Article2011

Paradigms for Sustainable Development: Implications of Management Theory

Saurav K. Dutta · Raef A. Lawson · David J. Marcinko

64 citations0/0 files storedCorporate Social Responsibility and Environmental Management

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Corporate Social Responsibility Reporting Environmental Sustainability in Business Corporate Social Responsibility and Sustainability

Abstract

ABSTRACT We provide a framework for examining the trade‐offs between socio‐environmental, organizational, and managerial goals. Using this framework we examine management choices under agency and stewardship theories. We advance a theory of social stewardship to explain behavior inconsistent with both agency and stewardship. We illustrate that social stewardship behavior by managers and principals, while best from a societal perspective, is not a viable management approach under current business and regulatory conditions. This conclusion is vital to public policymakers who seek to foster socially desirable behavior by publicly traded companies. Copyright © 2011 John Wiley & Sons, Ltd and ERP Environment.

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 1997Motivation and Personality 1989Agency Theory: An Assessment and Review 2007The Social Responsibility of Business Is to Increase Its Profits 2003Corporate Social and Financial Performance: A Meta-Analysis 1985The economic institutions of capitalism firms, markets, relational contracting 1985Positive Accounting Theory 1995A Natural-Resource-Based View of the Firm

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