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Review of Managerial Science

Erschienen in:

01.07.2011 | Review Paper

Accounting information for managerial decision-making in shareholder management versus stakeholder management

verfasst von: Friederike Wall, Dorothea Greiling

Erschienen in: Review of Managerial Science | Ausgabe 2-3/2011

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Abstract

With global challenges like climate change and, of course, the crisis of capital markets in the recent past stakeholder oriented management receives enhanced attention whereas shareholder value management is increasingly criticized for its undesirable external effects on stakeholders other than owners. Regardless of whether these criticisms are well founded or not, the question arises how accounting-related techniques for supporting managerial decision-making differ in shareholder and stakeholder value management. Accounting information can affect managerial decision-making in two ways: directly as input to decisions or indirectly by influencing the behavior of managers. This article reviews the contributions and limitations of information that prominent accounting-related techniques of shareholder management and stakeholder management provide for managerial decision-making. In a comparative perspective we find that the approaches in shareholder value management are much more advanced. In particular the two roles of information in shareholder value management are manifest in accounting-related techniques which are focused on increasing firm value. The value driver models or residual income-based performance measures may serve as examples. In comparison, accounting-related techniques to support managerial decision-making in stakeholder management are not as well advanced. So far we have approaches which concentrate on selective stakeholder groups and only partially address the multi-dimensionality of stakeholder value creation. From a conceptual perspective our findings indicate that stakeholder value creation requires a more integrated approach for answering the question whether stakeholder value is created or diminished. As a consequence, if stakeholder-orientation is taken seriously, the time has come to pay more attention to related accounting techniques.

Vorheriger Artikel “Shareholder- versus Stakeholder-Orientation in Managerial Decision-Making—Editorial by Guest Editors”

Nächster Artikel Reconstruction of decision-making behavior in shareholder and stakeholder theory: implications for management accounting systems

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Titel: Accounting information for managerial decision-making in shareholder management versus stakeholder management
verfasst von: Friederike Wall
Dorothea Greiling
Publikationsdatum: 01.07.2011
Verlag: Springer-Verlag
Erschienen in: Review of Managerial Science / Ausgabe 2-3/2011
Print ISSN: 1863-6683
Elektronische ISSN: 1863-6691
DOI: https://doi.org/10.1007/s11846-011-0063-8

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Weitere Artikel der Ausgabe 2-3/2011

“Shareholder- versus Stakeholder-Orientation in Managerial Decision-Making—Editorial by Guest Editors”

Reconstruction of decision-making behavior in shareholder and stakeholder theory: implications for management accounting systems

Squeezing or cuddling? The impact of economic crises on management control and stakeholder management

Determinants of voluntary CSR disclosure: empirical evidence from Germany

Considering the shareholder perspective: value-based management systems and stock market performance

Stakeholder value disclosures: anchoring on primacy and importance of financial and nonfinancial performance measures