We argue that corporate social performance (CSP) has become a legitimizing identity (brand) for researchers in the business and society field, but it has not developed into a viable theoretical or operational construct. Because measuring CSP is contingent on the operational setting (industry, issues, etc.), it is difficult to produce worthwhile comparisons across studies or generalizing beyond the boundaries of a specific study. The authors suggest that researchers remove the CSP label from their operational variables, and instead narrowly define their (...) studies in operational terms. They provide aworking example of the proposed research direction by examining the theory underlying the popular CSP–financial performance (FP) debate. In the authors’ conceptualization, stakeholder action provides the underlying logic connecting CSP-FP, and we recast the research question to investigate the conditions under which stakeholders will take action to influence the focal organization and when those actions will influence the CSP-FP link. (shrink)

This panel considered the uses of and prospects for the stakeholder theory/approach. After 20 years of popularity, the stakeholder concept has still notemerged as a true theory. However, it offers some unique perspectives on business organizations and there is plenty of room to develop stakeholder theory and research. These session notes are offered to further the scholarly discussion.

In this paper, I outline some of the issues that need to be addressed to conduct empirical social network analysis. The impetus for this discussion lies in the obvious connection between the stakeholder metaphor and social network analysis.

This paper attempts to encourage the utilization of social network analysis in the business and society field. Social network analysis is shown to be useful for dealing empirically with interdependence between subjects, linking variables at different levels of analysis and examining multiple stakeholder influences simultaneously.

Recently, stakeholder theory has reached a stage of development where it challenges other theories of the firm. This paper discusses existing theories of the firm and suggests a course of action for stakeholder researchers, who want to build a credible and valuable position among other models. The purpose of this analysis is to illustrate some of the shortcomings of existing theories so that future stakeholder theory development can be aimed at better understanding these issues.

Currently, Canadian and American corporation law statutes reflect values and promote decision-making which are inconsistent with the those proposed by business and society scholars as being necessary for producing socially responsible behavior by corporate boards of directors. For those directors and officers who engage in proactive consideration of stakeholder interests (other than that of shareholders), there exists the very real legal risk that such individuals could potentially face a costly shareholder lawsuit for breach of fiduciary duty if such stakeholder consideration (...) was perceived by shareholders as being inimical to their interests. Although board members are becoming more aware of their firms' stakeholders, cautious corporate legal counsel could advise today's risk-averse directors to consider a smaller scope of stakeholders (and perhaps exclusively shareholders) than stakeholder researchers suggest, and thus comport themselves more with the fiduciary duty owed to shareholders under the common law. (shrink)

This panel considered the uses of and prospects for the stakeholder theory/approach. After 20 years of popularity, the stakeholder concept has still notemerged as a true theory. However, it offers some unique perspectives on business organizations and there is plenty of room to develop stakeholder theory and research. These session notes are offered to further the scholarly discussion.

Social capital and social networks explain the benefits and structure of patterns of social interaction among a number of actors. Integrating these concepts can explain how a business organization can provide the basis for reciprocal exchange among a number of actors, as well as the basis for civic engagement In the community as a whole. A business organization can generate these effects when it becomes the focal actor in a particular pattern of social interaction. We call this pattem for reciprocal (...) exchange and civic engagement that arises around a focal actor - a social capital network. This analysis is applied to identify and explain how a network of reciprocity and civic engagement arose in Brooklyn during the 1930s-1950s around the Brooklyn Dodgers baseball team and its ballpark, Ebbets Field. (shrink)

In this paper, social network analysis concepts are employed to examine intemational govemment-firm relationships and govemment intervention strategies. The analysis explores the impact of structural factors, which characterize intematlonal exchange networks, on firm and state behaviors. Propositions are offered, which make predictions about govemment intervention strategies.

This paper illustrates that managerial discretion is both an organizational and individual level concept. It is suggested that, at the organizational level, managerial discretion can be gained through an organization's power and trust relationships. Further, it is argued that trust-based relationships can lead to more stable stakeholder environments and more efficient exchanges.