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Stakeholders, reciprocity, and firm performance
Open accessAbstract
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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“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
In the citing paper
“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
In the citing paper
“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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Cited by
Sorted by citations
Stakeholder Theory: The State of the Art
Parmar, B. L., Freeman, R. E., Harrison, J. S., Wicks, A. C., Purnell, L., & de Colle, S. (2010) · Academy of Management Annals · doi:10.5465/19416520.2010.495581 · Cited by 2,755
Self-citationManaging for stakeholders, stakeholder utility functions, and competitive advantage
Harrison, J. S., Bosse, D. A., & Phillips, R. A. (2009) · Strategic Management Journal · doi:10.1002/smj.801 · Cited by 1,348
Self-citationStakeholder Theory, Value, and Firm Performance
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Stakeholder Theory and the Resource-Based View of the Firm
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Self-citation
Metadata
- Authors
- Bosse, D. A., Phillips, R. A., & Harrison, J. S.
- Affiliations
- University of Richmond (US)
- Corresponding author
- Bosse, Douglas A.
- Venue
- Strategic Management Journal
- Publisher
- Wiley
- Published
- 2008-11-24
- Volume
- 30
- Issue
- 4
- Pages
- 447-456
- ISSN
- 0143-2095 (ISSN-L)
- 1097-0266
- 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
- green
- autopapers.ssrn.com
- 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 › Economics, Econometrics and Finance › Economics and Econometrics › 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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