Who or what decides how stakeholders are optimally engaged by governance networks delivering public outcomes?

As the problems involving infrastructure delivery have become more complex and contentious, there has been an acknowledgement that these problems cannot be resolved by any one body working alone. This understanding has driven multi-sectoral collaboration and has led to an expansion of the set of actors, including stakeholders, who are now involved in delivery of infrastructure projects and services. However, more needs to be understood about how to include stakeholders in these processes and the optimal ways of developing the requisite combination of stakeholders to achieve effective outcomes. This thesis draws on stakeholder theory and governance network theory to obtain insights into how three networks delivering public outcomes within the Roads Alliance in Queensland engage with stakeholders in the delivery of complex and sensitive infrastructure services and projects. New knowledge about stakeholders will be obtained by testing a model of Stakeholder Salience and Engagement which combines and extends the stakeholder identification and salience theory (Mitchell, Agle, and Wood, 1997), ladder of stakeholder management and engagement (Friedman and Miles, 2006) and the model of stakeholder engagement and moral treatment of stakeholders (Greenwood, 2007). By applying this model, the broad research question: “Who or what decides how stakeholders are optimally engaged by governance networks delivering public outcomes?” will be addressed. The case studies will test a theoretical model of stakeholder salience and engagement which links strategic management decisions about stakeholder salience with the quality and quantity of engagement strategies for engaging different types of stakeholders. The outcomes of this research will contribute to and extend stakeholder theory by showing how stakeholder salience impacts on decisions about the types of engagement processes implemented. Governance network theory will be extended by showing how governance networks interact with stakeholders through the concepts of stakeholder salience and engagement. From a practical perspective this research will provide governance networks with an indication of how to optimise engagement with different types of stakeholders.

Entrepreneurship and family firms : growth and survival

Family businesses dominate in a majority of economies (Astrachan and Shanker, 2003; Chrisman, Chua, and Sharma, 2005; Morck and Yeung, 2004). As entrepreneurial activities have been shown to be central to economic growth it is essential that family businesses, irrespective of ownership patterns, not only survive but also grow thus growing the economy overall. While a great deal is known about entrepreneurial activities and a body of knowledge is being developed in relation to entrepreneurial processes in family firms, more needs to be understood in relation to the dynamics of entrepreneurial activities at the individual family firm level. One area of particular interest is the dynamics within the business and the family and how these dynamics impact upon entrepreneurial activities. Specifically how relationships between and among family members engaged in the business can interact with professional non-family member senior executives. The senior executives can actively use their positions in such ways that initiatives suggested by family members are less successful than they might be. This paper addresses how ‘family’ aspects of a business can assist or impede the entrepreneurial activities of individuals. It takes into account some of the unique features of family businesses – such as the importance of ‘familiness’ as a competitive advantage; the direct links between ownership and control of a business and the recognition (often implicit) that individuals in families do make a difference to how the business functions (Habbershon and Williams, 1999, Sharma, 2004; and Tokarczyk, Hansen Green, and Down, 2007). This emphasis on individuals in families fits well with the idea of entrepreneur as individual, as expressed by Schumpeter (1934), Baumol et al (2007). The theoretical approach that adopted to explore the dynamics of processes occurring within family firms is structuration theory combined with a theory of embeddeness (Dacin, Ventresca and Beal, 1999; Giddens, 1979, 1984, Jack and Anderson, 2002; and Sarason, Dean and Dillard, 2006).

Governance networks and stakeholders : engaging through salience

Across Australia, construction and redevelopment of public infrastructure, continues to be a key factor in economic development. Within this context, road transport has been identified as key building block of Queensland‟s future prosperity. However, since the late twentieth century, there has been a shift away from delivery of large infrastructure, including road networks, exclusively by the state. Subsequently, a range of alternative models, have emerged in infrastructure project delivery. Among these, governance networks have become a widespread mechanism for planning and delivering infrastructure. However, despite substantial public investments in road infrastructure that are made through governance networks, little is known about how these networks engage with stakeholders who are potentially affected by road infrastructure projects. Although governance networks undertake management functions, it is unclear what drives stakeholder engagement within this networked environment and how stakeholder relationship management is operationalised. This paper proposes that network management functions undertaken by governance networks incorporate stakeholder engagement and that network managers play a key role in creating and sustaining connections between governance networks and their stakeholders Drawing on stakeholder theory and governance network theory, this paper contributes to the literature by showing that stakeholder engagement is embedded within network management and identifying the critical role of network managers in establishing and maintaining stakeholder engagement.

The determinants of corporate sustainability performance

This paper investigates the factors that drive high levels of corporate sustainability performance (CSP), as proxied by membership of the Dow Jones Sustainability World Index. Using a stakeholder framework, we examine the incentives for US firms to invest in sustainability principles and develop a number of hypotheses that relate CSP to firm-specific characteristics. Our results indicate that leading CSP firms are significantly larger, have higher levels of growth and a higher return on equity than conventional firms. Contrary to our predictions, leading CSP firms do not have greater free cash flows or lower leverage than other firms.

ERP stakeholders’ perceptions of data quality and utility

While data quality has been identified as a critical factor associated with enterprise resource planning (ERP) failure, the relationship between ERP stakeholders, the information they require and its relationship to ERP outcomes continues to be poorly understood. Applying stakeholder theory to the problem of ERP performance, we put forward a framework articulating the fundamental differences in the way users differentiate between ERP data quality and utility. We argue that the failure of ERPs to produce significant organisational outcomes can be attributed to conflict between stakeholder groups over whether the data contained within an ERP is of adequate ‘quality’. The framework provides guidance as how to manage data flows between stakeholders, offering insight into each of their specific data requirements. The framework provides support for the idea that stakeholder affiliation dictates the assumptions and core values held by individuals, driving their data needs and their perceptions of data quality and utility.

Corporate governance convergence and moral relativism

Research question / issue This paper frames the debate on corporate governance convergence in terms of the morality underlying corporate governance models. The claims and arguments of moral relativism are presented to provide theoretical structure to the moral aspects of corporate governance convergence, and ultimately the normative question of whether convergence should occur. Research findings / insights: The morality underlying different models of corporate governance has largely been ignored in the corporate governance convergence literature. A range of moral philosophies and principles that underlie the dominant corporate governance models are identified. This leads to a consideration of the claims and arguments of moral relativism relating to corporate governance. A research agenda around the claims of Descriptive and Metaethical moral relativism, and which ultimately informs the associated normative argument, is then suggested. Theoretical / Academic implications The application of moral relativism to the debate on corporate governance convergence presents a theoretical structure to the analysis and consideration of its moral aspects. This structure lends itself to further research, both empirical and conceptual. Practitioner / Policy implications The claims and arguments of moral relativism provide a means of analysing calls that are made for a culturally or nationally ‘appropriate’ model of corporate governance. This can assist in providing direction for corporate governance reforms and is of particular relevance for developing countries which have inherited Western corporate governance models through colonialism.

Country-by-country reporting: A critical analysis

This thesis evaluates the recent work of the Organisation for Economic Cooperation and Development and civil society groups in creating requirements for multinational entities to disclose financial information on a Country-by-Country basis. Country-by-Country reports may identify profit-shifting activities and enable various stakeholders to hold multinational entities accountable for their global conduct, through the provision of transparent and decision-useful information. This thesis identifies inadequacies in current disclosure requirements and develops a standardised Country-by-Country model, which is applied to the disclosures of three multinational entities to illustrate its pragmatic feasibility and the improvement in quality of financial information available to users.

Social and environmental reporting practices of organisations operating in, or sourcing products from, a developing country : evidence from Bangladesh

This research consists of a broad study in three parts of the social and environmental reporting practices of organisations operating in or sourcing products from a developing country, in this case Bangladesh. The first part of this study explores the social and environmental disclosure practices of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the body responsible for organising the activities of 4,200 entities involved in the export of garments from Bangladesh. By way of interview, this part documents the opinions of numerous senior executives from the BGMEA with regard to any changes in the degree of social and environmental pressures since 1985. Utilising a complementary theoretical perspective that includes legitimacy theory, stakeholder theory and institutional theory this part then performs an analysis of the BGMEA's annual reports (1987-2005), t o explore the link between the perceived pressures and changes entailed therein and the social and environmental disclosure practices of the BGMEA across the period of analysis. The results show that the disclosure practices of BGMEA appear to be directly driven by the changing expectations of multinational buying companies- the group deemed to be the most powerful stakeholder group. This section is the first known study to interview managers from a large organisation in a developing country about shifting stakeholder expectations and then to link these changing expectations to annual report disclosures across an extended period of analysis. The findings then directly lead to the second major part of this thesis which investigates the social and environmental disclosure practices of two major multinational buying companies: Nike and H&M. Adopting a joint consideration of legitimacy theory and media agenda setting theory, this second part investigates the linkage between negative media attention and positive corporate social and environmental disclosures over a 19 year period. The results support the view that for those industry-related social and environmental issues that attract the greatest amount of negative media attention, these companies react by providing positive social and environmental disclosures. The results were particularly significant in relation to labour practices in developing countries-the issue that attracts the greatest amount of negative media attention for the companies in question. While the second part demonstrates that the media influences particular disclosure practices, the third part of the thesis shows what drives the media. Based on the speculation provided in the second part, the third part tests the proposition that the media is an important ally of NGOs in their quest to influence change in corporate accountabilities. Through the use of interviews, the results of this part of the study provide evidence to support previously untested perspectives about NGOs' utilisation of the m edia. The results reveal that NGOs use the media because the media is responsible for creating real changes in the operations and disclosure policies of organisations sourcing products from Bangladesh. The various pressures impacting the activities of organisations operating in or sourcing products from developing countries constitutes a fascinating area of investigation, and it is hoped that this study will motivate further research in this area.

The Environmental, Social, Governance, and Financial Performance Effects on Companies that Adopt the United Nations Global Compact

This paper aims to investigate companies' environmental, social, governance (ESG), and financial implications of their commitment to the United Nations Global Compact (UNGC). The focus is placed on companies operating in the three countries with the highest number of UNGC participants: Spain, France, and Japan. The results clearly reveal that adoption of the UNGC often requires an organizational change that fosters stakeholder engagement, ultimately resulting in improvements in companies' ESG performance. Additionally, the results reveal that ESG performance has a significant impact on financial performance for companies that adopted the principles of the UNGC. These findings provide both non-financial and financial incentives to companies to commit to this voluntary corporate social responsibility (CSR) initiative, which will have important implications on companies' strategic management policies that aim to foster sustainable businesses and community development. Finally, the linkages between the UNGC-committed companies' ESG and financial performance may be influenced by geographical spread, mainly due to the appearance of differences in the institutional, societal, and cultural settings.

Il Sistema di Revenue Management strumento per lo sviluppo turistico sostenibile delle destinazioni

Businesses interact constantly with the environment, realizing several and heterogeneous exchanges. Organizations can be considered a system of different interests, frequently conflicting and the satisfaction of different stakeholders is a condition of success and survival. National and international literature attempts to explain the complex connection between companies and environment. In particular, the Stakeholder Theory considers crucial for businesses the identification of different stakeholders and their involvement in decision-making process. In this context, profit can not be considered the only purpose of companies existence and business aims become more numerous and different. The Stakeholder Theory is often utilized as framework for tourism studies, in particular in Sustainable Tourism Development research. In fact, authors consider sustainable the tourism development able to satisfy interests of different stakeholders, traditionally identified as local community and government, businesses, tourists and natural environment. Tourism businesses have to guarantee the optimal use of natural resources, the respect of socio-cultural tradition of local community and the creation of socio-economic benefits for all stakeholders in destinations. An obstacle to sustainable tourism development that characterizes a number of destinations worldwide is tourism demand seasonality. In fact, its negative impact on the environment, economy and communities may be highly significant. Pollution, difficulties in the use of public services, stress for residents, seasonal incomes, are all examples of the negative effects of seasonality. According to the World Tourism Organization (2004) the limitation of seasonality can favour the sustainability of tourism. Literature suggests private and public strategies to minimize the negative effects of tourism seasonality, as diversification of tourism products, identification of new market segments, launching events, application of public instruments like eco-taxes and use of differential pricing policies. Revenue Management is a managerial system based on differential pricing and able to affect price sensitive tourists. This research attempts to verify if Revenue Management, created to maximize profits in tourism companies, can also mitigate the seasonality of tourism demand, producing benefits for different stakeholders of destinations and contributing to Sustainable Tourism Development. In particular, the study attempts to answer the following research questions: 1) Can Revenue Management control the flow of tourist demand? 2) Can Revenue Management limit seasonality, producing benefits for different stakeholders of a destination? 3) Can Revenue Management favor the development of Sustainable Tourism? The literature review on Stakeholder Theory, Sustainable Tourism Development, tourism seasonality and Revenue Management forms the foundation of the research, based on a case study approach looking at a significant destination located in the Southern coast of Sardinia, Italy. A deductive methodology was applied and qualitative and quantitative methods were utilized. This study shows that Revenue Management has the potential to limit tourism seasonality, to mitigate negative impacts occurring from tourism activities, producing benefits for local community and to contribute to Sustainable Tourism Development.

The evolution of the UK charity Statement of Recommended Practice: The influence of key stakeholders

In the early 1980s, a landmark study identified significant poor reporting practice in UK charities. As a consequence, a journey was commenced with the aim of improving accounting and reporting as a basis for enhancing accountability by charities. Much of this change has been effected through the publication of evolving Statements of Recommended Practice (SORPs) on accounting and reporting by charities. This paper analyses the evolution of the SORP through time using insights from stakeholder theory, and argues that the key stakeholders influencing the evolving SORP have been government and the accounting profession.

The Hand of Government in Shaping Accounting and Reporting in the UK Charity Sector

Accounting in the UK charity sector has changed massively over the last 25 years, with various stakeholders influencing what has occurred. Using insights from stakeholder theory, and interviews with a number of key actors, this article focuses on the influence of one definitive stakeholder – government – in developing a regime of quality accounting and reporting in the sector. In particular, the evolution of the Statement of Recommended Practice for charities is explored. It is argued that a much tighter and more meaningful regime of accounting and reporting has been encouraged by government, amongst other stakeholders, and this has led to a more accountable and healthier charitable sector.

Discharging not-for-profit accountability: UK charities and public discourse

Purpose: This paper aims to examine the accountability practices of large United Kingdom (UK) charities through public discourse.
Design/methodology/approach: Based on the ethical model of stakeholder theory, the paper develops a framework for classifying not-for-profit (NFP) accountability and analyzes the content of the annual reports and annual reviews of a sample of large UK charities using this framework.
Findings: The results suggest that contrary to the ethical model of stakeholder theory, the sample charities’ accountability practices are motivated by a desire to legitimize their activities and present their organizations’ activities in a positive light. These results contradict the raison d’eˆ tre of NFP organizations (NFPOs) and the values that they espouse. Research limitations/implications: Understanding the nature of accountability reporting in NFPOs has important implications for preparers and policy makers involved in furthering the NFP agenda. New research needs to examine shifts in accountability practices over time and assess the impact of the recent self-regulation developed to enhance sector accountability.
Originality/value: This paper contributes to the NFP accountability literature by: first, developing a framework of NFP accountability through public discourse using the ethical model of stakeholder theory; and second, advancing the understanding of the accountability practices of large UK charities.

Towards Charity Accountability: Narrowing the gap between provision and needs?

Although charities currently play a rich and varied role in modern society, their continued success is dependent upon the public's trust. With respect to charity accountability, two key questions emerge: to whom is a charity accountable; and what form should that account take? Despite the widespread acceptance that charities should discharge accountability, there is limited knowledge of the relative importance of different stakeholder groups and whether the information currently being disclosed meets their needs. Using extensive document analysis and a survey of stakeholders, this research explores these issues in the context of the top 100 UK fundraising charities. Furthermore, it compares the results with much earlier research to identify changes over time.

Transparency in Reporting on Charities’ Efficiency: A Framework for Analysis

In recent difficult economic times, the efficiency with which a charity spends the funds entrusted to it has become an increasingly important aspect of charitable performance. Transparency on efficiency, including the reporting of relevant measures and information to understand, contextualise and evaluate such measures, is suggested as important to a range of stakeholders. However, using a novel framework for the analysis of efficiency reporting in the context of transparency and stakeholder theory, this research provides evidence that reporting on efficiency in UK (United Kingdom) charities lacks transparency, both in terms of the extent and manner of disclosure. It is argued that efficiency reporting in UK charities is more concerned with legitimising these organisations rather than providing ethically-driven accounts of their efficiency.