企业社会责任与财务绩效(CSR and Firms Financial Performance) [6]
论文作者:英语论文论文属性:本科毕业论文 Thesis登出时间:2015-07-08编辑:Karlie点击率:20919
论文字数:6572论文编号:org201507071612154839语种:英语 English地区:澳大利亚价格:免费论文
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摘要:本论文主要阐述了企业社会责任与财务绩效,先用书中的释义解释了企业社会责任的意义与重要性,接着论述了企业的财务绩效,最后讨论了两者的关系与互相作用
keholders.
Stakeholder Theory
This theory is based on the assumption that the firm has an obligation to take into consideration a group in society other than its stockholders who are beyond any kind of legal or union contracts (Jones, 1980, p. 59-60).
This theory is regarding stakeholders who have a stake or any kind of claim in the company. This includes both kinds of stakeholders, those who are internal and those who are external to the company such as stockholders, employee, suppliers, customers, community and government of the nation in which the organisation is active. This theory was first proposed as managerial theory. Freeman (1984) gave a new thought regarding strategic management. He argued that a management executive can bring changes in the corporation and advance it towards attaining success. Freeman also argued that the management has moral obligation to protect the organisation and its stakeholders' interest. The role of the top management is to establish balance between the conflicting stakeholders (Freeman, 1997, p. 151).
The term 'stakeholders' can be taken both in the narrow sense where it includes only those groups that are considered vital for the existence and success of the firm whereas in the broad sense stakeholders indicate all those groups that get affected by the firm's existence (Freeman and Reed, 1983). This theory proposed that the management should create value for the stakeholders through conversion of their stake into either goods or into services and should develop coordination among all stakeholders (Clarkson, 1995, p. 105-108).
The theory also states that decision making structure of the corporation should be governed by the top management but government should intervene for safe guarding stakeholders' interest in the best possible manner. As discussed by Evan and Freeman (1988), the stakeholder theory comprises of two ethical principles which are 'Principle of Corporate Effects' and 'Principle of Corporate Right' (Beauchamp, & Bowie, p. 75-93). Both of these principles where based on Kant's concept that talks about respect for persons. It emphasied on the fact that a firm should not violate other's right for the sake of their own future. Evans and Freeman in the year 1988 introduced two more principles. These principles were P1 and P2. The first principle says that an organisation has the obligation or duty for the benefit of the stakeholders and they should participate in decision making activities of the company.
The second principle represented the management as an agent of the stakeholders to represent their ownership. It is also essential for the management to act as the organisation's representative and also safeguard the stakeholders' interest. As this theory is based on Kantian principles, so it is directly related to 'Property right'. These property rights indicate distributive justice (Donaldson and Preston, 1995, p. 65-91).
The stakeholder theory takes into consideration both the legal requirement and stakeholders' interest and not just what is required by the law of the nation. This expands the management's duty to the stakeholders, instead of restricting it to just the stockholders (Carson, 1993, p. 174).
The followers of this theory considered the organisation as an abstract entity which comprises of different groups who have interest in the firm. A major problem related
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