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When stakeholder protection is left to the voluntary initiative of managers, relations with social activists may become an effective entrenchment strategy for inefficient CEOs. We thus argue that managerial turnover and firm value are increased by the institutionalization of stakeholder...
Persistent link: https://www.econbiz.de/10010547121
-term as well as in the long-term. Moreover, once we distinguish between different stakeholders, we posit that secondary … stakeholders such as community are even more important than primary stakeholders (customers, shareholders, workers and suppliers … gives further credibility to social responsible polices with other stakeholders. The result is a decrease in conflicts among …
Persistent link: https://www.econbiz.de/10010547296