, K. 1973. The case for and against business assumption of social responsibilities. Academy of Management Journal, 16:312-322.
33. Demichelis, S., & Ritzberger, K. 2011. A general equilibrium analysis of corporate control and the stock market. Economic Theory, 46:221-254.
34. Ditto, P. H., Pizarro, D. A., & Tannenbaum, D. 2009. Motivated moral reasoning. Psychology of Learning and Motivation, 50:307-338.
35. Dobbin, F., & Jung, J. 2010. The misapplication of Mr. Michael Jensen: How agency theory brought down the economy and why it might again. Research in the Sociology of Organizations, 30:29-64.
36. Dolgoff, R., & Feldstein, D. 1980. Understanding social welfare. New York: Harper & Row.
37. Donaldson, T., & Dunfee, T. W. 1999. Ties that bind: A social contracts approach to business ethics. Cambridge, MA: Harvard Business Press.
38. Dreyfus, H. L., & Dreyfus, S. E. 1986. Mind over machine: The power of human intuition and expertise in the era of the computer. New York: Free Press.
39. Durant, W. 1935. The story of civilization. New York: Simon and Schuster.
40. Dutton, J. E. 1997. Strategicagenda buildinginorganizations. In Z. Shapira (Ed.), Organizational decision making: 81-107. Cambridge: Cambridge University Press.
41. Egan, L. C., Bloom, P., & Santos, L. R. 2010. Choice-induced preferences in the absence of choice: Evidence from a blind two choice paradigm with young children and capuchin monkeys. Journal of Experimental Social Psychology, 46:204-207.
42. Einhorn, H. J., & Hogarth, R. M. 1981. Behavioral decision theory: Processes of judgment and choice. Annual Review of Psychology, 32:53-88.
43. st century business. North Mankato, MN: Capstone Publishing.
44. Erhardt, N. L., Werbel, J. D., & Shrader, C. B. 2003. Board of director diversity and firm financial performance. Corporate Governance: An International Review, 11:102-111.
45. Fagothey, A. 1959. Right and reason: Ethics in theory and practice (2nd ed.). Charlotte, NC: TAN Books.
46. Fama, E., & Jensen, M. 1983. Agency problems and residual claims. Journal of Law and Economics, 26:327-349.
47. Ferraro, F., Pfeffer, J., & Sutton, R. I. 2005. Economics language and assumptions: How theories canbecome self-fulfilling. Academy of Management Review, 30:8-24.
48. Festinger, L. 1957. A theory of cognitive dissonance. Stanford, CA: Stanford University Press.
49. Filatotchev, I., & Nakajima, C. 2014. Corporate governance, responsible management behavior, and corporate social responsibility: Organizational efficiency versus organizational legitimacy? Academy of Management Perspectives, 28(3):289-305.
50. Finnis, J. 2011a. Natural law and natural rights (2nd ed.). Oxford: Oxford University Press.
51. Finnis, J. 2011b. Reason in action: Collected essays, vol. I. Oxford: Oxford University Press.
52. Fleurbaey, M. 2009. Beyond GDP: The quest for a measure of social welfare. Journal of Economic Literature, 47:1029-1075.
53. Freeman, R. E., & Reed, D. L. 1983. Stockholders and stakeholders: A new perspective on corporate governance. California Management Review, 25(3):88-106.
54. Friedlander, W. A., & Apte, R. Z. 1980. Introduction to social welfare. Englewood, NJ: Prentice-Hall.
55. Friedman, M. 1962. Capitalism and freedom. Chicago: University of Chicago Press.
56. Friedman, M. 1970. The social responsibility of business is to increase its profits. New York Times, September 13:32-33.
57. Galbraith, J. K. 1997. The good society: The humane agenda. Boston: Houghton Mifflin Harcourt.
58. Galston, W. A. 2002. Liberal pluralism: The implications of value pluralism for political theory and practice. Cambridge: Cambridge University Press.
59. Galston, W. A. 2005. The practice of liberal pluralism. Cambridge: Cambridge University Press.
60. Galston, W. A. 2006. Families, associations, and political pluralism. Fordham Law Review, 75:815-831.
61. George, R. P. 1999. In defense of natural law. New York: Oxford University Press.
62. Goranova, M., & Ryan, L. V. 2014. Shareholder activism: A multidisciplinary review. Journal of Management, 40:1230-1268.
63. Graham, J., Haidt, J., Koeva, S., Motyl, M., Iyer, R., Wojcik, S. P., & Ditto, P. H. 2013. Moral foundations theory: The pragmatic validity of moral pluralism. Advances in Experimental Social Psychology, 47:55-130.
64. Gupta, A. 2011. L3Cs and B Corps: New corporate forms fertilizing the field between traditional for-profit and nonprofit corporations. NYU Journal of Law & Business, 8:203-226.
65. Haidt, J. 2012. The righteous mind. New York: Pantheon Books.
66. Haidt, J., Koller, S., & Dias, M. 1993. Affect, culture, and morality, or is it wrong to eat your dog? Journal of Personality and Social Psychology, 65:613-628.
67. Harrison, J. S., & vander Laan Smith, J. 2015. Responsible accounting for stakeholders. Journal of Management Studies, 52:935-960.
68. Haybron, D. 2011. Happiness. Stanford Encyclopedia of Philosophy, September 21: http://plato.stanford.edu/archives/fall2011/entries/happiness/.
69. Heath, J. 2014. Morality, competition, and the firm: The market failures approach to business ethics. Oxford: Oxford University Press.
70. Heathwood, C. 2015. Monism and pluralism about value. In I. Hirose & J. Olson (Eds.), The Oxford handbook of value theory: 136-157. Oxford: Oxford University Press.
71. Henrich, J., Heine, S. J., & Norenzayan, A. 2010. The weirdest people in the world? Behavioral and Brain Sciences, 33(2-3):61-83.
72. Hill, C. W. L., & Jones, T. M. 1992. Stakeholder-agency theory. Journal of Management Studies, 29:131-154.
73. Hiller, S. 2013. The benefit corporation and corporate social responsibility. Journal of Business Ethics, 118:287-301.
74. Hirschman, A. O. 1970. Exit, voice, and loyalty: Reponses to declines in firms, organizations, and states. Cambridge, MA: Harvard University Press.
75. James, W. 1977. A pluralistic universe, vol. 4. Cambridge, MA: Harvard University Press.
76. Jensen, M. C. 2001. A theory of the firm: Governance, residual claims, and organizational forms. Cambridge, MA: Harvard University Press.
77. Jensen, M. C. 2002. Value maximization, stakeholder theory, and the corporate objective function. Business Ethics Quarterly, 12:235-256.
78. Jensen, M. C., & Meckling, W. H. 1976. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3:305-360.
79. Jones, T. M. 1980. Corporate social responsibility revisited, redefined. California Management Review, 22(3):59-67.
80. Jones, T. M., & Felps, W. 2013a. Shareholder wealth maximization and social welfare: A utilitarian critique. Business Ethics Quarterly, 23:207-238.
81. Jones, T. M., & Felps, W. 2013b. Stakeholder happiness enhancement: A neo-utilitarian objective for the modern corporation. Business Ethics Quarterly, 23:349-379.
82. Kant, I. 1997. (First published in 1785.) Groundwork of the metaphysics of morals. (Translated and edited by M. Gregor.) Cambridge: Cambridge University Press.
83. Kekes, J. 2000. Pluralism in philosophy: Changing the subject. Ithaca, NY: Cornell University Press.
84. Keyes, C. L. M. 1998. Social well-being. Social Psychology Quarterly, 61:121-140.
85. Knafo, S. 2015. Why somecompanies are legallyswearing they won't be evil. Atlantic, June 4: http://www.theatlantic.com/business/archive/2015/06/b-lab-b-corp-certification-socialresponsibility/394820/#ixzz3cKxLHhuh.
86. Kohlberg, L. 1981. The philosophyof moral development: Moral stages and the idea of justice. San Francisco: Harper & Row.
87. Lawrence, T. B., Suddaby, R., & Leca, B. 2009. Institutional work: Actors and agencyin institutional studies oforganizations. Cambridge: Cambridge University Press.
88. Leontief, W. 1966. Essays in economics: Theories and theorizing. New York: Oxford University Press.
89. Liebeskind, J. P. 1996. Knowledge, strategy, and the theory of thefirm. Strategic Management Journal, 17(Supplement2):S93-S107.
90. Lounsbury, M., & Hirsch, P. M. (Eds.). 2010. Markets on trial: The economic sociologyof the U. S. financial crisis. Bingley, UK: Emerald Books.
91. Margolis, J. D., & Walsh, J. P. 2001. People and profits? The searchforalinkbetweenacompany'ssocial and financial performance. Mahwah, NJ: Lawrence Erlbaum Associates.
92. Mason, E. 2015. Value pluralism. Stanford Encyclopedia of Philosophy, June 21: http://plato.stanford.edu/archives/sum2015/entries/value-pluralism/.
93. Mauss, I. B., Savino, N. S., Anderson, C. L., Weisbuch, M., Tamir, M., & Laudenslager, M. L. 2012. The pursuit of happiness can be lonely. Emotion, 12:908-912.
94. Mauss, I. B., Tamir, M., Anderson, C. L., & Savino, N. S. 2011. Can seeking happiness make people unhappy? Paradoxical effects of valuing happiness. Emotion, 11:807-815.
95. McFadden, D. 2006. Free markets and fettered consumers. American Economic Review, 96:3-29.
96. McGregor, I., & Little, B. R. 1998. Personal projects, happiness, and meaning: On doing welland being yourself. Journal of Personality and Social Psychology, 84:494-512.
97. McWilliams, A., & Siegel, D. 2001. Corporate social responsibility: A theory of the firm perspective. Academy of Management Review, 28:117-127.
98. Menon, U. 2013. Women, wellbeing, and the ethics of domesticity in an Odia Hindu temple town. New York: Springer.
99. Michener, J. A. 1978. Chesapeake. New York: Random House.
100. Midgley, J. 1995. Social development: The developmental perspective in social welfare. Thousand Oaks, CA: Sage.
101. Miller, T., & del Carmen Triana, M. 2009. Demographicdiversity in the boardroom: Mediators of the board diversity-firm performance relationship. Journal of Management Studies, 46:755-786.
102. Mitchell, R. K., Agle, B. R., Chrisman, J. G., & Spence, L. A. 2011. Toward a theory of stakeholder salience in family firms. Business Ethics Quarterly, 21:235-255.
103. Mitchell, R. K., Agle, B. R., & Wood, D. J. 1997. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Academy of Management Review, 22:853-886.
104. Mitchell, R. K., Morse, E. A., & Sharma, P. 2003. The transacting cognitions of nonfamily employees in the family business setting. Journal of Business Venturing, 18:533-551.
105. Mitchell, R. K., Van Buren, H. J., III, Greenwood, M., & Freeman, R. E. 2015. Stakeholder inclusion and accounting for stakeholders. Journal of Management Studies, 52:851-877.
106. National Association of Social Workers. 1971. Encyclopedia of social work, vol. II. New York: National Association of Social Workers.
107. Ng, Y. K. 1975. Bentham or Bergson? Finite sensibility, utility functions and social welfare functions. Review of Economic Studies, 42:545-569.
108. Ng, Y. K. 1997. A case for happiness, cardinalism, and interpersonal comparability. Economic Journal, 107:1848-1858.
109. Nozick, R. 1974. Anarchy, state, and utopia. New York: Basic Books.
110. Overeem, P., & Verhoef, J. 2014. Moral dilemmas, theoretical confusion: Value pluralism and its supposed implications for public administration. Administration & Society, 46:986-1009.
111. Pessin, A., & Engel, S. M. 2015. Reading: Nicomachean ethics-Aristotle. The study of philosophy: A text with readings (7th ed.). London: Rowman and Littlefield.
112. Peterson, C., & Seligman, M. 2004. Character strengths and virtues: A handbook and classification. Oxford: Oxford University Press.
113. Pigou, A. C. 1962. Theeconomics of welfare. London: MacMillan & Company.
114. Pless, N. M., Maak, T., & Waldman, D. A. 2012. Different approaches toward doing the right thing: Mapping the responsibility orientations of leaders. Academy of Management Perspectives, 26(4):51-65.
115. Porter, M. E., & Kramer, M. R. 2006. The link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12):78-92.
116. Pratt, M. G., & Foreman, P. O. 2000. Classifying managerial responses to multiple organizational identities. Academy of Management Review, 25:18-42.
117. Reay, T., & Hinings, C. R. 2009. Managing the rivalry of competing institutional logics. Organization Studies, 30:629-652.
118. Scherer, A. G., Baumann-Pauly, D., & Schneider, A. 2013. The new political role of business in a globalized world: A review of a new perspective on CSR and its implications for the firm, governance, and democracy. Journal of Management Studies, 48:899-931.
119. Schmidtz, D. 2007. When justice matters. Ethics, 117:433-459.
120. Schoemaker, P. J. H., & Tetlock, P. E. 2012. Taboo scenarios: How to think about the unthinkable. California Management Review, 54(2):5-24.
121. Schumpeter, J. 1934. The theory of economic development. Boston: Harvard University Press.
122. Schwartz, B. 2011. Practical wisdom in organizations. Research in Organizational Behavior, 31:3-23.
123. Schwartz, B., & Sharpe, K. E. 2005. Practical wisdom: Aristotle meets positive psychology. Journal of Happiness Studies, 7:377-395.
124. Sen, A. 1991. Welfare, preference and freedom. Journal of Econometrics, 50:15-29.
125. Seo, M. G., & Creed, W. E. D. 2002. Institutional contradictions, praxis, and institutional change: A dialectical perspective. Academy of Management Review, 27:222-247.
126. Sharma, P., Chrisman, J. J., & Chua, J. H. 1996. A review and annotated bibliography of family business studies. Boston: Kluwer Academic Publishers.
127. Shweder, R. A. 2012. Relativism and universalism. In D. Fassin (Ed.), Companion to moral anthropology: 85-102. West Sussex, UK: Wiley.
128. Shweder, R. A., Much, N. C, Mahapatra, M., & Park, L. 1997. The "big three" of morality (autonomy, community, divinity) and the "big three" explanations of suffering. In A. Brandt & P. Rozin (Eds.), Morality and health: 119-169. New York: Routledge.
129. Slater, S. F. 1997. Developing a customer value-based theory of the firm. Journal of the Academy of Marketing Science, 25:162-167.
130. Smith, A. 2003. (First published in 1776.) The wealth of nations. (Edited by E. Cannan.) New York: Bantam Dell.
131. Smith, W. K. 2014. Dynamic decision making: A model of senior leaders managing strategic paradoxes. Academy of Management Journal, 57:1592-1623.
132. Smith, W. K., & Lewis, M. W. 2011. Toward a theory of paradox: A dynamic equilibrium model of organizing. Academy of Management Review, 36:381-403.
133. Sonenshein, S. 2006. Crafting social issues at work. Academy of Management Journal, 49:1158-1172.
134. Sonenshein, S. 2007. The role of construction, intuition, and justification in responding to ethical issues at work: The sensemaking-intuition model. Academy of Management Review, 32:1022-1040.
135. Spicer, M. W. 2001. Value pluralism and its implications for American public administration. Administrative Theory & Praxis, 23:507-528.
136. Spicer, M. W. 2014. In defense of value pluralism in public administration. Administration & Society, 46:1010-1019.
137. Stiglitz, J. E. 1991. The invisible hand and modern welfare economics. Paper No. w3641. Cambridge, MA: National Bureau of Economic Research.
138. Stout, L. A. 2012. The shareholder value myth: How putting shareholders first harms investors, corporations, and the public. Oakland, CA: Berrett-Koehler.
139. Suchman, M. C. 1995. Managing legitimacy: Strategic and institutional approaches. Academy of Management Review, 20:571-610.
140. Suddaby, R., & Greenwood, R. 2005. Rhetorical strategies of legitimacy. Administrative Science Quarterly, 50:35-67.
141. Sugden, R., & Weale, A. 1979. A contractual reformulation of certain aspects of welfare economics. Economica, 46:111-123.
142. Sumner, L. W. 1996. Welfare, happiness, and ethics. Oxford: Clarendon Press.
143. Sundaram, A. K., & Inkpen, A. C. 2004. The corporate objective revisited. Organization Science, 15:350-363.
144. Swedloff, R. 2014. The trouble with happiness. Temple University Law Review, 86:763-807.
145. Taylor, B. 2010. Reasonable homunculi can disagree: The impossibility of welfare economics. Available at SSRN: 10.2139/ssrn. 1617809.
146. Tetlock, P. E. 2002. Social functionalist frameworks for judgment and choice: Intuitive politicians, theologians, and prosecutors. Psychological Review, 109:451-471.
147. Tetlock, P. E. 2003. Thinking the unthinkable: Sacred valuesand taboo cognitions. Trends in Cognitive Sciences, 7:320-324.
148. Tetlock, P. E., Kristel, O. V., Elson, B. E., Green, M. C., & Lerner, J. S. 2000. The psychology of the unthinkable: Taboo tradeoffs, forbidden base rates, and heretical counterfactuals. Journal of Personality and Social Psychology, 78:853-870.
149. Tetlock, P. E., Peterson, R. S., & Lerner, J. S. 1996. Revising the value pluralism model: Incorporating social content and context postulates. In C. Seligman, J. M. Olson, & M. P. Zanna (Eds.), Values: Eighth Annual Ontario Symposium on Personality and Social Psychology: 25-51. Hillsdale, NJ: Lawrence Erlbaum Associates.
150. Thin, N. 2012. Social happiness: Theory into policy and practice. Bristol, UK: Policy Press.
151. Tost, L. P. 2011. An integrative model of legitimacy judgments. Academy of Management Review, 36:686-710.
152. Volmar, E., Agle, B., Rasmussen, L., & Lee, J. 2015. The objectives of corporations: Evidence from an empirical examination of Fortune 500 companies. Working paper, Wheatley Institution, Provo, UT.
153. Waddock, S. A., & Graves, S. B. 1997. The corporate social performance-financial performance link. Strategic Management Journal, 18:303-319.
154. Weaver, G. R., Treviño, L. K., & Cochran, P. L. 1999. Integrated and decoupled corporate social performance: Management commitments, external pressures, and corporate ethics practices. Academy of Management Journal, 42:539-552.
155. Weick, K. E. 1979. The social psychology of organizing. New York: McGraw-Hill.
156. Weick, K. E. 1993. The collapse of sense making: The Mann Gulch disaster. Administrative Science Quarterly, 38:628-652.
157. Weick, K. E. 1995. Sensemaking in organizations. Thousand Oaks, CA: Sage.
158. Weick, K. E. 2001. Making sense of the organization. Oxford: Blackwell.
159. Wendel, W. B. 2000. Value pluralism in legal ethics. Washington University Law Review, 78:113-213.
160. Westphal, J. D., & Zajac, E. J. 2013. A behavioral theory of corporate governance: Explicating the mechanisms of socially situated and socially constituted agency. Academy of Management Annals, 7:607-661.
161. Wilensky, H. L., & Lebeaux, C. 1958. Industrial society and social welfare. New York: Free Press.
162. Williams, B. 1985. Ethics and the limits of philosophy. Cambridge, MA: Harvard University Press.
163. Williamson, O. E. 1975. Markets and hierarchies. New York: Free Press.
164. Williamson, O. E. 1985. The economic institutions of capitalism. New York: Free Press.
165. Williamson, O. E. 1991. Strategizing, economizing, and economic organization. Strategic Management Journal, 12(Supplement):S75-S94.
166. Wilson, J. Q. 1993. The moral sense. New York: Free Press.
167. Wood, D. J., & Jones, R. E. 1995. Stakeholder mismatching: A theoretical problem in empirical research on corporate social performance. International Journal of Organizational Analysis, 3:229-267.