Stakeholder Theory Perspective Research Articles

Accountability of Shadow Puppet Performances as Evidence of Surakarta's Local Wisdom: Perspective of Stakeholder Satisfaction

This study explores how the accountability of shadow puppets in performances using the perspective of stakeholder theory is related to accountability, so that it can be in accordance with the principle of accountability, where in every organization and stakeholders get satisfaction as in stakeholder theory. Wayang performance as a noble value in the culture of local wisdom in Surakarta in particular, is expected to run sustainably and sustainably, namely by paying attention to the stakeholders in it, namely sinden, pins, niyaga, pangrawit and sound system workers, whether it has run well according to rights and obligations. The respondents selected include: sinden, pins, niyaga, pangrawit and sound system workers. The results of this research are formed from satisfaction outside finance, among others: developing a noble culture, harmonious guyub and nerimo ing pandum to become a strong foundation for art actors to maintain the wayang tradition in the midst of the onslaught of the era of globalization and modernization. Art actors, who in this case are stakeholders of puppet performances, uphold mutual cooperation, help each other and leave the results to the creator. The distribution of work responsibilities in wayang does not only depend on the puppeteer but can be transferred to pins and sinden, but for the distribution of honorarium the puppeteer plays a role and is fully responsible for his internal stakeholders such as pins, niyaga and sinden. The principle of loyalty is reflected in internal stakeholders in shadow puppets. Commitment, right promise is reflected in the sincerity of an artist in living the shadow puppet culture, this is what makes wayang performances have a high existence and are able to survive, sustainable in an era that is all digitalization.

Contract farming in transitional economies: A stakeholder theory perspective

Abstract In transitional economies, contract farming is widely recognized as a means for addressing numerous market failures affecting small farmers. Reviewing the scholarship on contract farming, we show that its traditional understandings have been framed by the narratives of transaction cost economics and power dynamics. We critically evaluate these narratives and demonstrate how stakeholder theory, with its relational understanding of business, offers a more comprehensive understanding of contract farming. We argue that a stakeholder theory perspective underscores the trust-based and collaborative nature of successful contract farming arrangements. It highlights the importance of informal and moral stakeholder relationships that compensate for the limitations of weak enforcement mechanisms and inadequate legal frameworks in transitional economies. This way, a stakeholder theory perspective on contract farming highlights its strategic management and business ethics dimensions, offering valuable guidance for cultivating successful stakeholder relationships.

Exploring the Evolution Mechanisms of Social Risks Associated with Urban Renewal from the Perspective of Stakeholders

The urban renewal (UR) process involves various stakeholders and related activities, and the various risks arising from this endeavor can affect these stakeholders. Additionally, the impact of adverse factors such as policy discontinuity and inequitable distribution of benefits among stakeholders can easily result in collective tensions or conflicts, as well as the gradual emergence of potential social frictions and confrontations. These social risks (SRs) not only impede the smooth execution of urban renewal projects but also pose challenges to social harmony and stability. Hence, to mitigate and control the SRs in the UR process (URSRs) and ensure the successful implementation of effective and sustainable UR projects, it is of paramount importance to gain a comprehensive understanding of the occurrence and evolution mechanisms of these SRs. Although existing studies have touched upon the influence of stakeholder conflicts on URSRs, there remains a lack of systematic examination of the evolution mechanisms of these risks from the perspective of stakeholder theory. The resulting fragmented and specialized comprehension of URSRs has hindered the effectiveness of risk governance strategies. This study adopts stakeholder theory to analyze the potential sources of risk throughout the entire UR process. By considering the conflicts of interests among stakeholders, a systematic analysis of the evolution mechanisms of URSRs is explored and targeted governance recommendations for URSRs are proposed.

Corporatization of Public Libraries in Taiwan: Stakeholder Theory Perspective

ABSTRACT This study explores the transition of public libraries to administrative corporations through the lens of stakeholder theory. It positions public libraries as pivotal institutions harboring extensive collections vital for fostering educational and cultural growth. Focusing on the Kaohsiung Public Library in Taiwan as a case study, this research highlights successful tactics adopted during its shift toward administrative corporatization. Such a transformation aligns with the strategic objectives of governments, stakeholders, and communities at large. By applying stakeholder theory, the study investigates the broader societal contributions of administratively corporatized public libraries, their role in advancing public library services amidst organizational changes, and their capacity to augment the distinctiveness of urban landscapes.

RESEARCH ON THE IMPACT OF DIGITAL TRANSFORMATION ON ENTERPRISE ESG PERFORMANCE

This paper analyzes the impact of digital transformation on corporate ESG (environmental, social, and governance) performance based on the dynamic capability theory of enterprises and the stakeholder theory perspective and conducts empirical tests based on the data of Chinese A-share listed companies in Shanghai and Shenzhen from 2009 to 2022. Before, researchers mostly looked at overall ESG performance. This paper, on the other hand, starts by looking at overall ESG performance and then goes on to look at each of the three ESG dimensions (E, S, and G). It then does a subdimensional refinement to see how digital transformation affects the different dimensions of ESG performance and then checks how the company's ability to innovate in green technology affects the subdimension of ESG performance. This paper puts digital transformation and ESG performance in the same analytical framework, and from the perspective of digital transformation, it puts forward targeted insights and suggestions to improve the ESG performance of Chinese enterprises, providing theoretical support and empirical evidence to promote the practice of ESG development in Chinese enterprises.

Does environmental, social, and governance practice boost corporate human capital inflow in China? From the perspective of stakeholder response

AbstractFew studies have answered how different stakeholders' responses to environmental, social, and governance (ESG) practice, including creditors, investors, and media, influence the relationship between ESG practice and high‐quality job‐seekers, which is reflected in corporate human capital inflow. Therefore, we analyze the nexus above theoretically from the perspective of stakeholder theory and examine empirically whether corporate ESG practice can promote corporate human capital inflow, drawing on 8924 firm‐year observations of Chinese‐listed companies during 2011–2020. The findings demonstrate that ESG practice stimulates corporate human capital inflow, which is enhanced when economic policy uncertainty, debt costs, equity costs, or the proportion of female directors is high, whereas weakened when the negative media coverage is high. Further research finds that an underlying mechanism, via corporate visibility, ESG practice can prompt corporate human capital inflow and that the elevating role is more significant in non‐state‐owned or non‐manufacturing enterprises than in state‐owned or manufacturing. Overall, our findings provide a new standpoint to comprehend the interaction of different stakeholder's responses to ESG practice, which enables scholars and managers to understand ESG practice and its effects better.

Investigating supply chain participants’ circular economy action effects on firm financial performance from a stakeholder theory perspective

The circular economy (CE) model has recently emerged and been practiced by many firms due to pressure for desirability of sustainability. It is important for researchers and practitioners to understand the effects of firms' CE actions on their own and their supply chain partners' financial performance to better implement CE practices. However, existing literature has not analyzed the impact of firms' CE actions from a holistic supply chain framework to find how a firm's CE actions affect its supply chain partners' financial performance. In this study, we investigate this issue from the stakeholder theory perspective with empirical evidence from the China Stock Market and Accounting Research database and the Chinese Research Data Services Platform database for 2006–2021 to perform regressions. Our findings suggest a firm's CE actions have both a positive direct effect to improve its own financial performance and a spillover effect to enhance its partners' (i.e., suppliers' and customers') financial performance. Additionally, a higher supply chain concentration level strengthens the CE direct effect. Further, we find a positive moderating influence of industry competition on stimulating the CE direct effect and its positive moderating effect on the spillover effect of downstream customers' CE efforts on the financial performance of the focal firms. Our findings urge firms to implement and encourage their partners to make CE efforts to enhance their financial performance. Firms should also strengthen centralized purchasing and supply with downstream partners to utilize the amplified CE efforts' effect, particularly when they face fierce competition.

Environmental, social, and governance performance and corporate innovation novelty

Environmental, social, and governance (ESG) performance, along with the novelty of innovation, are significant factors in promoting sustainable development for corporations. This study employs the Heckman two-stage model to examine the impact of ESG performance on innovation novelty using a dataset comprising A-share listed companies in the Shanghai and Shenzhen Stock Exchanges from 2011 to 2020. The results indicate that enhanced ESG performance significantly fosters innovation by expanding innovation resources and mitigating agency problems. Further analysis reveals that this relationship is more pronounced under high economic policy uncertainty, a challenging information environment, elevated financing constraints, and in the context of digital transformation. This study not only expands the research on the economic implications of ESG performance for enterprise innovation behavior but also places a distinct emphasis on innovation quality rather than quantity. Additionally, this study enriches the existing literature on the factors influencing innovation novelty and extends research into the link between environmental protection and firm innovation, particularly from the perspective of stakeholder theory. Furthermore, this study holds practical significance for governments aiming to enhance ESG evaluation systems and establish guiding policies that encourage novel innovations, ultimately contributing to sustainable and high-quality development. Simultaneously, this study provides guidance to enterprises by encouraging them to embrace green development, improve social responsibility, and elevate their governance standards to promote innovation quality.

Re-viewing entrepreneurial universities through alumni engagement

AbstractThe paper contributes to re-viewing entrepreneurial universities by expanding the understanding of the role and impact of alumni engagement in this context. Embedded in a stakeholder theory perspective, we develop and test a framework that identifies social, behavioural, cognitive and affective drivers of alumni engagement. We conducted statistical analyses to test hypotheses on a sample of 493 entrepreneurship graduates from Venture Creation Programs (VCP) at three major universities in Scandinavia. Our theorising and findings suggest that alumni engagement is multifaceted—encompassing providing and connecting functions. Furthermore, the analysis suggests social, behavioural and affective drivers to accelerate alumni engagement. Future studies of entrepreneurial universities should focus more specifically on how entrepreneurship education and university managers may prepare students for becoming engaged alumni.

Consumer engagement through corporate social responsibility communication on social media: Evidence from Facebook and Instagram Bank Accounts

This paper investigates the impact of corporate social responsibility (CSR) communication through social media on consumer engagement, focusing on the top 15 European banks' social media accounts. Drawing on stakeholder theory and customer engagement perspective, this study analyzes banks' content posted on Facebook and Instagram from January 2021 to December 2022. The research employs multiple regression analysis to assess the relationship between CSR dimensions and consumer engagement. Results reveal that two CSR dimensions (employee support and diversity) positively arouse more engagement than non-CSR-related content. Oppositely, other CSR dimensions (environment, community support, product) provide negative or non-statistically significant results compared to non-CSR-related content. This empirical study, utilizing official data from Facebook and Instagram, contributes valuable insights into consumer engagement with CSR-related posts in the banking sector, addressing both scholarly and practical needs for understanding consumer social media engagement dynamics.

Environmental policy vs. Environmental innovation: An examination of policies disclosure on sustainable development from stakeholder theory perspective

AbstractStudying environmental policy (EnP) and environmental innovation (EnI) is a crucial domain for addressing global challenges such as climate change, resource depletion, and pollution. It equips the corporates with the knowledge and tools to develop effective strategies, regulations, and technological advancements that can mitigate environmental impact and promote sustainable practices for the benefit of current and future generations. This study attempts to uncover the influence of both EnP and EnI toward sustainable development (SD) within three dimensions, that is, social aspect, economic aspect, and environmental aspect from Chinese multinational enterprises (MNEs). A total of 723 documents were considered for data analysis using the SEM method and SmartPLS tool. The outcomes of the study are found interesting and fruitful where firstly a positive connection between EnP and SD was affirmed within Chinese MNEs. Second, the study found a positive nexus between EnI and SD, respectively. The findings highlight the insights by demonstrating EnP and EnI can help attain ultimate output and can strengthen SD of the Chinese MNEs. Additionally, this study offers several thought‐provoking and useful managerial recommendations as well as implications for both theoretical and managerial issues. Moreover, some possible opportunities are reported for future researchers by assuming the current flaws to carry out more research both within the Chinese market and rest of the regions, worldwide.

Determinants of Occupational Health and Safety Disclosure: An Empirical Study of Property, Real Estate, and Building Construction Companies on IDX

Occupational Health and Safety Disclosure (OHSD) is essential to provide the public and stakeholders with more information about a company. In particular, OHSD still needs further research because the work accidents in Indonesia are currently excessive, but not all companies disclose it. OHSD is also crucial for corporate sustainability. The primary objective of this study is to conduct an empirical study of the impact of Profitability, Leverage, and The Size of the Board of Commissioners on OHSD. The research method used in this study is quantitative and secondary data obtained from the annual reports and sustainability reports of the property, real estate, and building construction companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2021. The sampling technique used is purposive sampling, with 81 samples. Data analysis used panel data regression with a Random Effect Model (REM). The study concluded that Profitability and Leverage (DER) significantly and positively affect OHSD. However, the size of the Board of Commissioners has a negative and significant effect on OHSD. The research results imply the Occupational Health and Safety Disclosure as material for preparing company policies. For academics, this research is expected to expand the financial accounting literature on OHSD from the stakeholder theory perspective.

How Do Foreign SMEs Mitigate Violent Conflict Risk by Doing Good? An Instrumental Stakeholder Theory Perspective

How Do Foreign SMEs Mitigate Violent Conflict Risk by Doing Good? An Instrumental Stakeholder Theory Perspective

The e-government adoption ecosystem from the perspective of stakeholder theory: A case study on the village information systems in Indonesia

The village information system (VIS) is a form of e-government that villages in Indonesia have adopted. However, many village administrations still have difficulty implementing it. Gunungkidul Regency, Indonesia, is a regency where all villages have successfully adopted VIS in a sustainable manner. This study aims to portray the ecosystem that the adoption or implementation of VIS in the regency has formed. The researchers carried out data collection using observation techniques, document studies, and interviews with entities involved in the management and utilization of VIS in the regency. We used a historical approach and a stakeholder-theory lens to capture the roles and interests of each entity that comprises the ecosystem. Our findings reveal the role and interest in VIS of regional heads, several local government (or supra-village) organizations, vendors or non-governmental organizations (NGOs), village-owned enterprises (BUMDes), civil society organizations (CSO), and villagers in an ecosystem portrait. They are entities that contribute to the management and utilization of VIS. These results can provide an overview of how VIS must be managed collaboratively by involving various stakeholders. Collaborative governance is still rarely found in e-government applications in general, such as e-service, e-procurement, or e-participation, which only tend to provide general e-government roles such as automation and increasing information flow. The results of this study also offer lessons learned for other village administrations in sustainably implementing the VIS.

Are humanitarian supply chains sustainable? A systematic review and future research themes

PurposeTo address the challenges encountered in disaster responses, optimize resource utilization, minimize environmental and social impact, and ensure transparency and accountability, it is essential to review humanitarian supply chains and incorporate sustainability considerations. Humanitarian organizations can enhance their ability to deliver timely and effective assistance to those in need by continuously improving supply chain practices. Consequently, this work explores the convergence of two fast-growing domains: sustainability and humanitarian supply chain management (HSCM).Design/methodology/approachThe authors conducted a systematic literature review of peer-reviewed articles to identify the prominent research trends and themes from the two domains' interactions. The extant literature is represented under the theory, context, characteristics, and research method (TCCM) framework. The authors have utilized a stakeholder theory perspective to identify coordination and collaboration among the various stakeholders.FindingsThis study's review findings reveal five future research directions formulating this study's central themes: the role of environmental sustainability, coordination, and collaboration in building effective HSCs; the role of humanitarian aid for the responsive HSC; the influence of big data predictive analytics on the HSC performance; development and empirical validation of sustainable HSC performance framework; the role of HSC stakeholders in building effective and efficient HSCs.Originality/valueThere is no existing academic literature review available on sustainable HSCM. This review fills this void by fostering discussion about sustainable humanitarian supply chains where the authors notably propose the TCCM framework in the context of sustainable HSCM, followed by a stakeholder network.

Stakeholder collaboration for solid waste management in a small tourism island.

Although stakeholder collaboration is key for sustainable development of tourism in small islands, research on its determinants is only emerging. The lack of empirical studies hampers an understanding of how effective stakeholder partnerships for sustainability in small tourism islands can be formed and sustained. To partially address this knowledge gap, this study explores stakeholder collaboration for solid waste management in the island of Koh Phayam, Thailand, from the perspective of stakeholder theory, social capital and proximity effect. Semi-structured interviews (n = 26) reveal a lack of understanding of collaboration benefits alongside leadership and reciprocity among stakeholders. However, due to geographical proximity, the level of stakeholder trust in each other is significant, thus indicating potential for future successful partnerships. For these partnerships to become effective, a system of financial incentives for stakeholders to separate and recycle solid waste in situ should be designed. To improve stakeholder communication and reciprocity, capacity building workshops and round tables can be organised. Municipal authorities should lead on solid waste management, and a steering committee comprising the representatives of all other stakeholders needs to be established to oversee the work of municipal authorities. Lastly, the feasibility of setting private public partnerships for solid waste management in Koh Phayam should be considered given the significant extent of knowledge and trust among local stakeholders. External stakeholders, such as farmers, can be involved in management of organic waste, thus extending the scope of partnerships for sustainability beyond the island.

The impact of corporate social responsibility types on happiness management: a stakeholder theory perspective

PurposeThe main purposes of this research are: first of all, to re-classify the types of corporate social responsibility (CSR) into primary stakeholder-oriented CSR and secondary stakeholder-oriented CSR from the perspective of stakeholders and, second, to investigate empirically how and which types of CSR can better impact employees' job satisfaction and happiness management.Design/methodology/approachAn online self-administered questionnaire was adopted to test the conceptual model. Questionnaires were sent to Chinese employees and restrict the data to those whose companies had experience implementing CSR. The study employed the partial least squares structural equation modeling (PLS-SEM) technique for data analysis using SmartPLS 4.0 software.FindingsFor factors of happiness management, both primary stakeholder-oriented CSR and secondary stakeholder-oriented CSR had significant and positive effects on happiness management. In addition, both primary and secondary stakeholder-oriented CSR positively and significantly affected job satisfaction, with primary stakeholder-oriented CSR way larger than secondary stakeholder-oriented CSR. Job satisfaction, in turn, was positively and significantly associated with happiness management. The results showed that the control variables of gender and education background had significant effects on happiness management.Practical implicationsFirst, the results provide useful empirical evidence in support of the feasibility that firms could develop competitive and sustainable development strategies by paying more attention to CSR practices. In terms of the primary stakeholder-oriented CSR, managers are recommended to put employees' benefits as a priority and invest in the to offer a healthy and safe working environment or employee support programs. In terms of the secondary stakeholder-oriented CSR, managers are suggested to denote parts of earnings to charity and to people in need. Second, in order to create job satisfaction, firms should put a stronger emphasis on CSR practices. When considering job satisfaction, managers should treat their employees in a socially responsible way and fulfill their demands and rights and place this at the core of their CSR activities.Originality/valueFirst, this study makes a contribution to the existing literature by classifying the four important CSR practices into two types from the perspective of stakeholder theory. By incorporating a series of CSR practices and the stakeholder theory, this study provides a comprehensive and reasonable CSR classification, which has not been considered by prior research. Second, this study adds to the literature by defining the construct of happiness management explicitly along with identifying the dimensions of happiness management. Third, to the best of the authors' knowledge, this is one of the first studies exploring the relationship between CSR and happiness management. Finally, this study is among the first to investigate the correlation between job satisfaction and happiness management.

The Role of Stakeholders in the Adoption of Public–Private Partnerships (PPPs) in Municipal Water Infrastructure Projects: A Stakeholder Theory Perspective

South Africa receives insufficient rainfall to meet citizens’ water needs and this is compounded by deficiencies in infrastructure for water services because of inadequate investment and a lack of maintenance. Municipal public–private partnerships (PPPs) for water infrastructure are rarely utilised for several reasons. Central to this paper is the evaluation of the role played by various stakeholders in influencing the adoption and subsequent approval of municipal water PPP projects. This study critically examined the role of each stakeholder and how other stakeholders perceive their effectiveness during the approval process of water PPP projects. The conceptualisation and implementation of PPPs involves managing both the public and private stakeholders to achieve the desired outcomes. These diverse stakeholders have different values, anchored by the need for rent extraction (profit maximisation motive) or self-interest, as advanced by stakeholder theory. By means of structured interviews, participants highlighted the limitations of each stakeholder and how these contribute to the negative perception of future PPPs. The obtained data were triangulated with secondary sources. The findings confirmed the pursuit of self-interest by various stakeholders, impacting the pace of PPP adoption of municipal water projects.

Corporate Zakat in Perspective of Stakeholder Theory: A Case Study of Islamic Rural Banks

In Indonesia, potential sources of zakat are grouped into three parts: potential zakat from individual or family groups, potential zakat from companies/industry, and from the results of deposits of zakat funds stored in banks. This study analyzes corporate zakat from the stakeholder theory's perspective with primary and secondary data from Islamic rural banks in the Special Region of Yogyakarta. The data analysis used qualitative from interviews and quantitative descriptive approach from the company report. Conclusions are drawn by describing secondary data, which is deepened through interviews with the directors of Islamic rural banks and relating them to stakeholder theory. The results of this study indicate that corporate zakat is in line with stakeholder theory because it positively impacts the performance of Islamic rural banks in Yogyakarta. Meanwhile, the muamalah approach to corporate zakat law has opened space for ijtihad against zakat law. Another conclusion states that Islamic rural banks that run zakat will improve business performance because the social approach can maintain stronger business relationships.

Ecological and social sustainable change through corporate social responsibility: The enabling role of employees

AbstractCorporate social responsibility (CSR) provides companies with an opportunity to contribute to addressing global challenges such as climate change, resource scarcity, wealth inequality, and fragile economic and political systems. Previous research has primarily focused on examining firm strategies and policies in response to these issues, but has paid limited attention to the involvement and role of employees in implementing CSR within organizations. By adopting a stakeholder theory perspective, this article aims to explore the perceptions and experiences of internal stakeholders regarding CSR initiatives. It also seeks to identify themes emerging from narrative interviews that are relevant to employees engaged in a transformative change process toward sustainability. The findings underscore the crucial role of employees as facilitators of CSR, highlight potential divergent perspectives on sustainability efforts, and recommend the inclusion and empowerment of employees in CSR initiatives. By doing so, organizations can effectively implement ecological sustainability and increasingly address social sustainability both within the firm and in the broader context.