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Cited by 342Job Satisfaction and Organizational BehaviorLeadership and Management in OrganizationsCorporate Social Responsibility Reporting

Unrequited Profit: How Stakeholder and Economic Values Relate to Subordinates' Perceptions of Leadership and Firm Performance

de Luque, Mary Sully, Washburn, Nathan T., Waldman, David A., House, Robert J.·2008·Administrative Science Quarterly
DOI 10.2189/asqu.53.4.626
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Abstract

The purpose of the current study was to examine the indirect effects of executives' stakeholder and economic values on firm performance through their followers' perceptions of leadership and followers' extra effort. Analyses of data collected from separate surveys of chief executive officers (CEOs) and two subsets of followers in 520 firms in 17 countries show that CEOs' emphasis on economic values is associated with followers' perceptions of autocratic leadership, whereas CEOs' emphasis on stakeholder values is associated with followers' perceptions of visionary leadership. Additionally, visionary leadership relates positively to employees' extra effort, which in turn relates to firm performance; however, no relationship is found for autocratic leadership. We discuss how predominant decision-making values that are oriented toward a range of stakeholders may yield more favorable outcomes for leaders than values that focus primarily on economic-based issues.

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  • Servant leaders believe that serving other stakeholders benefits the organization because it leads to long-term organizational success.

    “Similar to stakeholder theory (de Luque, Washburn, Waldman, & House, 2008;Freeman, 1984), servant leaders believe that serving other stakeholders benefits the organization because it leads to long-term organizational success (van Dierendonck, 2011).”

    From Taking Stock of Moral Approaches to Leadership: An Integrative Review of Ethical, Authentic, and Servant Leadership (2019) · cites this paper as de Luque, Washburn, Waldman, & House, 2008

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Authors
de Luque, M. S., Washburn, N. T., Waldman, D. A., & House, R. J.
Affiliations
  • Thunderbird School of Global Management
  • Arizona State University (US)
  • University of Pennsylvania (US)
ORCID
Waldman, David A.
Venue
Administrative Science Quarterly
Publisher
SAGE Publications
Published
2008-12
Volume
53
Issue
4
Pages
626-654
ISSN
  • 0001-8392 (ISSN-L)
  • 1930-3815
DOI
10.2189/asqu.53.4.626
OpenAlex
W2095830115
Cited by
340
References
112
Citations by year
2026: 11 · 2025: 9 · 2024: 15 · 2023: 20 · 2022: 24 · 2021: 28 · 2020: 21 · 2019: 27 · 2018: 22 · 2017: 18 · 2016: 24 · 2015: 24 · 2014: 23 · 2013: 21 · 2012: 17
FWCI
22.81
Type
journal article
Language
en
Open access
closed
Licence
journals.sagepub.com/page/policies/text-and-data-mining-license (tdm)
Locations
Administrative Science Quarterly (publishedVersion)
Topics
  • Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Job Satisfaction and Organizational Behavior
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Leadership and Management in Organizations
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
Keywords
stakeholder value, economic value, leadership perceptions, authoritarian leadership, visionary leadership, extra effort, firm performance, chief executive officers, followers, cross-national comparison

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