IDEAS home Printed from https://ideas.repec.org/a/bbz/fcpbbr/v5y2008i3p275-293.html
   My bibliography  Save this article

Instrumental Stakeholder Theory in Turbulent Environments: An Empirical Testing using Political and Social Donations

Author

Listed:
  • Rosilene Marcon

    (University of Vale do Itajaí – UNIVALI)

  • Rodrigo Bandeira de Mello

    (University of Vale do Itajaí – UNIVALI)

  • Anete Alberton

    (University of Vale do Itajaí – UNIVALI)

Abstract

In this paper we empirically tested the instrumental stakeholder theory using firm donation to government and to community as proxy for stakeholder relationship intensity. Two models were applied to a sample of 339 publicly traded firms in Brazil using different performance indicators. In the first model, a multiple regression model estimated the effects of establishing political and social stakeholder relations on firm performance, by comparing donating firms to a control group of non-donating firms. The second model used structural equation modeling to test the mediating effects of stakeholder relationship intensity between firm and industry-level stakeholder orientations and performance on donating firms. In both tested models, our results indicate that instrumental theory hypothesis did not hold for our data. However, findings suggest that the market perceives stakeholder management as a firm cost, and that stakeholder relationship intensity can be explained by a one-dimension construct, measured by firm level indicators that describe the organizational context.

Suggested Citation

  • Rosilene Marcon & Rodrigo Bandeira de Mello & Anete Alberton, 2008. "Instrumental Stakeholder Theory in Turbulent Environments: An Empirical Testing using Political and Social Donations," Brazilian Business Review, Fucape Business School, vol. 5(3), pages 275-293, September.
    • Handle: RePEc:bbz:fcpbbr:v:5:y:2008:i:3:p:275-293
    as

    Download full text from publisher

    File URL: http://bbronline.com.br/index.php/bbr/article/download/439/664
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. ANITA M. McGAHAN & MICHAEL E. PORTER, 1997. "How Much Does Industry Matter, Really?," Strategic Management Journal, Wiley Blackwell, vol. 18(S1), pages 15-30, July.
    2. Roberts, Robin W., 1992. "Determinants of corporate social responsibility disclosure: An application of stakeholder theory," Accounting, Organizations and Society, Elsevier, vol. 17(6), pages 595-612, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. K. O’Shaughnessy & Eric Gedajlovic & Patrick Reinmoeller, 2007. "The influence of firm, industry and network on the corporate social performance of Japanese firms," Asia Pacific Journal of Management, Springer, vol. 24(3), pages 283-303, September.
    2. Simona Galletta & Sebastiano Mazzù & Valeria Naciti & Carlo Vermiglio, 2021. "Sustainable development and financial institutions: Do banks' environmental policies influence customer deposits?," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 643-656, January.
    3. Erli Dan & Jianfei Shen, 2022. "Establishment of Corporate Energy Management Systems and Voluntary Carbon Information Disclosure in Chinese Listed Companies: The Moderating Role of Corporate Leaders’ Low-Carbon Awareness," Sustainability, MDPI, vol. 14(5), pages 1-28, February.
    4. Kalpana Tokas & Kartik Yadav, 2023. "Foreign Ownership and Corporate Social Responsibility: The Case of an Emerging Market," Global Business Review, International Management Institute, vol. 24(6), pages 1302-1325, December.
    5. Dirk Crass & Franz Schwiebacher, 2017. "The importance of trademark protection for product differentiation and innovation," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 44(2), pages 199-220, June.
    6. Eric Cauvin & Pierre-Laurent Bescos, 2005. "Nature Et Caracteristiques Des Informations Utilisees Par Les Entreprises Françaises Dans Le Cadre De Leur Communication Financiere : Une Etude Empirique," Post-Print halshs-00581142, HAL.
    7. Yi-Min Chen, 2008. "How Much Does Country Matter?," International Regional Science Review, , vol. 31(4), pages 404-435, October.
    8. Souhir Khemir, 2010. "Analyse Des Déterminants De La Divulgation Sociétale Dans Les Rapports Annuels Des Entreprises Tunisiennes Cotées," Post-Print hal-00479515, HAL.
    9. Stephen Brammer & Stephen Pavelin, 2006. "Voluntary Environmental Disclosures by Large UK Companies," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(7‐8), pages 1168-1188, September.
    10. Pascual Berrone & Jordi Surroca & Josep Tribó, 2007. "Corporate Ethical Identity as a Determinant of Firm Performance: A Test of the Mediating Role of Stakeholder Satisfaction," Journal of Business Ethics, Springer, vol. 76(1), pages 35-53, November.
    11. Francesca Bernini & Fabio La Rosa, 2024. "Research in the greenwashing field: concepts, theories, and potential impacts on economic and social value," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(2), pages 405-444, June.
    12. Ariana Chang & Tian‐Shyug Lee & Hsiu‐Mei Lee, 2024. "Applying sustainable development goals in financial forecasting using machine learning techniques," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 2277-2289, May.
    13. Champagne, Claudia & Coggins, Frank & Sodjahin, Amos, 2022. "Can extra-financial ratings serve as an indicator of ESG risk?," Global Finance Journal, Elsevier, vol. 54(C).
    14. Sujit Sur & Carol-Ann Sirsly, 2013. "What’s in a name? Decomposing corporate reputation to assess the relative impact of temporal, firm and industry level factors," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(4), pages 1047-1072, November.
    15. Marco Pini, 2019. "Corporate social responsibility, family firms and territorial institutions in Italy: an empirical analysis," RIEDS - Rivista Italiana di Economia, Demografia e Statistica - The Italian Journal of Economic, Demographic and Statistical Studies, SIEDS Societa' Italiana di Economia Demografia e Statistica, vol. 73(2), pages 99-110, April-Jun.
    16. Herbohn, Kathleen, 2005. "A full cost environmental accounting experiment," Accounting, Organizations and Society, Elsevier, vol. 30(6), pages 519-536, August.
    17. Halkos, George & Skouloudis, Antonis, 2015. "Exploring corporate disclosure on climate change: Evidence from the Greek business sector," MPRA Paper 64566, University Library of Munich, Germany.
    18. Ramona Zharfpeykan, 2021. "Representative account or greenwashing? Voluntary sustainability reports in Australia's mining/metals and financial services industries," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 2209-2223, May.
    19. Kentaro Azuma & Akira Higashida, 2024. "Climate change disclosure and evolving institutional investor salience: Roles of the Principles for Responsible Investment," Business Strategy and the Environment, Wiley Blackwell, vol. 33(4), pages 3669-3686, May.
    20. Miguel A. Ariño & Africa Ariño & Roberto Garcia-Castro, 2008. "A model to evaluate transient industry effects," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(8), pages 629-637.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bbz:fcpbbr:v:5:y:2008:i:3:p:275-293. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Lasso (email available below). General contact details of provider: https://edirc.repec.org/data/fucapbr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.