Stakeholder Value Research Articles

The Role Of Governance And Integrated Reporting Quality In Stakeholder Value Creation

The Role Of Governance And Integrated Reporting Quality In Stakeholder Value Creation

Can we stop reinventing the wheel in blue-green infrastructure planning? Using value-focused thinking to enable transferability of a multicriteria planning support system

Strategic planning approaches are essential for addressing the complex and multi-dimensional challenges in selecting blue-green infrastructure (BGI) location. The development of planning support systems (PSS) for BGI siting often lacks a value-based approach with early stakeholder engagement. In this study, we used value-focused thinking (VFT) to adapt and develop a BGI planning support framework to the Canadian urban context, moving towards an objective-driven framework. We provide a hierarchical objectives framework for BGI planning in urban areas, aligned with stakeholder values, with three-level information: higher-level objectives, lower-level objectives and measurable spatial attributes. To assess site performance across these attributes, value scales elicitation was conducted with 17 experts. The engagement of 37 stakeholders in co-creating and validating our objectives set helped identify common concerns and refine our framework, focusing on the most relevant objectives for stakeholders. The VFT approach and the resulting framework can be easily transferred to other cities in Quebec (Canada), but also to other urban contexts looking to optimize BGI site selection to maximize benefits across the multiple functions of BGI and opportunities arising from the urban context.

Balancing act: the complex role of artificial intelligence in addressing burnout and healthcare workforce dynamics

Burnout and workforce attrition present pressing global challenges in healthcare, severely impacting the quality of patient care and the sustainability of health systems worldwide. Artificial intelligence (AI) has immense potential...

The Influence of Governance Characteristics and Enterprise Risk Management on Intellectual Capital in Banking in Indonesia

Intellectual capital (IC) is a crucial driver of developing knowledge-based economic value for an organization, such as a bank. With intellectual capital, company can generate knowledge-based economic value as a source of competitive advantage, influencing innovation and value for stakeholders. This research aims to analyze and explain the influence of governance characteristics and enterprise risk management on intellectual capital in banking in Indonesia. The independent variables are audit committee, board independence, institutional ownership, enterprise risk management, return on assets, leverage and corporate social responsibility as well as the dependent variable intellectual capital. The data used in this research is secondary data sourced from the annual reports of banking companies listed on the Indonesia Stock Exchange (BEI) during the period 2018 to 2022. The research sample was selected using a purposive sampling method so that 42 companies were sampled. The data analysis used to test the hypothesis is multiple regression analysis using e-views 9. The research results show that the audit committee has a positive effect, board independence has a negative effect, institutional ownership has a negative effect, enterprise risk management has no effect, return on assets has an effect positively, leverage has no effect, and corporate social responsibility has a negative effect on intellectual capital. Implications of this research to understand how bank managers affect intellectual capital, this study examines a variety of factors, including audit committee, board independence, institutional ownership, enterprise risk management, return on assets, leverage and corporate social responsibility. It suggests that managers should focus on enhancing their intellectual capital to make informed investment decisions and effectively manage their bank's resources, thereby enhancing their investment performance.

Enhancing Stakeholder Value: Managerial Activities in the Value Creation Process for Suppliers and Buyer—Evidence from Slovak Enterprises

Enhancing Stakeholder Value: Managerial Activities in the Value Creation Process for Suppliers and Buyer—Evidence from Slovak Enterprises

Pathway to ‘creating shared value’ in destination management organizations: Insights from literature review

Responsible tourism development has become a critical component of destination governance. Creating Shared Value (CSV) has demonstrated enormous potential for enhancing the value propositions of several industries by creating sustainable and socially responsible value for stakeholders. However, its effective implementation in the tourism industry has made little progress primarily due to the lack of information supporting its implementation and outcomes. Reflecting on how CSV is implemented across industries, the present study seeks to develop a framework for Destination Management Organizations (DMOs). We identify the building blocks of CSV through a systematic literature review and arrange them to create a conceptual framework. The findings demonstrate that a DMO-specific CSV framework is a powerful differentiator and offers several economic, social, and environmental benefits for society, the tourism industry, and stakeholders. The study extends the application of CSV to the tourism and hospitality industry and provides tourism managers and practitioners with guidelines for developing shared value-creation strategies.

A Systems Engineering Approach to Incorporate ESG Risks and Opportunities in Early-Stage Mine Design and Planning

This study examines how ESG risks and opportunities can be systematically identified, assessed, and incorporated into the early-stage design and planning of natural resources projects. The focus for this study will be on the mining activities required to source the resources for the global decarbonization effort. The need for a framework to incorporate ESG risks and opportunities into the strategic mine planning process was first identified in the de Beers Sustainability Valuation Approach. The Social Value Capital Decision Model advanced by BHP represents an advance on the de Beers model. This is the first example of a structured methodology for systematically considering stakeholder values and incorporating these into the capital decision framework. To test the applicability of a new approach to mine design by using Quality Function Deployment (QFD), a case study involving a copper mine located in South America was developed. This case study demonstrates how QFD can provide clear line-of-sight to connect design decisions with priority stakeholder concerns. The framework provides a communications tool for aligning the ESG design process across functional silos within complex organizations. The development of appropriate software tools could assist in managing the inherent complexity associated with integrating stakeholder value concerns into early stage design decisions.

Performance Measurement System Design for Integrated Thinking: Evidence from Japanese Electric Utility Providers

Asian companies are increasingly practicing integrated reporting to create long-term economic, environmental, and social value for investors and other stakeholders. To accomplish such value creation, far-reaching changes in strategies, management control systems, and governance are required, which is achieved through a management approach called integrated thinking. However, findings from previous studies indicate barriers in designing performance measurement systems, leading to misalignment between strategies and managers' decision-making. Therefore, this research study aims to expand existing knowledge on integrated reporting by (1) developing a conceptual framework for the characteristics of performance measurement systems to support integrated thinking and (2) analyzing the current status of performance measurement systems used by Japanese electric utility providers. To support integrated thinking, performance measurement systems should contain multidimensional and connected key performance indicators with quantitative target values and action plans that are integrated into the management reward system. By utilizing primary data, the most recent integrated reports of all 11 Japanese electric utility providers were analyzed trough a manual content analysis and percentage analysis. On average, the requirements of performance measurement system design are fulfilled to a degree of 56 %, while the lowest degree being 39 % and the highest degree being 75 %. In most cases, companies use multidimensional key performance indicators with incomplete target values and vaguely defined action plans. Key performance indicators are insufficiently connected and integrated with rewards systems, indicating the outside-in approach of integrated reporting. Larger companies that explicitly refer to the <IR> Framework tend to use more sophisticated performance measurement systems. The findings suggest several areas for improvement, such as connectivity between KPIs as well as further integrating non-financial KPIs with the rewards system.

A framework for analysis of stakeholder dynamics and value creation in industrial maintenance projects: the stakeholder ipot

This paper proposes a methodological approach that can be applied in practice for evaluating stakeholder dynamics and assessing projects against appropriate value propositions within an industrial maintenance project context. A conceptual framework is proposed and is demonstrated through a case analysis. It is expected that the proposed methodology, the Stakeholder Interdependent Performance Opportunities and Threats, (Stakeholder iPOT), can advance project management practice by offering a mechanism for analysing stakeholder expectations and responses to the opportunities and threats that different project events present. This study highlights the need for continued investigation not only within the context of industrial maintenance projects but also in other sectors to improve our understanding and ability to effectively manage stakeholder dynamics.

Experience design: Creating value for non-profits

In today’s hypercompetitive markets, most sectors are saturated with competitors making it more important than ever for companies to generate unique value for stakeholders. Customer experiences are being increasingly and purposefully crafted as a means to create such value and establish competitive advantage. Although for-profits have been quick to adopt the practice of experience design (XD) to develop meaningful experiences and interactions, non-profit entities have been slow to follow. XD is an integrated and strategic operational approach that creates relevant value for stakeholders of an organization by designing customizable yet consistent brand experiences. The failure to embrace and adopt XD is a missed opportunity for non-profits. While a well-crafted experience offers a supplemental value for the products and services of for-profit firms, experiences provide a fundamental and exceptional source of value for non-profit organizations. Thoughtful XD offers the potential to establish trust, improve connectivity, build loyalty, and boost relevance with a diverse set of stakeholders, including donors, employees, and strategic partners. Successful outcomes of well-executed XD at non-profit organizations include increased donor retention rates, larger financial resource pools, and enhanced societal impact. Our work outlines key principles for implementing XD and equips resource-constrained non-profits in implementing XD in a low-cost manner.

Blockchain-driven decentralized identity management: An interdisciplinary review and research agenda

The rise of blockchain technology has sparked interest in decentralized identity management (DIdM). However, DIdM's interdisciplinary nature has led to a fragmented understanding. We propose a “Task Structure-Technological Properties-Fit” framework to clarify the application of DIdM across tasks and contexts. We conducted a comprehensive review of 149 DIdM papers to define task structure (task goals and stakeholder values), task goals (identity value creation and value maintenance), stakeholders (users, service providers, identity issuers, regulators, and infrastructure builders), and DIdM properties (interoperability and self-sovereignty). We explored how these elements could align and then highlight research gaps and present a DIdM research agenda.

The Stakeholder Value Creation and Appropriation Model: A New Tool for Addressing Grand Challenges?

The Stakeholder Value Creation and Appropriation Model: A New Tool for Addressing Grand Challenges?

The Impact of Growth: Stakeholder Value Creation by High-Growth Firms

The Impact of Growth: Stakeholder Value Creation by High-Growth Firms

How does ESG performance determine the level of specific financing in capital structure? New insights from China

Sustainable finance has gained attention as investors emphasize environmental, social, and governance (ESG) factors in investment decisions. Understanding ESG's impact on corporate financing is crucial for stakeholders. However, evidence on ESG and capital structure, especially in Chinese enterprises, is limited. This study investigates the link between ESG performance and capital structure in Chinese firms, focusing on debt and equity financing. Using panel data from 2010 to 2022 and the system GMM model, the study controls for firm-specific factors. Results show environmental and governance scores negatively relate to debt financing and positively to equity financing. Social scores show no significant impact on debt but a positive one on equity financing. All ESG indicators positively relate to the debt-to-equity ratio, highlighting sustainability's role in capital structure decisions. These findings guide policymakers in incentivizing sustainable practices and help corporate leaders align financing strategies with sustainability goals, supporting long-term growth and stakeholder value.

Empowering farmers and enhancing sustainability: Inaru’s impact on the Dominican cocoa industry

Learning outcomes After completion of the case study, the students will be able to understand the challenges faced by cocoa farmers in developing countries and their impact on the cocoa value chain, describe the need for a business to create a business model that offers social impact in small developing economies, explore innovative business models, such as vertical integration, for addressing transparency and fair compensation issues in agricultural supply chains, analyze the role that start-ups can play in disrupting the commodities supply chain and building a national competitive advantage and examine how a values-driven business can gain the trust of stakeholders and create a profitable ecosystem. Case overview/synopsis This case study describes the innovative business model of Inaru Corporation, a pioneering venture founded by two sisters, Janett Liriano and Erika, aimed at revolutionizing the cocoa industry in the Dominican Republic. This case study outlines the challenges faced by cocoa farmers in the country, including low productivity, exploitation by middlemen and lack of value addition. Inaru’s innovative business model aimed to disrupt the traditional supply chains by prioritizing fair compensation for farmers, investing in sustainable practices and vertically integrating cocoa production from farming to manufacturing. Through direct relationships with producers, profit-sharing agreements, and a commitment to ethical business practices, Inaru sought to empower cocoa farmers and cultivate a more equitable and sustainable cocoa industry. Inaru was a model for ethical and caring business practices where it shared the profits with its farmers. By operating a profit-sharing model and sharing its fortune with other women, Inaru was helping create gender equity in the cocoa sector. Inaru planned to scale its business model to other cocoa-producing countries and even transfer its business model strategy to other commodities beginning with the coffee segment in Dominican Republic. By exploring Inaru’s case study, students gain a deep understanding of how businesses can drive positive change, create value for stakeholders and contribute to sustainable development goals. Complexity academic level This case was written for use in teaching graduate and postgraduate management courses in entrepreneurship and economics, politics and business environment. Supplementary materials Teaching notes are available for educators only. Subject code CSS 3: Entrepreneurship.

A Comprehensive Framework for Evaluating the Value Created by Real-World Evidence for Diverse Stakeholders: The Case for Coordinated Registry Networks.

This manuscript presents a comprehensive framework for the assessment of the value of real-world evidence (RWE) in healthcare decision-making. While RWE has been proposed to overcome some limitations of traditional, one-off studies, no systematic framework exists to measure if RWE actually lowers the burden. This framework aims to fill that gap by providing conceptual approaches for evaluating the time and cost efficiencies of RWE, thus guiding strategic investments in RWE infrastructure. The framework consists of four components: (114th Congress. 21st Century Cures Act.; 2015. https://www.congress.gov/114/plaws/publ255/PLAW-114publ255.pdf .) identification of stakeholders using and producing RWE, (National Health Council. Glossary of Patient Engagement Terms. Published 2019. Accessed May 18. 2021. https://nationalhealthcouncil.org/glossary-of-patient-engagement-terms/ .) understanding value propositions on how RWE can benefit stakeholders, (Center for Drug Evaluation and Research. CDER Patient-Focused Drug Development. U.S. Food & Drug Administration.) defining key performance indicators (KPIs), and (U.S. Department of Health and Human Services - Food and Drug Administration: Center for Devices and Radiological Health and Center for Biologics Evaluation and Research. Use of Real-World Evidence to Support Regulatory Decision-Making for Medical Devices - Guidance for Industry and Food and Drug Administration Staff. 2017. http://www.fda.gov/BiologicsBloodVaccines/GuidanceComplianceRegulatoryInformation/Guida .) establishing metrics and case studies to assess value. KPIs are categorized as 'better, faster, or cheaper" as an indicator of value: better focusing on high-quality actionable evidence; 'faster,' denoting time-saving in evidence generation, and 'cheaper,' emphasizing cost-efficiency decision compared to methodologies that do not involve data routinely collected in clinical practice. Metrics and relevant case studies are tailored based on stakeholder value propositions and selected KPIs that can be used to assess what value has been created by using RWE compared to traditional evidence-generation approaches and comparing different RWE sources. Operationalized through metrics and case studies drawn from the literature, the value of RWE is documented as improving treatment effect heterogeneity evaluation, expanding medical product labels, and expediting post-market compliance. RWE is also shown to reduce the cost and time required to produce evidence compared to traditional one-off approaches. An original example of a metric that measures the time saved by RWE methods to detect a signal of a product failure was presented based on analysis of the National Cardiovascular Disease Registry. The framework presented in this manuscript offers a comprehensive approach for evaluating the value of RWE, applicable to all stakeholders engaged in leveraging RWE for healthcare decision-making. Through the proposed metrics and illustrated case studies, valuable insights are provided into the heightened efficiency, cost-effectiveness, and improved decision-making within clinical and regulatory domains facilitated by RWE. While this framework is primarily focused on medical devices, it could potentially inform the determination of RWE value in other medical products. By discerning the variations in cost, time, and data utility among various evidence-generation methods, stakeholders are empowered to invest strategically in RWE infrastructure and shape future research endeavors.

How to have the best of both worlds: Value‐based decision‐making through stakeholder value trade‐offs

AbstractBy accounting for stakeholders' conflicting values, in this study, we argue that the conceptualization of stakeholder value trade‐offs can theoretically explain how stakeholder‐oriented managers can make value‐based decisions in pursuit of long‐term value creation for all stakeholders. Specifically, drawing on prospect theory and the value trade‐offs framework, we develop a value‐based decision‐making perspective when organizations manage for their stakeholders. Our framework encompasses four types of trade‐offs: taboo, routine, virtuous, and tragic each plays an important role in the value‐creating decision process. This interdisciplinary study proposes that managers should ground their value‐based decisions on the extent to which the chosen trade‐offs are morally justifiable. The study contributes to the current understanding of relationships between organizations and stakeholders from a decision‐making perspective.

Fostering the clinician as teacher: A realist review.

Clinician-teachers, physicians with educational responsibilities in either classroom or clinical setting, are assumed to add value by virtue of their dual role. The clinical responsibilities are often prioritised over the educational tasks. How and under which circumstances clinician-teachers are able to perform their educational role and create added value for different stakeholders is currently unclear. To identify for whom, how and under which circumstances educational activities executed by CTs by virtue of their dual role add value to others. CTs activities linking the system of education and clinical practice beyond direct patient interactions and purposefully executed. A realist review was conducted. Databases were searched in two stages: a narrow conventional search, followed by a comprehensive artificial intelligence-aided search. Studies concerning clinician-teachers' dual role were included. Realist analysis was applied to identify in which contexts resource mechanisms triggered reasoning mechanisms, which led to specific outcomes for different stakeholders. Sixty-six studies were included. In contexts where clinician-teachers' dual role was formally recognised and valued, clinician-teachers benefitted from the credibility and legitimacy bestowed on them, making the transfer of domain-specific knowledge more impactful. In contexts where sociocultural differences between both systems existed, CTs were able to mediate and adjust recommendations aligned with stakeholders' perceived relevance. Also, contexts organised to support both roles made resource mechanisms more impactful. Clinician-teachers added value to students' clinical competency and learning environment, and to educational organisations' curricular innovation. In their clinical workspace, clinician-teachers added value by enhancing colleague physicians' teaching expertise, implementing educational innovations and recruiting students for scarce specialisms. Clinician-teachers add value to students, colleague physicians and the clinical and educational contexts at large. Domain-specific knowledge of both systems was important to gain credibility and achieve added value. Openness, formal recognition and allocated time for both roles in educational and clinical contexts towards the dual role are important to strengthen the impact of the dual role.

Synergizing stakeholder collaboration for value co-creation in China's prefabricated decoration diffusion: A tripartite evolutionary game perspective

The emerging prefabricated decoration (PD) sector in China offers a compelling avenue for revolutionizing the construction industry, aligning with the imperatives of sustainability and industrialization. However, the outlook for the diffusion of PD in China's construction industry is less than promising. The development of PD is closely related to its value creation and the intricate interplay of stakeholder strategies and their ramifications on PD's value co-creation necessitates thorough exploration. Based on evolutionary game theory, this study elucidates the dynamic interactions among local governments, developers, and decoration contractors in China's evolving PD landscape. A tripartite evolutionary game model was established, investigating the evolutionary stable equilibriums and the corresponding strategies. Then, an empirical analysis in Chongqing City validates the game models and primary conclusions. Scrutinizing subsidy thresholds, local subsidy biases, PD proportion in prefabrication, and binary innovation allocation, the research unveils nuanced insights pertinent to boosting PD's value co-creation. Findings advocate an assembly rate threshold of subsidy (65%–70 %) and a shift towards incentivizing decoration contractors to catalyze PD adoption. Additionally, excessive PD proportion and immature product investments may hinder industry development, prompting stakeholders to recalibrate strategies dynamically. These findings characterize the mechanisms of stakeholder value co-creation during the PD diffusion, enriching the implications of value co-creation theory in the emerging industry of the construction sector. They also furnish stakeholders committed to promoting the diffusion of PD in the domestic and international construction sectors with practical strategic guidance, particularly tailored for cities in the early stages of PD development.

Leveraging plant functional traits in the design of nature‐based solutions: A research agenda

Abstract Nature‐based solutions (NbS) involve interventions that modify ecosystems to enhance multiple ecosystem services (ES). Yet, despite our increasing knowledge of the key role that functional traits play in determining ES, certain types of NbS often do not consider a functional trait perspective. A reason for this lack of translation may be the range of NbS approaches and levels of knowledge of trait–ES relationships. Functional traits may be most useful as targets for NbS design when knowledge on trait–ES mapping is established and the NbS involves a medium or high level of management intervention. A richer understanding of causality in trait–ES and trait–resilience linkages, and context dependency in those linkages, is needed to broaden the application of functional traits in NbS. An improved understanding of trait linkages with cultural ES and how traits interact with stakeholder values to shape NbS uptake would also improve application. Synthesis: A greater consideration of functional traits will increase the efficacy of NbS projects, and could be accelerated by tackling gaps in knowledge about functional traits. Here, we envision a research agenda that both advances NbS design and leverages the varied objectives of NbS to robustly test our knowledge about functional traits.