An Innovative Approach to Stakeholder Theory: application in spanish transnational corporations

• Autor(a) principal: Retolaza, Jose Luis
• Data de Publicação: 2015
• Outros Autores: Ruiz-Roqueñi, Maite, San-Jose, Leire
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Revista Brasileira de Gestão de Negócios (Online)
• Texto Completo: https://rbgn.fecap.br/RBGN/article/view/2056
• topic: Stakeholder Approach; Social Value; Accounting; Strategy; Stakeholder; stakeholder; Stakeholder

Objective – This paper describes a different perspective on theapplication of stakeholder theory, concentrating only on the interestsof stakeholders rather than on their roles. The purpose of this articleis to provide an option for solving Jensen’s “problem of governance”;this approach will allow the agent to manage the stakeholders havingascertained that the needs of stakeholders overlap and, accordingly, theagent should be able to monitor multiple stakes as they are aligned.Design/methodology/approach – A Delphi method was used withthe aim to achieve consensus about the interests of stakeholders forcompanies in Spain. The confirmatory phase was based on interviewsto test whether the interests identified in the preliminary study matchthe interests that the IBEX-35 firms recognized in relation with theirstakeholders.Findings – The main contributions are: the addition of a new interestbasedperspective to the different classifications made by stakeholdertheory; a solution to the diversity of indicators between stakeholdersand shareholders; and, finally, a proposal for an integrated accountingsystem, incorporating economic as well as social issues employing acommon metric (monetary).Practical implications – A new perspective focusing on stakeholderinterests and the confirmation that interests may converge permitsthe control and management of multiple principals in transnationalcorporations operating in different countries.Originality/value – There is a gap in the applicability of stakeholdermanagement that the interest-based perspective can help resolve;moreover the monetization of social value is an option to efficientlymanage transnational corporations.