Hostname: page-component-89b8bd64d-ktprf Total loading time: 0 Render date: 2026-05-10T02:49:34.605Z Has data issue: false hasContentIssue false
  • English
  • Français

New Directions in Strategic Management and Business Ethics

Published online by Cambridge University Press:  23 January 2015

Heather Elms ,
Stephen Brammer ,
Jared D. Harris  and
Robert A. Phillips
Get access Rights & Permissions [Opens in a new window]

Abstract:

This essay attempts to provide a useful research agenda for researchers in both strategic management and business ethics. We motivate this agenda by suggesting that the two fields started with similar interests, diverged, and are beginning to converge again. We then identify several streams that hold particular promise for developing our understanding of the relationship between strategy and ethics: stakeholder theory, managerial discretion, behavioral strategy, strategy as practice, and environmental sustainability.

Information

Type
Business Ethics Quarterly: Twentieth Anniversary Forum, Part I: New Directions for Business Ethics Research
Information
Business Ethics Quarterly , Volume 20 , Issue 3 , July 2010 , pp. 401 - 425
Copyright
Copyright © Society for Business Ethics 2010

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Article purchase

Temporarily unavailable

References

REFERENCES

Adner, R., & Zemsky, P. 2006. A demand-based perspective on sustainable competitive advantage. Strategic Management Journal, 27: 215–39.CrossRefGoogle Scholar
Akerlof, G. A., & Kranton, R. E. 2010. Identity economics. Princeton, N.J.: Princeton University Press.CrossRefGoogle Scholar
Akerlof, G. A., & Shiller, R. J. 2009. Animal spirits. Princeton, N.J.: Princeton University Press.Google Scholar
Alzola, M. 2008. Character and environment: The status of virtues in organizations. Journal of Business Ethics, 78: 343–57.CrossRefGoogle Scholar
Andrews, K. R. 1971. The concept of corporate strategy. Homewood, Ill.: Dow Jones-Irwin.Google Scholar
Andrews, K. R. 1980. The concept of corporate strategy. Homewood, Ill.: Richard D. Irwin.Google Scholar
Ansoff, I. 1965. Corporate strategy. New York: McGraw-Hill.Google Scholar
Appiah, K.A. 2007. Experimental philosophy. Presidential Address, Eastern Division APA. Available at http://appiah.net/images/APA_Lecture_2007_for_Web.pdf.Google Scholar
Aquino, K., & Reed, A. 2002. The self-importance of moral identity. Journal of Personality and Social Psychology, 83: 1423–1440.CrossRefGoogle ScholarPubMed
Argote, L., & Greve, H. 2007. A behavioral theory of the firm—40 years and counting: Introduction and impact. Organization Science, 18: 337–49.CrossRefGoogle Scholar
Ariely, D. 2009. Predictably irrational: The hidden forces that shape our decisions (revised and expanded edition). New York: HarperCollins Publishers.Google Scholar
Arnold, D. G. 2010. The ethics of global climate change. Cambridge: Cambridge University Press.Google Scholar
Arnold, D. G., & Reynolds, S. J. 2007. Business ethics research. In Kolb, R. W. (Ed.), Encyclopedia of business ethics and society. Newbury Park, Calif.: Sage Publications.Google Scholar
Arrow, K. J. 1974. The limits of organization. New York: Norton.Google Scholar
Barnard, C. 1938/1968. The functions of the executive. 30th Anniversary Edition. Cambridge, Mass.: Harvard University Press.Google Scholar
Barnett, M. L. 2007. Stakeholder influence capacity and the variability of financial returns to corporate social responsibility. Academy of Management Review, 32: 794–816.Google Scholar
Barnett, M. L., & King, A. A. 2008. Good fences make good neighbors: A longitudinal analysis of an industry self-regulatory institution. Academy of Management Journal, 51: 1150–70.CrossRefGoogle Scholar
Barnett, M. L., & Salomon, R. M. 2006. Beyond dichotomy: The curvilinear relationship between social responsibility and financial performance. Strategic Management Journal, 27: 1101–22.CrossRefGoogle Scholar
Barney, J. B. 2005. Should strategic management engage public policy debates? Academy of Management Journal, 38: 945–48.CrossRefGoogle Scholar
Berchicci, L., & King, A. A. 2007. Postcards from the edge: A review of the business and environment literature. Academy of Management Annals, 1: 513–47.CrossRefGoogle Scholar
Berman, S. L., Wicks, A. C., Kotha, S., & Jones, T. M. 1999. Does stakeholder orientation matter? The relationship between stakeholder management models and firm financial performance. Academy of Management Journal, 42: 488–506.CrossRefGoogle Scholar
Borg, J. S., Hynes, C., Van Horn, J., Grafton, S., & Sinnott-Armstrong, W. 2006. Consequences, action, and intention as factors in moral judgments: An fMRI investigation. Journal of Cognitive Neuroscience, 18: 803–17.CrossRefGoogle Scholar
Bosse, D. A., Phillips, R. A., & Harrison, J. S. 2009. Stakeholders, reciprocity, and firm performance. Strategic Management Journal, 30: 447–56.CrossRefGoogle Scholar
Bowman, E. H., Singh, H., & Thomas, H. 2002. The domain of strategic management: History and evolution. In Pettigrew, A., Thomas, H., & Whittington, R. (Eds.), Handbook of strategy and management: 31–51. London: Sage.Google Scholar
Brammer, S., & Millington, A. 2008. Does it pay to be different? An analysis of the relationship between corporate social and financial performance. Strategic Management Journal, 29: 1324–43.CrossRefGoogle Scholar
Brandenburger, A., & Stuart, H. W. 1996. Value-based business strategy. Journal of Economics and Management Strategy, 5: 5–24.Google Scholar
Brenkert, G. G., & Beauchamp, T. L. 2010. Introduction. In The Oxford handbook of business ethics: 3–18. Oxford: Oxford University Press.CrossRefGoogle Scholar
Burger, J. M. 2009. Replicating Milgram: Would people still obey today? American Psychologist, 64: 1–11.CrossRefGoogle ScholarPubMed
Camerer, C., & Thaler, R. H. 1995. Anomalies: Ultimatums, dictators and manners. Journal of Economic Perspectives, 9: 209–19.CrossRefGoogle Scholar
Carpenter, M., & Golden, B. 1997. Perceived managerial discretion: A study of cause and effect. Strategic Management Journal, 18: 187–206.3.0.CO;2-U>CrossRefGoogle Scholar
Carter, C., Clegg, S., & Kornberger, M. 2008. Critical strategy: Revising strategy as practice. Strategic Organization, 6: 83–99.CrossRefGoogle Scholar
Chandler, A. D. 1962. Strategy and structure: Chapters in the history of the industrial enterprise. Cambridge, Mass.: MIT Press.Google Scholar
Chandler, D., & Rindova, V. P. 2009. Would you like fries with that? Producing and consuming social measures of firm value. Working Paper, University of Texas, Austin.CrossRefGoogle Scholar
Chatterji, A. K., Levine, D. I., & Toffel, M. W. 2009. How well do social ratings actually measure corporate social responsibility? Journal of Economics & Management Strategy, 18: 125–69.Google Scholar
Choi, J., & Wang, H. 2009. Stakeholder relations and the persistence of corporate financial performance. Strategic Management Journal, 30: 895–907.CrossRefGoogle Scholar
Christensen, C. R., Andrews, K. R., & Bower, J. L. 1977. Business policy: Text and cases. Homewood, Ill.: Richard D. Irwin. (Note that Porter, 1980/1998, refers to this as 1977 in the text, and 1973 in the bibliography).Google Scholar
Christmann, P. 2000. Effects of “best practices” of environmental management on cost advantage: The role of complementary assets. Academy of Management Journal, 43: 663–80.CrossRefGoogle Scholar
Clegg, S., Kornberger, M., & Rhodes, C. 2007. Business ethics as practice. British Journal of Management, 18: 107–22.CrossRefGoogle Scholar
Coff, R. W. 1999. When competitive advantage doesn’t lead to performance: The resourcebased view and stakeholder bargaining power. Organization Science, 10: 119–33.CrossRefGoogle Scholar
Coff, R. W. Forthcoming. The Co-evolution of rent appropriation and capability development. Strategic Management Journal.Google Scholar
Cropanzano, R., & Stein, J. H. 2009. Organizational justice and behavioral ethics: Promises and prospects. Business Ethics Quarterly, 19: 193–233.CrossRefGoogle Scholar
Cyert, R. M., & March, J. G. 1963/1992. A behavioral theory of the firm (2nd ed.). Malden, Mass.: Blackwell.Google Scholar
Darnall, N., Henriques, I., & Sadorsky, P. 2009. Adopting environmental strategy: The influence of stakeholder and firm size. Journal of Management Studies (early view online).Google Scholar
David, P., Bloom, M., & Hillman, A. 2007. Investor activism, Managerial responsiveness and corporate social performance. Academy of Management Review, 28: 91–100.Google Scholar
Dean, T. J., & McMullen, J. S. 2007. Toward a theory of sustainable entrepreneurship: Reducing environmental degradation through entrepreneurial action. Journal of Business Venturing, 22: 50–76.CrossRefGoogle Scholar
De Cremer, D., van Dijk, E., & Pilluda, M. M., 2010. Explaining unfair offers in ultimatum games and their effects on trust: An experimental approach. Business Ethics Quarterly, 20: 107–26.CrossRefGoogle Scholar
de Rond, M., & Thietart, R. A. 2007. Choice, chance, and inevitability in strategy. Strategic Management Journal, 28: 535–51.CrossRefGoogle Scholar
Doris, J. M. 2002. Lack of character: Personality and moral behavior. New York: Cambridge University Press.CrossRefGoogle Scholar
Eesley, C., & Lenox, M. J. 2006. Firm responses to secondary stakeholder action. Strategic Management Journal, 27: 765–81.CrossRefGoogle Scholar
Elms, A. C. 2009. Obedience lite. American Psychologist, 64: 32–36.CrossRefGoogle ScholarPubMed
Elms, H., Johnson-Cramer, M., & Berman, S. Forthcoming. Bounding the world’s miseries: Corporate responsibility and Freeman’s stakeholder theory. In Phillips, R. A. (Ed.), Stakeholder theory: A silver anniversary edition. Cambridge: Cambridge University Press.Google Scholar
Elms, H., & Phillips, R. A. 2009. Private security companies and institutional legitimacy: Corporate and stakeholder responsibility. Business Ethics Quarterly, 19: 403–32.CrossRefGoogle Scholar
Evan, W. M., & Freeman, R. E. 1989/1993. A stakeholder theory of the modern corporation: Kantian capitalism. Reprinted in Beauchamp, T. L. & Bowie, N. E. (Eds.), Ethical Theory and Business (3rd and 4th eds.), 75–84 in 4th ed. Englewood Cliffs, N.J.: Prentice Hall.Google Scholar
Fehr, E., Kirchsteiger, G., & Reidl, A. 1993. Does fairness prevent market clearing? An experimental investigation. Quarterly Journal of Economics, 108: 437–60.CrossRefGoogle Scholar
Ferraro, F., Pfeffer, J., & Sutton, R. I. 2005. Economics language and assumptions: How theories can become self-fulfilling. Academy of Management Review, 30: 8–24.CrossRefGoogle Scholar
Field, A. J. 2004. Altruistically inclined? Ann Arbor: University of Michigan Press.Google Scholar
Finkelstein, S., & Boyd, B. K. 1998. How much does the CEO matter? The role of managerial discretion in the setting of CEO compensation. Academy of Management Journal, 41: 179–99.CrossRefGoogle Scholar
Finkelstein, S., & Peteraf, M. A. 2007. Managerial activities: A missing link managerial discretion theory. Strategic Organization, 5: 237–48.CrossRefGoogle Scholar
Frank, R. F. 1988. Passions within reason. New York: W.W. Norton.Google Scholar
Frank, R. F. 2009. The economic naturalist’s field guide. New York: Basic Books.Google Scholar
Frank, R. H., Gilovich, T., & Regan, D. 1993. Does studying economics inhibit cooperation? Journal of Economic Perspectives, 7: 159–71.CrossRefGoogle Scholar
Freeman, R. E. 1984. Strategic management: A stakeholder approach. Marshfield, Mass.: Pitman Publishing, Inc.Google Scholar
Freeman, R. E. 1994. The politics of stakeholder theory: Some future directions. Business Ethics Quarterly, 4: 409–21.CrossRefGoogle Scholar
Freeman, R. E. 2008. Ending the so-called “Friedman-Freeman” debate. In Agle, B. R., Donaldson, T., Freeman, R. E., Jensen, M. C., Mitchell, R. K., & Wood, D. (Contributors), Dialogue: Toward superior stakeholder theory. Business Ethics Quarterly, 18: 153–90.Google Scholar
Freeman, R. E., & Gilbert, D. R. 1988. Corporate strategy and the search for ethics. Englewood Cliffs, N.J.: Prentice Hall.Google Scholar
Freeman, R. E., Harrison, J., Wicks, A. C., Parmar, B., & De Colle, S. 2010. Stakeholder theory: The state of the art. New York: Cambridge University Press.CrossRefGoogle Scholar
Frooman, J. 1999. Stakeholder influence strategies. Academy of Management Review, 24: 191–205.CrossRefGoogle Scholar
Ghemawat, P. 2010. Strategy and the business landscape (3rd ed.). Upper Saddle River, N.J.: Prentice Hall.Google Scholar
Ghoshal, S. 2005. Bad management theories are destroying good management practices. Academy of Management Learning & Education, 4: 75–91.CrossRefGoogle Scholar
Gilbert, D. R. 2001. Corporate strategy and ethics, as corporate strategy comes of age. In Hitt, M. A., Freeman, R. E., & Harrison, J. S. (Eds.), The Blackwell handbook of strategic management. Oxford: Blackwell Publishers Ltd.Google Scholar
Gilbert, D. R., Hartman, E., Mauriel, J. J., & Freeman, R. E. 1988. A logic for strategy. New York: HarperBusiness.Google Scholar
Godfrey, P. C., Merrill, C. B., & Hansen, J. M. 2009. The relationship between corporate social responsibility and shareholder value: An empirical test of the risk management hypothesis. Strategic Management Journal, 30: 425–45.CrossRefGoogle Scholar
Goodstein, J. D., & Wicks, A. C. 2007. Corporate and stakeholder responsibility: Making business ethics a two-way conversation. Business Ethics Quarterly, 17: 375–98.CrossRefGoogle Scholar
Grahovac, J., & Miller, D. J. 2009. Competitive advantage and performance: The impact of value creation and costliness of imitation. Strategic Management Journal, 30: 1192–1212.CrossRefGoogle Scholar
Grant, R. M. 2008. Contemporary strategy analysis: Concepts, techniques, applications (6th ed.). Oxford: Blackwell Publishers Ltd.Google Scholar
Greene, J. D., Sommerville, R., Nystrom, L. E., Darley, J. M., & Cohen, J. D. 2001. An fMRI investigation of emotional engagement in moral judgment. Science, 293: 2105–08.CrossRefGoogle ScholarPubMed
Guth, W., Schmittberger, R., & Schwarze, B. 1982. An experimental analysis of ultimatum bargaining. Journal of Economic Behavior and Organization, 3: 367–88.CrossRefGoogle Scholar
Haidt, J., Koller, S. H., & Dias, M. G. 1993. Affect, culture, and morality, or is it wrong to eat your dog? Journal of Personality and Social Psychology, 65: 613–28.CrossRefGoogle ScholarPubMed
Hambrick, D. C. 2007. The field of management’s devotion to theory: Too much of a good thing? Academy of Management Journal, 50: 1346–52.CrossRefGoogle Scholar
Hambrick, D. C., & Finkelstein, S. 1987. Managerial discretion: A bridge between polar views of organizational outcomes. Research in Organizational Behavior, 9: 369–406.Google Scholar
Hargrave, T. J. 2009. Moral imagination, collective action, and the achievement of moral outcomes. Business Ethics Quarterly, 19: 87–104.CrossRefGoogle Scholar
Hargrave, T. J. 2010. Competing logics and the dynamics of change: A neoinstitutional perspective on the development of climate change institutions. Working paper, University of Washington.Google Scholar
Hargrave, T. J., & Van de Ven, A. H. 2006. A collective action model of institutional innovation. Academy of Management Review, 31: 864–88.CrossRefGoogle Scholar
Harris, J. 2008. Financial misrepresentation: Antecedents and performance effects. Business & Society, 47: 390–401.CrossRefGoogle Scholar
Harris, J., & Freeman, R. E. 2008. The impossibility of the separation thesis. Business Ethics Quarterly, 18: 541–48.CrossRefGoogle Scholar
Harrison, J. S., Bosse, D., & Phillips, R. A. 2010. Managing for stakeholders, stakeholder utility functions, and competitive advantage. Strategic Management Journal, 31: 58–74.CrossRefGoogle Scholar
Hart, S. L. 1995. A natural-resourcebased view of the firm. Academy of Management Review, 20: 986–1014.CrossRefGoogle Scholar
Helfat, C. E. 2007. Stylized facts, empirical research and theory development in management. Strategic Organization, 5: 185–92.CrossRefGoogle Scholar
Hofer, C., Murray, E., Charan, R., & Pitts, R. 1980. Strategic management: A casebook in business policy and planning. St. Paul: West Publishing Co.Google Scholar
Hoskisson, R. E., Hitt, M. A., Wan, W. P., & Yiu, D. 1999. Theory and research in strategic management: Swings of a pendulum. Journal of Management, 24: 417–56.CrossRefGoogle Scholar
Hosmer, L. T. 1994. Strategic planning as if ethics mattered. Strategic Management Journal, 15: 17–34.CrossRefGoogle Scholar
Howard-Grenville, J. A. 2007. Developing issue-selling effectiveness over time: Issue selling as resourcing. Organization Science, 18: 560–77.CrossRefGoogle Scholar
Hull, C. E., & Rothenberg, S. 2008. Firm performance: The interactions of corporate social performance with innovation and industry differentiation. Strategic Management Journal, 29: 781–89.CrossRefGoogle Scholar
Jaffe, A. B., & Palmer, K. 1997. Environmental regulation and innovation: A panel data study. Review of Economics and Statistics, 79: 610–19.CrossRefGoogle Scholar
Jarzabkowski, P., & Spee, A. P. 2009. Strategy-as-practice: A review and future directions for the field. International Journal of Management Reviews, 11: 69–95.CrossRefGoogle Scholar
Jarzabkowski, P., & Whittington, R. 2008. Hard to disagree, mostly. Strategic Organization, 6: 101–06.CrossRefGoogle Scholar
Johnson, G., Melin, L., & Whittington, R. 2003. Micro strategy and strategizing: Towards an activity-based view. Journal of Management Studies, 40: 3–22.CrossRefGoogle Scholar
Jones, T. M., Felps, W., & Bigley, G. A. 2007. Ethical theory and stakeholder-related decisions: The role of corporate culture. Academy of Management Review, 32: 137–55.CrossRefGoogle Scholar
Kahneman, D., Knetsch, J., & Thaler, R. H. 1986a. Fairness and the assumptions of economics. Journal of Business, 59: 285–300.CrossRefGoogle Scholar
Kahneman, D. 1986b. Fairness as a constraint on profit seeking: Entitlements in the market. American Economic Review, 76: 728–41.Google Scholar
Kay, J., McKiernan, P., & Faulkner, D. 2003. The history of strategy and some thoughts about the future. In Faulkner, D. & Campbell, A. (Eds.), The Oxford handbook of competitive strategy. Oxford: Oxford University Press.Google Scholar
Khurana, R. 2007. From higher aims to hired hands: The social transformation of American business schools and the unfulfilled promise of management as a profession. Princeton, N.J.: Princeton University Press.CrossRefGoogle Scholar
King, A. A., & Lenox, M. J. 2002. exploring the locus of profitable pollution reduction. Management Science, 48: 289–99.CrossRefGoogle Scholar
King, A. A., Lenox, M. J., & Terlaak, A. 2005. The strategic use of decentralized institutions: Exploring certification with the ISO 14001 management standard. Academy of Management Journal, 48: 1091–1106.CrossRefGoogle Scholar
King, A. A., & Shaver, J. M. 2001. Are aliens green? Assessing foreign establishment’s environmental conduct in the United States. Strategic Management Journal, 22: 1069–86.CrossRefGoogle Scholar
King, A. A., & Toffel, M. W. 2009. Self-regulatory institutions for solving environmental problems: Perspectives and contributions from the management literature. In Delmas, M. & Young, O. (Eds.), Governance for the environment: New perspectives: 98–115. Cambridge: Cambridge University Press.CrossRefGoogle Scholar
Kolk, A. 2008. Sustainability, accountability and corporate governance: Exploring multinationals’ reporting practices. Business Strategy & the Environment, 17: 1–15.CrossRefGoogle Scholar
Learned, E. P., Christensen, C. R., Andrews, K. R., & Guth, W. D. 1965. Business policy: Text and cases. Homewood, Ill.: Irwin.Google Scholar
Lee, B. H. 2009. The infrastructure of collective action and policy content diffusion in the organic food industry. Academy of Management Journal, 52: 1247–69.CrossRefGoogle Scholar
Lee, M. T., & Ermann, M. E. 1999. Pinto “madness” as a flawed landmark narrative: An organizational and network analysis. Social Problems, 46: 30–47.CrossRefGoogle Scholar
Logsdon, J. M., & Yuthas, K. 1997. Corporate social performance, stakeholder orientation, and organizational moral development. Journal of Business Ethics, 16: 1213–26.CrossRefGoogle Scholar
Mackey, A., Mackey, T. B., & Barney, J. 2007. Corporate social responsibility and firm performance: Investor preferences and corporate strategies. Academy of Management Review, 32: 817–35.CrossRefGoogle Scholar
Mahoney, J. T. 2009. Towards a stakeholder theory of strategic management. Working Paper, University of Illinois at Urbana-Champaign.Google Scholar
Malhotra, D. 2009. Too big to trust: Conceptualizing and managing stakeholder trust in the post-bailout economy. Paper presented at the 2009 Ruffin Summit on Public Trust in Business, Charlottesville, Virginia.Google Scholar
March, J. G., & Simon, H. A. 1958/1993. Organizations (2nd ed.). Cambridge: Blackwell.Google Scholar
Marens, R., & Wicks, A. 1999. Getting real: Stakeholder theory, managerial practice, and the general irrelevance of fiduciary duties owed to shareholders. Business Ethics Quarterly, 9: 273–94.CrossRefGoogle Scholar
Margolis, J. D. 2009. The responsibility gap. The Hedgehog Review: 41–53.Google Scholar
Margolis, J., & Walsh, J. 2003. Misery loves companies: Rethinking social initiatives by business. Administrative Science Quarterly, 48: 268–305.CrossRefGoogle Scholar
Marquis, C., Glynn, M. A., & Davis, G. F. 2007. Community isomorphism and corporate social action. Academy of Management Review, 32: 925–45.CrossRefGoogle Scholar
McGahan, A. M., & Porter, M. E. 1997. How much does industry matter, really? Strategic Management Journal, 18: 15–30.3.0.CO;2-1>CrossRefGoogle Scholar
McGahan, A. M., & Porter, M. E. 2002. What do we know about variance in accounting profitability? Management Science, 48: 834–51.CrossRefGoogle Scholar
McWilliams, A., & Siegel, D. 2000. Corporate social responsibility and financial performance: Correlation or misspecification? Strategic Management Journal, 21: 603–09.3.0.CO;2-3>CrossRefGoogle Scholar
Meek, W. R., Pacheco, D. F., & York, J. G. 2010. The impact of social norms on entrepreneurial action: Evidence from the environmental entrepreneurship context. Journal of Business Venturing: doi:10.1016/j.jbusvent.2009.09.007.CrossRefGoogle Scholar
Milgram, S. 1963. Behavioral study of obedience. Journal of Abnormal Psychology, 67: 371–78.CrossRefGoogle ScholarPubMed
Miller, A. G. 2009. Reflections on “Replicating Milgram.” American Psychologist, 64: 20–27.CrossRefGoogle ScholarPubMed
Miller, D. 2007. Paradigm prison, or in praise of atheoretic research. Strategic Organization, 5: 177–84.CrossRefGoogle Scholar
Misangyi, V. F., Elms, H., Greckhamer, T., & Lepine, J. A. 2006. A new perspective on a fundamental debate: A multilevel approach to industry, corporate, and business unit effects. Strategic Management Journal, 27: 571–90.CrossRefGoogle Scholar
Mitchell, R. K., Agle, B. R., & Wood, D. 1997. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Academy of Management Review, 22: 853–86.CrossRefGoogle Scholar
Murillo-Luna, J. L., Garcés-Ayerbe, C., & Rivera-Torres, P. 2008. Why do patterns of environmental response differ? A stakeholders’ pressure approach. Strategic Management Journal, 29: 1225–40.CrossRefGoogle Scholar
Nameroff, T. J., Garant, R. J., & Albert, M. B. 2004. Adoption of green chemistry: An analysis based on US patents. Research Policy, 33: 959–74.CrossRefGoogle Scholar
Nehrt, C. 1996. Timing and intensity effects of environmental investments. Strategic Management Journal, 17: 535–47.3.0.CO;2-9>CrossRefGoogle Scholar
O’Connell, L., Stephens, C., Betz, M., Shepard, J. M., & Hendry, J. R. 2005. An organizational field approach to corporate rationality: The role of stakeholder activism. Business Ethics Quarterly, 15: 93–112.Google Scholar
Orlitzky, M. 2008. Corporate social performance and financial performance: A research synthesis. In Crane, A., McWilliams, A., Matten, D., Moon, J., & Siegel, D. (Eds.), The Oxford handbook of corporate social responsibility. Oxford: Oxford University Press.Google Scholar
Orlitzky, M., Schmidt, F. L., & Rynes, S. L. 2003. Corporate social and financial performance: A meta analysis. Organization Studies, 24: 403–41.CrossRefGoogle Scholar
Ostrom, E., Walker, J., & Gardner, R. 1992. Covenants with and without a sword: Self-governance is possible. American Political Science Review, 86: 404–17.CrossRefGoogle Scholar
Pettigrew, A., Thomas, H., & Whittington, R. 2002. Strategic management: The strengths and limitations of a field. In Pettigrew, A., Thomas, H., & Whittington, R. (Eds.), Handbook of Strategy and Management: 3–30. London: Sage.Google Scholar
Phillips, R. A. 2003a. Stakeholder legitimacy. Business Ethics Quarterly, 13: 25–41.CrossRefGoogle Scholar
Phillips, R. A. 2003b. Stakeholder theory and organizational ethics. San Francisco: Berrett Koehler Publishers, Inc.Google Scholar
Phillips, R. A., Berman, S., Elms, H., & Johnson-Cramer, J. C. 2010. Strategy, stakeholders and managerial discretion. Strategic Organization, 8: 176–83.CrossRefGoogle Scholar
Porter, M. E. 1980/1998. Competitive strategy: Techniques for analyzing industries and competitors. New York: The Free Press.Google Scholar
Porter, M. E. 1985. Competitive advantage: Creating and sustaining superior performance. New York: The Free Press.Google Scholar
Porter, M. E. 1990. The competitive advantage of nations. New York: The Free Press.CrossRefGoogle Scholar
Porter, M. E., & Kramer, R. 2002. The competitive advantage of corporate philanthropy. Harvard Business Review, 80: 56–69.Google ScholarPubMed
Porter, M. E., & Kramer, R. 2006. Strategy and society: The link between competitive advantage and corporate social responsibility. Harvard Business Review, 84: 78–92.Google Scholar
Porter, M. E., & van der Linde, C. 1995a. Green and competitive—ending the stalemate. Harvard Business Review, 73: 120–34.Google Scholar
Porter, M. E., & van der Linde, C. 1995b. Toward a new conception of the environment-competitiveness relationship. Journal of Economic Perspectives, 9: 97–118.CrossRefGoogle Scholar
Rabin, M. 1993. Incorporating fairness into game theory. American Economic Review, 83: 1281–1302.Google Scholar
Reid, E. M., & Toffel, M. W. 2009. Responding to public and private politics: Corporate disclosure of climate change strategies. Strategic Management Journal, 30: 1157–78.CrossRefGoogle Scholar
Robertson, C. 2008. An analysis of 10 years of business ethics research in Strategic Management Journal: 1996–2005. Journal of Business Ethics, 80: 745–53.CrossRefGoogle Scholar
Roth, A. E., Prasnikar, V., Zamir, S., & Okuno-Fujiwara, M. 1991. Bargaining and market behavior in Jerusalem, Ljubljana, Pittsburgh, and Tokyo: An experimental study. American Economic Review, 81: 1068–95.Google Scholar
Rowley, T., & Berman, S. 2000. A brand new brand of corporate social performance. Business & Society, 39: 397–418.CrossRefGoogle Scholar
Rowley, T. J., & Moldoveanu, M. 2003. When will stakeholder groups act? An interest- and identity-based model of stakeholder group mobilization. Academy of Management Review, 28: 204–19.CrossRefGoogle Scholar
Rugman, A. M., & Verbeke, A. 1998. Corporate strategies and environmental regulations: An organizing framework. Strategic Management Journal, 19: 363–75.3.0.CO;2-H>CrossRefGoogle Scholar
Rumelt, R. P. 1991. How much does industry matter? Strategic Management Journal, 12: 167–85.CrossRefGoogle Scholar
Rumelt, R. P., Schendel, D. E., & Teece, D. J. 1994. Fundamental issues in strategy. In Rumelt, R. P., Schendel, D. E., & Teece, D. J. (Eds.), Fundamental issues in strategy. Boston: Harvard Business School Press.Google Scholar
Russo, M. 2001. Institutions, exchange relationships, and the emergence of New fields: Regulatory policies and independent power production in America, 1978–1992. Administrative Science Quarterly, 46: 57–86.CrossRefGoogle Scholar
Russo, M. 2003. The emergence of sustainable industries: Building on natural capital. Strategic Management Journal, 24: 317–32.CrossRefGoogle Scholar
Salvador, R., & Folger, R. G. 2009. Business ethics and the brain. Business Ethics Quarterly, 19: 1–31.CrossRefGoogle Scholar
Sanfey, A. G., Rilling, J. K., Aronson, J. A., Nystrom, L. E., & Cohen, J. D. 2003. The neural basis of economic decision-making in the ultimatum game. Science, 300: 1755–58.CrossRefGoogle ScholarPubMed
Schendel, D. E., & Hofer, C. W. 1979. Strategic management: A new view of business policy and planning. Boston: Little, Brown.Google Scholar
Schmalensee, R. 1985. Do markets differ much? American Economic Review, 75: 341–51.Google Scholar
Schnall, S., Haidt, J., Clore, G. L., & Jordan, A. H. 2008. Disgust as embodied moral judgment. Personality and Social Psychology Bulletin, 34: 1096–1109.CrossRefGoogle ScholarPubMed
Sen, A. 1987. On ethics and economics. Oxford: Basil Blackwell.Google Scholar
Sen, A. 1997. Economics, business principles and moral sentiments. Business Ethics Quarterly, 7: 5–15.CrossRefGoogle Scholar
Sharma, S., & Henriques, I. 2005. Stakeholder influences on sustainability practices in the Canadian forest products industry. Strategic Management Journal, 26: 159–80.CrossRefGoogle Scholar
Simon, H. 1945/1997. Administrative behavior (4th ed.). New York: The Free Press.Google Scholar
Sine, W. D., & Lee, B. H. 2009. Tilting at windmills? The environmental movement and the emergence of the U.S. wind energy sector. Administrative Science Quarterly, 54: 123–55.CrossRefGoogle Scholar
Smith, A. 1776/2000. The wealth of nations, books 4–5, ed. Skinner, A.London: Penguin Classics.Google Scholar
Smith, A. 1790/1982. The theory of moral sentiments, ed. Raphael, D. D. and Macfie, A. L.Indianapolis: Liberty Classics.Google Scholar
Thaler, R. H., & Sunstein, C. R. 2008. Nudge. New Haven, Conn.: Yale University Press.Google Scholar
Waddock, S., & Graves, S. B. 1997. The corporate social performance-financial performance link. Strategic Management Journal, 18: 303–19.3.0.CO;2-G>CrossRefGoogle Scholar
Wade, J. B., O’Reilly, C. A., & Pollock, T. G. 2006. Overpaid CEOs and underpaid managers: Fairness and executive compensation. Organization Science 17: 527–44.CrossRefGoogle Scholar
Walsh, J. 2005. Taking stock of stakeholder management. Academy of Management Review, 30: 426–38.CrossRefGoogle Scholar
Walsh, J., Weber, K., & Margolis, J. 2003. Social issues and management: Our lost cause found. Journal of Management, 29: 859–81.CrossRefGoogle Scholar
Wang, H., Choi, J., & Li, J. 2008. Too little or too much? Untangling the relationship between corporate philanthropy and firm financial performance. Organization Science, 19: 143–59.CrossRefGoogle Scholar
Weaver, G. R. 2006. Virtue in organizations: Moral identity as a foundation for moral agency. Organization Studies, 27: 341–68.CrossRefGoogle Scholar
Werhane, P. H. 1991. Adam Smith and his legacy for modern capitalism. New York: Oxford University Press.Google Scholar
Whetten, D., Rands, G., & Godfrey, P. 2002. What are the responsibilities of business to society? In Pettigrew, A., Thomas, H., & Whittington, R. (Eds.), Handbook of strategy and management. London: Sage.Google Scholar
Whittington, R. 1996. Strategy as practice. Long Range Planning, 29: 731–35.CrossRefGoogle Scholar
Wolfe, R. A., & Putler, D. S. 2002. How tight are the ties that bind stakeholder groups? Organization Science, 14: 54–80.Google Scholar
York, J. G. 2008. Pragmatic sustainability: Translating environmental ethics into competitive advantage. Journal of Business Ethics, 84: 97–109.Google Scholar
Zollo, M., Minoja, M., & Coda, V. 2009. Toward an integrated theory of strategy. Working Paper, Center for Research in Organization and Management, Bocconi University.Google Scholar