Stakeholder prioritization and reporting: Evidence from Italy and the US |
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| Authors: | Giacomo Boesso Kamalesh Kumar |
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| Affiliation: | 1. Department of Economics and Business, University of Padova (Italy), Via Del Santo, 33, 35123, Padova, Italy;2. School of Management, The University of Michigan-Dearborn, Dearborn, MI 48128, USA;1. Department of Enterprise Engineering, University of Rome “Tor Vergata”, Italy;2. DTU Management Engineering, Technical University of Denmark, Denmark;1. CENSE – Center for Environmental and Sustainability Research, Departamento de Ciências e Engenharia do Ambiente, Faculdade de Ciências e Tecnologia, Universidade Nova de Lisboa, Campus de Caparica, 2829-516 Caparica, Portugal;2. CVRM – Geo-Systems Center, Faculdade de Ciências e Tecnologia, Universidade do Algarve, Campus de Gambelas, 8005-139 Faro, Portugal;1. Cardiff Business School, Cardiff University, Aberconway Building, Colum Drive, Cardiff, CF10 3EU, UK;2. School of Economics and Financial Management, Bristol University, UK;3. Henley Business School, University of Reading, UK;1. International Centre for Research in Events, Tourism and Hospitality, School of Events, Tourism & Hospitality, Leeds Beckett University, Leeds, UK;2. Research Group in Tourism, Hospitality and Mobilities, School of Tourism and Hospitality Management Sant Ignasi, Ramon Llull University, Barcelona, Spain;3. Departamento de Economía Financiera y Contabilidad I, Facultad de Ciencias Jurídicas y Sociales Universidad Rey Juan Carlos, Madrid, Spain;1. Faculty of Business and Law, Auckland University of Technology, Private Bag 92006, Auckland 1142, New Zealand;2. Department of Accounting, Finance, and Information Systems, University of Canterbury, Private Bag 4800, Christchurch, New Zealand |
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| Abstract: | This study investigates the considerations that might be made by managers when choosing between mutually exclusive stakeholder expectations and reaching and engaging in a dialogue with them. In addition, the study also examines if there are systematic differences across countries (Italy and the US) in the decision to address the concerns of various stakeholder groups. Data was collected from 244 managers and 72 companies simultaneously in two different national business contexts, Italy and the US. The results of the study provide some evidence that managerial perception of three stakeholder group characteristics – power, legitimacy, and urgency – form a parsimonious group of variables that explain the process of stakeholder prioritization. However, only limited support was found for the relationship between salience accorded to a stakeholder group and engagement efforts directed toward the group. The results of the study also show that the managerial decision as to which of the stakeholder groups’ demands to address will be influenced by society-specific expectations. The significance of this study lies in investigating the stakeholder prioritization and engagement process, as it is being practiced, which, one could argue, would help in developing guidelines for effective stakeholder management that stands a realistic chance of being adapted and followed. |
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