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Kamis, 29 Maret 2012

THE CONTRIBUTION OF STAKEHOLDER THEORY TO UNDERSTANDING GOOD CORPORATE GOVERNANCE

by : Trevor D. Wilmshurst
Published : Proceedings of the 17th Asian Pacific Conference on International Accounting Issues , 20-23 November 2005, Wellington, New Zealand EJ (2005) 

 ABSTRACT
In this paper the contribution of stakeholder theory to good corporate governance is discussed. This study sought to assess whether theories about firm-stakeholder interactions offered insights into motivations influencing the decision to report to stakeholders. Stakeholder theories have fallen into managerial or normative-ethical perspectives. This study identifies the motivations underlying each of these theories and assesses whether they influence the decision to report. Data analysis found that each offers only a part of the story supporting the contention that an approach combining the various theories would better reflect decision making. It is argued that such an approach would better enable an understanding of whether or not stakeholder reporting undertaken could be described as good corporate governance practice.
Key words: Stakeholder theory, corporate governance, reporting, disclosure, motivation,
environment, stakeholders
 
INTRODUCTION
TIns paper reports on a study that investigated the motivations of management to report environmental information to stakeholders, and was undertaken in the context of stakeholder theory. Theories about stakeholders suggest motives for the decision to report to stakeholders, taking either a management or a normative-ethical approach to their construction. Recent literature has called for an approach to stakeholder theory that bridges the gap between the managerial and normative-ethical theories arguing that both managerial and normative-ethical concerns enter into the decision making process as management decide what to report to . . . .. . (read more /baca_selengkapnya )

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