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Cited by 558Corporate Social Responsibility ReportingJob Satisfaction and Organizational BehaviorExperimental Behavioral Economics Studies

Stakeholders, reciprocity, and firm performance

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Bosse, Douglas A., Phillips, Robert A., Harrison, Jeffrey S.·2009·Strategic Management Journal
DOI 10.1002/smj.743
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Abstract

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 being purely self‐interested, people behave reciprocally by rewarding others whose actions they deem fair and willingly incurring costs to punish those they deem unfair. Economists show that employers who are perceived as distributionally fair by their employees generate comparatively more value due to the positively reciprocal behavior of those employees. The organizational justice literature distinguishes two additional types of fairness assessed by employees. Drawing from both these bodies of work, we employ stakeholder theory to propose how perceptions of fairness result in reciprocity (1) extending to all stakeholders of the firm and (2) affecting firm performance. Copyright © 2008 John Wiley & Sons, Ltd.

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Crossref · 10.1002/smj.743

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  • Theories that include fairness are better equipped to explain behavior in contexts of dispersed control than existing theories of rational behavior.

    “As a consequence, theories that include fairness are better equipped to explain behavior in contexts of dispersed control than existing theories of rational behavior (Bosse et al. 2009).”

    From Stakeholder marketing: theoretical foundations and required capabilities (2015) · cites this paper as Bosse et al. 2009

  • Stakeholder marketing capabilities are likely to have a long-term and indirect impact on firm performance.

    “Instead, based on literature on stakeholder relations (Maignan and Ferrell 2004;Bosse et al. 2009;Choi and Wang 2009;Surroca et al. 2010), we expect their impact to be long-term and indirect.”

    From Stakeholder marketing: theoretical foundations and required capabilities (2015) · cites this paper as Bosse et al. 2009

  • Stakeholders can be expected to optimize self-interest under constraints of fairness.

    “Therefore, stakeholders can be expected to optimize self-interest under constraints of fairness (Bosse et al. 2009).”

    From Stakeholder marketing: theoretical foundations and required capabilities (2015) · cites this paper as Bosse et al. 2009

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Related

Authors
Bosse, D. A., Phillips, R. A., & Harrison, J. S.
Affiliations
University of Richmond (US)
Corresponding author
Bosse, Douglas A.
ORCID
Venue
Strategic Management Journal
Publisher
Wiley
Published
2008-11-24
Volume
30
Issue
4
Pages
447-456
ISSN
  • 0143-2095 (ISSN-L)
  • 1097-0266
DOI
10.1002/smj.743
OpenAlex
W2146209612
Cited by
558
References
58
Citations by year
2026: 33 · 2025: 34 · 2024: 37 · 2023: 43 · 2022: 37 · 2021: 46 · 2020: 42 · 2019: 45 · 2018: 37 · 2017: 36 · 2016: 37 · 2015: 34 · 2014: 21 · 2013: 28 · 2012: 15
FWCI
31.36
Type
journal article
Language
en
Open access
Licence
onlinelibrary.wiley.com/termsAndConditions#vor (vor)
Locations
  • Strategic Management Journal (publishedVersion)
  • SSRN Electronic Journal (submittedVersion)
Topics
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
  • Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Job Satisfaction and Organizational Behavior
  • Social Sciences › Safety Research › Experimental Behavioral Economics Studies
Keywords
reciprocity, fairness, stakeholder theory, firm performance, organizational justice, distributive fairness, procedural justice, perceived fairness, employee behavior, stakeholder perspectives

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