haku: @indexterm Shareholders / yhteensä: 698
viite: 34 / 698
| Tekijä: | Choi, J. Wang, H. |
| Otsikko: | Stakeholder relations and the persistence of corporate financial performance |
| Lehti: | Strategic Management Journal
2009 : AUG, VOL. 30:8 p. 895-907 |
| Asiasana: | shareholders financial performance human resource management customer relations strategic planning management science |
| Kieli: | eng |
| Tiivistelmä: | The paper investigates the effect of a firm's relations with its nonfinancial stakeholders on the persistence of both superior and inferior financial performance. Especially the arguments that good stakeholder relations enable a firm with superior financial performance to sustain its competitive advantage for a longer period of time, and more importantly, also help poorly performing firms to recover from disadvantageous positions more quickly, are developed. The analysis of a series of first-order autoregressive models supports the arguments. The results suggest that the positive effect of good stakeholder relations on the persistence of superior performance is not as strong as that of some other firm resources, but it is the only factor examined that promises to help a firm recover from inferior performance. Thus, the role of positive stakeholder relations in helping poorly performing firms recover is found to be more critical than its role in helping superior firms sustain their performance advantage. |
SCIMA