Article2013

Corporate Social Performance and Stakeholder Dialogue Management

José María Agudo Valiente · Concepción Garcés‐Ayerbe · Manuel Salvador

115 citations0/0 files storedCorporate Social Responsibility and Environmental Management

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Abstract

Abstract This study analyses how firms act with regard to social responsibility from the perspective of Stakeholder Theory. The objective is to empirically analyse the importance of communication with stakeholders for social responsibility. This involves the establishment of a structural equation model that enables analysis of the empirical relationship between firms' degree of communication with stakeholders and the effectiveness of their corporate social responsibility, measured by corporate social performance (CSP). We adopt a Bayesian approach that enables exact inferences concerning the model's parameters and handles missing data by random imputations, thus increasing the study's reliability. The results obtained from a sample of 416 Spanish organisations show the importance of interacting and establishing channels of communication with different stakeholders in order to identify their specific demands and expectations. Indeed, communication with stakeholders helps firms to improve their CSP programmes and activities. We can thus conclude that failure to establish good communication channels could have a negative effect on social responsibility. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment

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References

2010Strategic management a stakeholder approach 1989Structural Equations with Latent Variables 1979A Three-Dimensional Conceptual Model of Corporate Performance 1995The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications 1991The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders 1995A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance 2001Corporate Social Responsibility: A Theory of the Firm Perspective 1999Corporate Social Responsibility

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