Hostname: page-component-586b7cd67f-2plfb Total loading time: 0 Render date: 2024-11-28T08:07:49.729Z Has data issue: false hasContentIssue false
  • English
  • Français

Stakeholder Conceptions of the Corporation: Their Meaning and Influence in Accounting Research

Published online by Cambridge University Press:  23 January 2015

Robin W. Roberts  and
Lois Mahoney
Get access Rights & Permissions [Opens in a new window]

Abstract:

In this paper we develop a categorization scheme for stakeholder research based on differences in studies’ primary level of analysis (managerial agency, organizational, or societal) and use this scheme to review and critique genres of stakeholder-based accounting research. We draw three primary conclusions: 1) stakeholder research in accounting should more clearly incorporate the business ethics stakeholder literature, 2) ethical issues are much less likely to be considered in stakeholder-based accounting research when a managerial agency level of analysis is adopted, and 3) the accounting discipline can learn from debates within the business ethics literature concerning shareholder dominance and stakeholder legitimacy. These conclusions, taken together, demonstrate the need for accounting researchers to become more focused on ethical considerations in the design of accounting information systems, performance measurement criteria, and financial reporting models.

Type
Articles
Information
Business Ethics Quarterly , Volume 14 , Issue 3 , July 2004 , pp. 399 - 431
Copyright
Copyright © Society for Business Ethics 2004

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

American Institute of Certified Public Accountants. 2002. Reporting to Analysts and External Stakeholders. New York.Google Scholar
Barsky, Noah P., Hussein, Mohamed E., and Jablonsky, Stephen F.. 1999. “Shareholder and Stakeholder Value in Corporate Downsizing: The Case of United Technologies Corporation.” Accounting, Auditing & Accountability Journal 12(5): 583–604.CrossRefGoogle Scholar
Beauchamp, Tom L., and Bowie, Norman, eds. 1993. Ethical Theory and Business, 4th ed. Englewood Cliffs, N.J.: Prentice Hall.Google Scholar
Beets, S. Douglas, and Souther, Christopher C.. 1999. “Corporate Environmental Reports: The Need for Standards and an Environmental Assurance Service.” Accounting Horizons 13(2): 129–45.Google Scholar
Bendheim, Catherine L., Waddock, Sandra A., and Graves, Samuel. 1998. “Determining Best Practice in Corporate-Stakeholder Relations Using Data Envelopment Analysis.” Business & Society 37(3): 306–39.CrossRefGoogle Scholar
Beneish, Messod D., and Robert, Chatov. 1993. “Corporate Codes of Conduct: Economic Determinants and Legal Implications for Independent Auditors.” Journal of Accounting and Public Policy 12(1): 3–35.CrossRefGoogle Scholar
Bird, Frederick. 2001. “Good Governance: A Philosophical Discussion of the Responsibilities and Practices of Organizational Governors.” Canadian Journal of Administrative Sciences 18(4): 298–312.Google Scholar
Boatright, John R. 2002. “Contractors as Stakeholders: Reconciling Stakeholder Theory with the Nexus-of-Contracts Firm.” Journal of Banking & Finance 26(9): 1837–52.Google Scholar
Bowen, Robert M., Larry, DuCharme, and Shores, D.. 1995. “Stakeholders’ Implicit Claims and Accounting Method Choice.” Journal of Accounting & Economics 20(3): 255–95.Google Scholar
Bowen, Robert M., Johnson, Marilyn F., Shevlin, Terry, and Shores, D.. 1992. “Determinants of the Timing of Quarterly Earnings Announcements.” Journal of Accounting, Auditing & Finance 7(4): 395–422.Google Scholar
Burgstahler, David, and Ilia, Dichev. 1997. “Earnings Management to Avoid Earnings Decreases and Losses.” Journal of Accounting & Economics 24(1): 99–126.CrossRefGoogle Scholar
Burgstahler, David, James, Jiambalvo, and Eric, Noreen. 1989. “Changes in the Probability of Bankruptcy and Equity Value.” Journal of Accounting & Economics 11: 207–24.Google Scholar
Burritt, Roger L., and Stephen, Welch. 1997. “Accountability for Environmental Performance of the Australian Commonwealth Public Sector.” Accounting, Auditing & Accountability Journal 10(4): 532–61.Google Scholar
Burton, Brian K., and Dunn, Craig P.. 1996. “Feminist Ethics as Moral Grounding for Stakeholder Theory.” Business Ethics Quarterly 6(2): 133–47.CrossRefGoogle Scholar
Byrd, John W., Johnson, Marilyn F., and Porter, Susan L.. 1998. “Discretion in Financial Reporting: The Voluntary Disclosure of Compensation Peer Groups in Proxy Statement Performance Graphs.” Contemporary Accounting Research 15(1): 25–52.Google Scholar
Calton, Jerry M., and Kurland, Nancy B.. 1995. “A Theory of Stakeholder Enabling: Giving Voice to an Emerging Postmodern Praxis of Organizational Discourse,” in Postmodern Management and Organization Theory, ed. Boje, D. M., Gephart, R. P., and Thatchenkery, T. J.. London: Sage, 154–77.Google Scholar
Canadian Institute of Chartered Accountants. (2001). Measuring the Business Value of Stakeholder Relationships—Part I. Toronto: CICA.Google Scholar
Child, James W., and Marcoux, Alexei M.. 1999. “Freeman and Evan: Stakeholder Theory in the Original Position.” Business Ethics Quarterly 9(2): 207–23.Google Scholar
Clarkson, Max. B. E. 1995. “A Stakeholder Framework for Analyzing and Evaluating Social Performance.” Academy of Management Review 20(1): 92–117.CrossRefGoogle Scholar
Cornell, Bradford, Wayne, Landsman, and Alan, Shapiro. 1989. “Cross-Sectional Regularities in the Response of Stock Prices to Bond Rating Changes.” Journal of Accounting, Auditing & Finance 4(4): 460–79.Google Scholar
Cornell, Bradford, and Shapiro, Alan C.. 1987. “Corporate Stakeholders and Corporate Finance.” Financial Management (Spring): 5–14.Google Scholar
Cousins, Jim, Austin, Mitchell, and Prem, Sikka. 1998. “Auditor Liability: The Other Side of the Debate.” Critical Perspectives on Accounting 10(3): 283–312.Google Scholar
Cragg, Wesley. 2002. “Business Ethics and Stakeholder Theory.” Business Ethics Quarterly 12(2): 113–42.Google Scholar
Dillard, Jesse F., and Kristi, Yuthas. 1997. “Ethical Issues in Expert Systems: Lessons from Moral Philosophy.” Research on Accounting Ethics 3: 99–117.Google Scholar
Dillard, Jesse F., and Kristi, Yuthas. 1999. “Configurations for Organization and Accounting Ethics.” Research on Accounting Ethics 5:177–203.Google Scholar
Dillard, Jesse F., and Kristi, Yuthas. 2001. “A Responsibility Ethic for Audit Expert Systems.” Journal of Business Ethics 30(4): 337–59.Google Scholar
Dobson, John. 1999. “Defending the Stockholder Model: A Comment on Hasnas, and on Dunfee’s Mom.” Business Ethics Quarterly 9(2): 337–45.Google Scholar
Donaldson, Thomas. 1999. “Making Stakeholder Theory Whole.” Academy of Management Review 24(2): 237–41.Google Scholar
Epstein, Marc J., and Martin, Freedman. 1994. “Social Disclosure and the Individual Investor.” Accounting, Auditing & Accountability Journal 7(4):94–109.Google Scholar
Freeman, R. Edward. 1984. Strategic Management: A Stakeholder Approach. Boston, Mass.: Pitman.Google Scholar
Freeman, R. Edward. 1998. “Poverty and the Politics of Capitalism.” Business Ethics Quarterly Special Issue (1): 31–5.Google Scholar
Freeman, R. Edward. 1999. “Divergent Stakeholder Theory.” Academy of Management Review 24(2): 233–6.Google Scholar
Freeman, R. Edward. 2000. “Business Ethics at the Millennium.” Business Ethics Quarterly 10(1): 169–80.Google Scholar
Freeman, R. Edward, and Phillips, Robert A.. 2002. “Stakeholder Theory: A Libertarian Defense. Business Ethics Quarterly 12(3): 331–49.CrossRefGoogle Scholar
Friedman, Andrew, and Samantha, Miles. 2002. “Developing Stakeholder Theory.” Journal of Management Studies 39(1): 1–21.Google Scholar
Froud, Julie, Colin, Haslam, and Sukhdev, Johal. 1996. “Stakeholder Economy? From Utility Privatization to New Labour.” Capital and Class 60: 119–34.Google Scholar
Gaa, James C. 1996. “Ethics Research and Research Ethics.” Behavioral Research in Accounting 8 (Supplement): 12–24.Google Scholar
Gamble, George O., Kathy, Hsu, Devaun, Kite, and Radtke, Robin R.. 1995. “Environmental Disclosures in Annual Reports and 10K’s: An Examination.” Accounting Horizons 9(3): 34–54.Google Scholar
Gioia, Dennis. A. 1999. “Practicability, Paradigms, and Problems in Stakeholder Theorizing.” Academy of Management Review 24(2): 228–32.Google Scholar
Goddard, Andrew, and Jackie, Powell. 1994. “Accountability and Accounting: Using Naturalistic Methodology to Enhance Organizational Control—A Case Study.” Accounting, Auditing & Accountability Journal 7(2): 50–69.Google Scholar
Gray, Rob. 1998. “Imagination, a Bowl of Petunias and Social Accounting.” Critical Perspectives on Accounting 9: 205–16.CrossRefGoogle Scholar
Gray, Rob, Colin, Dey, Dave, Owen, Richard, Evans, and Simon, Zadek. 1997. “Struggling with the Praxis of Social Accounting.” Accounting, Auditing & Accountability Journal 10(3): 325–64.Google Scholar
Gray, Rob, Reza, Kouhy, and Simon, Lavers. 1995. “Corporate Social and Environmental Reporting: A Review of the Literature and a Longitudinal Study of UK Disclosures.” Accounting, Auditing & Accountability Journal 8(2): 47–77.Google Scholar
Healy, Paul M., and Wahlen, James M.. 1999. “A Review of the Earnings Management Literature and its Implication for Standard Setting.” Accounting Horizons 13(4): 365–84.Google Scholar
Hill, Charles, and Thomas, Jones. 1992. “Stakeholder-Agency Theory.” Journal of Management Studies 29(2): 131–54.Google Scholar
Ilinitch, Anne Y., Soderstrom, Naomi S., and Thomas, Tom E.. 1998. “Measuring Corporate Environmental Performance.” Journal of Accounting and Public Policy 17: 383–408.Google Scholar
Jensen, Michael C. 2002. “Value Maximization, Stakeholder Theory, and the Corporate Objective Function.” Business Ethics Quarterly 12(2): 235–56.Google Scholar
Jiambalvo, James. 1996. “Discussion of ‘Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC.’” Contemporary Accounting Research 13(1): 37–47.Google Scholar
Jones, Thomas M., and Wicks, Andrew C.. 1999. “Convergent Stakeholder Theory.” Academy of Management Review 24(2): 206–21.Google Scholar
Kaler, John. 2002. “Morality and Strategy in Stakeholder Identification.” Journal of Business Ethics 39: 91–9.Google Scholar
Kay, John. 1997. “The Stakeholder Corporation” in Stakeholder Capitalism, ed. Kelly, G., Kelly, D., and Gamble, A.. Houndsmills, UK.: Macmillan Press Ltd: 125–41.Google Scholar
Kelly, Gavin, Dominic, Kelly, and Andrew, Gamble. 1997a. “Conclusion: Stakeholder Capitalism,” in Stakeholder Capitalism, ed. Kelly, G., Kelly, D., and Gamble, A.. Hound-smills, UK.: Macmillan Press Ltd: 238–56.Google Scholar
Kelly, Gavin, Dominic, Kelly, and Andrew, Gamble, eds. 1997b. Stakeholder Capitalism. Houndsmills, UK: Macmillan Press Ltd.Google Scholar
Lee, T. A. 1998. “A Stakeholder Approach to Auditing.” Critical Perspectives in Accounting 9(2): 217–26.CrossRefGoogle Scholar
Lewis, Linda, and Jeffrey, Unerman. 1999. “Ethical Relativism: A Reason for Differences in Corporate Social Reporting?” Critical Perspectives in Accounting 10: 521–47.Google Scholar
Li, Yue, Richardsony, Gordon D., and Thornton, Daniel B.. 1997. “Corporate Disclosure of Environmental Liability Information: Theory and Evidence.” Contemporary Accounting Research 14(3): 435–74.Google Scholar
Malmi, T. 1997. “Towards Explaining Activity-Based Costing Failure: Accounting and Control in a Decentralized Organization.” Management Accounting Research 8(4): 459–80.CrossRefGoogle Scholar
Marcoux, Alexei M. 2003. “A Fiduciary Argument Against Stakeholder Theory.” Business Ethics Quarterly 13(1): 1–24.Google Scholar
Meek, Gary K., and Gray, Sidney J.. 1998. “The Value Added Statement: An Innovation for U.S. Companies?” Accounting Horizons: 73–81.Google Scholar
Mitchell, Ronald K., Agle, Bradley R., and Wood, Donna J.. 1997. “Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts.” Academy of Management Review 24(4): 853–86.Google Scholar
Munro, R., and Hatherly, D.. 1993. “Accountability and the New Commercial Agenda.” Critical Perspectives on Accounting 4: 369–95.Google Scholar
Ormrod, P., and Cleaver, K. C.. 1993. “Financial Reporting and Corporate Accountability.” Accounting and Business Research 23(91): 431–39.Google Scholar
O’Sullivan, Noel. 1993. “Auditors’ Liability: Its Role in the Corporate Governance Debate.” Accounting and Business Research 23(91): 412–20.Google Scholar
Phillips, Robert. A. 1997. “Stakeholder Theory and a Principle of Fairness.” Business Ethics Quarterly 7(1): 51–66.Google Scholar
Phillips, Robert. A. 2003. “Stakeholder Legitimacy.” Business Ethics Quarterly 13(1): 25–41.Google Scholar
Quinn, Dennis, and Jones, Thomas M.. 1995. “An Agent Morality View of Business Policy.” Academy of Management Review 20: 22–42.CrossRefGoogle Scholar
Reed, Darryl. 1999. “Stakeholder Management Theory: A Critical Theory Perspective.” Business Ethics Quarterly 9(3): 453–83.Google Scholar
Roberts, Robin. W. 1992. “Determinants of Corporate Social Responsibility Disclosure: An Application of Stakeholder Theory.” Accounting, Organizations and Society 17(6): 595–612.Google Scholar
Roberts, Robin. W. 1998. “A Stakeholder Approach to the Corporate Single Audit.” Critical Perspectives on Accounting 9: 227–32.Google Scholar
Rowley, Timothy J. 1997. “Moving Beyond Dyadic Ties: A Network Theory of Stakeholder Influences.” Academy of Management Review 22(4): 887–910.Google Scholar
Rubenstein, Daniel B. 1992. “Bridging the Gap Between Green Accounting and Black Ink.” Accounting, Organization and Society 17(5): 501–8.Google Scholar
Shaoul, Jean. 1997a. “The Power of Accounting: Reflecting on Water Privatization?” Accounting, Auditing & Accountability Journal 10(3): 382–405.Google Scholar
Shaoul, Jean. 1997b. “A Critical Financial Analysis of the Performance of Privatised Industries: The Case of Water Industry in England and Wales.” Critical Perspectives on Accounting 8: 479–505.Google Scholar
Shaoul, Jean. 1998. “Critical Financial Analysis and Accounting for Stakeholders.” Critical Perspectives on Accounting 9: 235–49.Google Scholar
Soffer, Leonard C. 1998. “Discussion of ‘Discretion in Financial Reporting: The Voluntary Disclosure of Compensation Peer Groups in Proxy Statement Performance Graphs.’” Contemporary Accounting Research 15(1): 53–6Google Scholar
Stoney, Christopher, and Diana, Winstanley. 2001. “Stakeholding: Confusion or Utopia? Mapping the Conceptual Terrain.” Journal of Management Studies 38(5): 603–26.Google Scholar
Sutton, Steve G., and Vicky, Arnold. 1998a. “Towards a Framework for a Corporate Single Audit: Meeting Financial Statement Users’ Needs.” Critical Perspectives on Accounting 9: 177–91.Google Scholar
Sutton, Steve G., and Vicky, Arnold. 1998b. “Deconstructing Economic Stakeholder Theories or Is Might Really Right?” Critical Perspectives on Accounting 9: 251–60.Google Scholar
Tilt, Carol. A. 1994. “The Influence of External Pressure Groups on Corporate Social Disclosure: Some Empirical Evidence.” Accounting, Auditing & Accountability Journal 7(4): 47–73.Google Scholar
Tower, G. D., Perera, M. H. B., and Rahman, A. R.. 1992. “Accounting Regulatory Design: A New Zealand Perspective.” Advances in International Accounting 5: 115–42.Google Scholar
Tower, Greg. 1993. “A Public Accountability Model of Accounting Regulation.” British Accounting Review 25: 61–85.Google Scholar
Trevino, Linda. K., and Weaver, Gary R.. 1999. “The Stakeholder Research Tradition: Converging Theorists—Not Convergent Theory.” Academy of Management Review 24(2): 222–27.Google Scholar
Ullmann, Arieh E. 1985. “Data in Search of a Theory: A Critical Examination of the Relationships Among Social Performance, Social Disclosure and Economic Performance of U.S. Firms.” Academy of Management Review 10(3): 540–57.Google Scholar
Uzumeri, Mustafa V., and Tabor, Richard H.. 1997. “Emerging Management Metastandards: Opportunities for Expanded Attest Services.” Accounting Horizons 11(1): 54–66.Google Scholar
Watts, Ross, and Jerold, Zimmerman. 1986. Positive Accounting Theory. Englewood Cliffs, N.J.: Prentice-Hall.Google Scholar
Wicks, Andrew C., Gilbert, Daniel R. Jr., and Freeman, R. Edward. 1994. “A Feminist Re-interpretation of the Stakeholder Concept.” Business Ethics Quarterly 4(4): 475–97.Google Scholar
Yuthas, Kristi. 1998. “Organizational Moral Development: Lessons from Moral Reasoning Framework.” Research on Accounting Ethics 4: 53–72.Google Scholar
Zajac, Edward E. 1995. Political Economy of Fairness. Cambridge, Mass.: The MIT Press.Google Scholar