The assumption that economic actors behave in a boundedly self-interested manner promises fruitful new insights for strategic management. A growing literature spanning multiple disciplines indicates most actors' selfish utility maximizing behaviors are bounded by norms of fairness. Rather than...

A firm that manages for stakeholders allocates more resources to satisfy the needs and demands of its legitimate stakeholders than would be necessary to simply retain their willful participation in the firm's productive activities. We explain why this sort of behavior unlocks additional...

Firms must allocate some minimum amount of value to stakeholders in order to retain access to the resources they provide. Stakeholder theory suggests managers optimize firm-level performance by allocating more than this minimum amount. However, how much is too much? This article addresses the...