Stakeholder Management Capability and Performance in Brazilian Cooperatives

Pavão, Yeda Maria Pereira; Rossetto, Carlos Ricardo

doi:10.7819/rbgn.v17i55.2125

ABSTRACT

Objective:

The aim of this paper is to relate Stakeholder Management Capability (SMC) to economic-financial and social-environmental performance.

Design/methodology/approach:

Data collection occurred in 26 states and the Federal District of Brazil. There was validation of 171 questionnaires answered at the strategic and tactical levels in the context of cooperatives in 13 sectors of Brazil’s economy. Structural equation modeling was used as an application to verify the data with the use of exploratory and confirmatory factor analysis.

Findings:

The results made it possible to verify the relationship between SMC and the social and environmental performance. The coefficient found for the relationship between SMC and economic-financial performance also had a positive effect.

Practical implications:

The research results provide evidence that SMC is directly related to the economic-financial and social-environmental performance of cooperative organizations. SMC may also contribute to the analytical process of organizations from the statistical dimension and an applied empirical structure.

Originality/value:

The model reached support in both relationships with significant values, demonstrating that the dimensions and scales used to measure it were satisfactory, validating the proposed model. This finding demonstrates that these organizations have the skills to meet the requirements of and manage stakeholders, even if one person plays different roles, i.e. the cooperative member, which is basically the owner, supplier, consumer and customer.

Keywords:
Stakeholder management capability; Performance; Cooperatives

Texto completo disponível apenas em PDF.

Full text available only in PDF format.

REFERENCES

Agle, B. R., Donaldson, T., Freeman, R. E., Jensen, M. C., Mitchell, R. K., & Wood, D. J. (2008). Dialogue: toward superior stakeholder theory. Business Ethics Quarterly, 18(2), 153-190.
Agle, B. R., Mitchell, R. K., & Sonnenfeld, J. A. (1999). Who matters to CEOs? An investigation of stakeholder attributes and salience, corporate performance and CEO values. Academy of Management Journal, 42(5), 507-525.
Berman, S. L., Phillips, R. A., & Wicks, A. C. (2005, August). Resource dependence, managerial discretion and stakeholder performance. Academy of Management Proceedings, [Supplement], B1-B6.
Bíblia Católica Online. (2012). Atos dos Apóstolos II Retrieved from http://www.bibliacatolica.com.br/01/51/2.php#ixzz262MVRgZg
» http://www.bibliacatolica.com.br/01/51/2.php#ixzz262MVRgZg
Boaventura, J. M. G., Cardoso, F. R., Silva, E. S., & Silva, R. S. (2009). Teoria dos stakeholders e teoria da firma: um estudo sobre a hierarquização das funções-objetivo em empresas do Brasil. Revista Brasileira de Gestão de Negócios, 11(32), 289-307.
Brower, J., & Mahajan, V. (2013). Driven to be good: a stakeholder theory perspective on the drivers of corporate social performance. Journal of Business Ethics, 117(2), 313-331. Retrieved from http://search.proquest.com/docview/1441788841/abstract/57221663B2694150PQ/17?accountid=14643
» http://search.proquest.com/docview/1441788841/abstract/57221663B2694150PQ/17?accountid=14643
Carvalho, C. E. (2011). Relacionamento entre ambiente organizacional, capacidades, orientação estratégica e desempenho: um estudo no setor hoteleiro brasileiro (Doctoral thesis). Vale do Itajaí University, Biguaçu, SC, Brasil.
Carvalho, F. L., & Bialoskorski, S., Neto. (2008). Indicadores de avaliação de desempenho econômico em cooperativas agropecuárias: um estudo em cooperativas paulistas. Organizações Rurais & Agroindustriais, 10(3), 420-437.
Castrogiovanni, G. J. (1991). Environmental munificence: a theoretical assessment. Academy of Management Review, 16(3), 542-565.
Chakravarthy, B. S. (1986). Measuring strategic performance. Strategic Management Journal, 7(5), 437-458.
Donaldson, T., & Preston, L. E. (1995). The stakeholder theory of the corporation: concepts, evidence, and implications. Academy of Management Review , 20(1), 65-91.
Duesing, R. J. (2009). Stakeholder orientation and its impact on performance in small businesses (Ph.D. dissertation). University of Southern California, Los Angeles, California. Retrieved from https://shareok.org/bitstream/handle/11244/6797/Department%20of%20Management_07.pdf?sequence=1
» https://shareok.org/bitstream/handle/11244/6797/Department%20of%20Management_07.pdf?sequence=1
Escobar, M. A. R. (2012). Relação das capacidades dinâmicas e orientação empreendedora com o desempenho em agências de viagens moderada pelo ambiente organizacional percebido (Doctoral thesis). Vale do Itajaí University, Biguaçu, SC, Brasil.
Elias, A. A., Cavana, R. Y., & Jackson, L. S. (2002). Stakeholder analisys for R&D Project management. R&D Management, 34(4), 301-310.
Fávero, L. P., Belfiore, P., Silva, F. L., & Chan, B. L. (2009). Análise de dados: modelagem multivariada para tomada de decisões Rio de Janeiro: Elsevier.
Finney, S. J., & Distefano, C. (2006). Non-normal and categorical data in structural equation modeling. In G. R. Hancok, & R. O. Mueleer. Structural equation modeling: a second course (Chap. 11, pp. 439-492). Charlotte, NC: Information Age Publ.
Freeman, R. E. (1984). Strategic management: a stakeholder approach New York: Cambridge University Press.
Freeman, R. E., Harrison, J. S., & Wicks, A. (2007). Managing for stakeholder: survival, reputation, and success London: Yale University Press. London.
Freeman, R. E., Harrison, J. S., Wicks, A. C., Parmar, B. L., & Colle, S. (2010). Stakeholder theory: the state of the art Cambridge: U. K. University Press.
Frooman, J. (1999). Stakeholder influence strategies. Academy of Management Review , 24(2), 191-205.
Frykell, G. E., & Wang, J. (1994). The fortune corporate ‘reputation’ index: reputation for what? Journal of Management, 20(1), 1-14.
Garriga, E. (2014). Beyond stakeholder utility function: stakeholder capability in the value creation process. Journal of Business, 120, 489-507.
Gimenes, R. M. T., & Gimenes, F. M. P. (2006). Cooperativismo agropecuário os desafios do financiamento das necessidades líquidas de capital de giro. Revista Economia Contemporânea, 10(2), 389-410.
Gomes, R. C., & Gomes, L. O. M. (2007). Proposing a theoretical framework to investigate the relationships between an organization and its environment. Revista de Administração Contemporânea, 11(1), 75-96. Retrieved from http://www.scielo.br/pdf/rac/v11n1/a04v11n1
» http://www.scielo.br/pdf/rac/v11n1/a04v11n1
Greenley, G. E., & Foxall, G. R. (1997). Multiple stakeholder orientation in UK companies and the implications for company performance. Journal of Management Studies, 34(2), 259-284.
Hair, J. F., Jr., Babin, B., Money, A. H., & Samuel, P. (2005). Fundamentos de métodos de pesquisa em administração Porto Alegre: Bookman.
Hair, J. F. Jr. , Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2009). Análise multivariada de dados (5a ed.). Porto Alegre: Bookman .
Hoffmann, V. E., Procopiak, J. A. F., & Rossetto, C. R. (2008). As estratégias de influência dos stakeholders nas organizações da indústria da construção civil: setor de edificações em Balneário Camboriú - SC. Ambiente Construído, 8(3), 21-35.
International Co-operative Alliance. (2005). Co-operative identify, values & principles Retrieved from http://ica.coop/en/whats-co-op/co-operative-identity-values-principles
» http://ica.coop/en/whats-co-op/co-operative-identity-values-principles
Key, S. (1999). Toward a new theory of the firm: a critique of stakeholder “theory”. Management Decision, 37(4), 317-330.
Kline, R. B. (2005). Principles and practice of structural equation modeling (2nd ed.). New York: Guilford.
Lyra, M. G., Gomes, R. C., & Jacovine, L. A. G. (2009). O papel dos stakeholders na sustentabilidade da empresa: contribuições para construção de um modelo de análise. Revista de Administração Contemporânea , 13[Edição Especial], 39-52.
Marcon, R., Bandeira-de-Mello, R., & Alberton, A. (2008). Teoria instrumental dos stakeholders em ambientes turbulentos: uma verificação empírica utilizando doações políticas e sociais. Brazilian Business Review, 5(3), 289-308.
Matitz, Q., & Bulgacov, S. (2011). O conceito desempenho em estudos organizacionais e estratégia: um modelo de análise multidimensional. Revista de Administração Contemporânea , 15(4), 580-607.
Meurer, S. (2006). Desempenho da cooperativa versus expectativas e interesses dos associados da Sicoob-SC Creditapiranga (Masters dissertation). Vale do Itajaí University, Biguaçu, Brasil.
Meurer, S., & Marcon, R. (2007). Desempenho de cooperativa: o caso de uma cooperativa de crédito rural. Organizações Rurais e Agroindustriais (UFLA), 9(3), 334-348.
Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a theory of stakeholder identification and salience: defining the principle of who and what really counts. Academy of Management Review , 22(4), 853-886.
Mitchell, R. K., Agle, B. R., Chrisman, J. J., & Spence, L. J. (2011) Toward a theory of stakeholder salience in family firms. Business Ethics Quarterly , 21(2), 235-255.
Organização das Cooperativas do Brasil. (2010). Diferenças societárias Retrieved from http://www.dfcooperativo.coop.br/conteudo.jsp?idnoticia=33&idarea=4
» http://www.dfcooperativo.coop.br/conteudo.jsp?idnoticia=33&idarea=4
Organização das Cooperativas do Brasil. (2012). Forma ideal de organização Retrieved from http://www.ocb.org.br/site/cooperativismo/index.asp
» http://www.ocb.org.br/site/cooperativismo/index.asp
Oliveira, C. C., Jr. (1991). Avaliação da eficiência empresarial das cooperativas Curitiba: OCEPAR.
Pavão, Y. M. P. (2012). A capacidade de gestão dos stakeholders e o ambiente organizacional: relações e impactos no desempenho das cooperativas do Brasil (Doctoral thesis). Vale do Itajaí University, Biguaçu, Brasil.
Pavão, Y. M. P., Dalfovo, M. S., Escobar, M. A. R., & Rossetto, C. R. (2012). A influência dos stakeholders no ambiente estratégico de uma cooperativa de crédito: efeitos da munificência. Revista de Ciências da Administração, 14(34), 24-38.
Phillips, R., Freeman, R. E., & Wicks, A. C. (2003). What stakeholder theory is not. Business Ethics Quarterly , 13(4), 479-502.
Roberto J., & Serrano, A. (2007). Desempenho empresarial, stakeholders e controlo estratégico, um estudo de caso. In J. C. A. Calvo (Coord.), Conocimiento, innovación y empreendedores: camino al futuro (pp. 2480-2495). Logroño: Universidad de Rioja.
Rossetto, C. R. (1998). Adaptação estratégica organizacional: um estudo multicaso na industria da construção civil - setor de edificações (Doctoral thesis). Santa Catarina Federal University - Florianópolis, Brasil.
Rossetto, C. R., Cunha, C. J. A., & Orssatto, C. H. (1997). Os stakeholders no processo de adaptação estratégica: um estudo longitudinal. Revista de Negócios, 5(9), 105-124.
Rueda-Manzanares, A., Arágon-Correa, J. A., & Sharma, S. (2008). The influence of stakeholders on the environmental strategy of service firms: the moderating effects of complexity, uncertainty and munificence. British Journal of Management, 19(2), 185-203.
Savage, G. T., Nix, T. W., Whithead, C. J., & Blair, J. D. (1991). Strategies for assessing and managing organizational stakeholders. Academy of Management Executive, 5(2), 61-75.
Shropshire, C., & Hillman, A. J. (2009). A longitudinal study of significant change in stakeholder management. Business & Society, 46(1), 63-87.
Silveira, M. S. R. M., & Silva, R. P. (2011). Associativismo e cooperativismo: uma análise histórico-cultural. Revista Autor Retrieved from http://www.revistaautor.com/portal/index.php?option=com_content&view=article&id=701:associativismo-e-cooperativismo-uma-analise-historico-cultural&catid=100:polca&Itemid=47
» http://www.revistaautor.com/portal/index.php?option=com_content&view=article&id=701:associativismo-e-cooperativismo-uma-analise-historico-cultural&catid=100:polca&Itemid=47
Svendsen, A. C. (1998) The stakeholder strategy: profiting from collaborative business relationships San Francisco: Berrett-Koehler.
Velamuri, R., & Venkataraman, S. (2005). Why stakeholder and stockholder theories are not necessarily contradictory: a Knightian insight [IESE Research Papers D/591]. IESE, Business School, Madrid, Spain.
Venkatraman, N., & Ramanujam, V. (1986). Measurement of business performance in strategy research: a comparison of approaches. Academy of Management Journal , 11(4), 801-814.
Verbeke, A., & Tung, V. (2013). The future of stakeholder management theory: a temporal perspective. Journal of Business Ethics , 112(3), 529-543. Retrieved from http://search.proquest.com/docview/1272112867/abstract/91485960C7B140B4PQ/2?accountid=14643
» http://search.proquest.com/docview/1272112867/abstract/91485960C7B140B4PQ/2?accountid=14643
Waddock, S. A., & Graves, S. B. (1997). The corporate social performance-financial performance link. Strategic Management Journal , 18(4), 303-319.
Wickham, M., & Wong, T. (2009). Stakeholder management capability, exploring the strategic management of dissenting stakeholder group. Corporate Ownership & Control, 6(4), 293-300.
Zakhem, A. (2008). Stakeholder management capability: a discourse theoretical approach. Journal of Business Ethics , 79, 395-405.

2
Evaluation process: Double Blind Review

Publication Dates

Publication in this collection
Apr 2015

History

Received
08 Aug 2014
Accepted
29 May 2015

This is an open-access article distributed under the terms of the Creative Commons Attribution License

[1] Agle, B. R., Donaldson, T., Freeman, R. E., Jensen, M. C., Mitchell, R. K., & Wood, D. J. (2008). Dialogue: toward superior stakeholder theory. Business Ethics Quarterly, 18(2), 153-190.

[2] Agle, B. R., Mitchell, R. K., & Sonnenfeld, J. A. (1999). Who matters to CEOs? An investigation of stakeholder attributes and salience, corporate performance and CEO values. Academy of Management Journal, 42(5), 507-525.

[3] Berman, S. L., Phillips, R. A., & Wicks, A. C. (2005, August). Resource dependence, managerial discretion and stakeholder performance. Academy of Management Proceedings, [Supplement], B1-B6.

[4] Bíblia Católica Online. (2012). Atos dos Apóstolos II Retrieved from http://www.bibliacatolica.com.br/01/51/2.php#ixzz262MVRgZg
» http://www.bibliacatolica.com.br/01/51/2.php#ixzz262MVRgZg

[5] Boaventura, J. M. G., Cardoso, F. R., Silva, E. S., & Silva, R. S. (2009). Teoria dos stakeholders e teoria da firma: um estudo sobre a hierarquização das funções-objetivo em empresas do Brasil. Revista Brasileira de Gestão de Negócios, 11(32), 289-307.

[6] Brower, J., & Mahajan, V. (2013). Driven to be good: a stakeholder theory perspective on the drivers of corporate social performance. Journal of Business Ethics, 117(2), 313-331. Retrieved from http://search.proquest.com/docview/1441788841/abstract/57221663B2694150PQ/17?accountid=14643
» http://search.proquest.com/docview/1441788841/abstract/57221663B2694150PQ/17?accountid=14643

[7] Carvalho, C. E. (2011). Relacionamento entre ambiente organizacional, capacidades, orientação estratégica e desempenho: um estudo no setor hoteleiro brasileiro (Doctoral thesis). Vale do Itajaí University, Biguaçu, SC, Brasil.

[8] Carvalho, F. L., & Bialoskorski, S., Neto. (2008). Indicadores de avaliação de desempenho econômico em cooperativas agropecuárias: um estudo em cooperativas paulistas. Organizações Rurais & Agroindustriais, 10(3), 420-437.

[9] Castrogiovanni, G. J. (1991). Environmental munificence: a theoretical assessment. Academy of Management Review, 16(3), 542-565.

[10] Chakravarthy, B. S. (1986). Measuring strategic performance. Strategic Management Journal, 7(5), 437-458.

[11] Donaldson, T., & Preston, L. E. (1995). The stakeholder theory of the corporation: concepts, evidence, and implications. Academy of Management Review , 20(1), 65-91.

[12] Duesing, R. J. (2009). Stakeholder orientation and its impact on performance in small businesses (Ph.D. dissertation). University of Southern California, Los Angeles, California. Retrieved from https://shareok.org/bitstream/handle/11244/6797/Department%20of%20Management_07.pdf?sequence=1
» https://shareok.org/bitstream/handle/11244/6797/Department%20of%20Management_07.pdf?sequence=1

[13] Escobar, M. A. R. (2012). Relação das capacidades dinâmicas e orientação empreendedora com o desempenho em agências de viagens moderada pelo ambiente organizacional percebido (Doctoral thesis). Vale do Itajaí University, Biguaçu, SC, Brasil.

[14] Elias, A. A., Cavana, R. Y., & Jackson, L. S. (2002). Stakeholder analisys for R&D Project management. R&D Management, 34(4), 301-310.

[15] Fávero, L. P., Belfiore, P., Silva, F. L., & Chan, B. L. (2009). Análise de dados: modelagem multivariada para tomada de decisões Rio de Janeiro: Elsevier.

[16] Finney, S. J., & Distefano, C. (2006). Non-normal and categorical data in structural equation modeling. In G. R. Hancok, & R. O. Mueleer. Structural equation modeling: a second course (Chap. 11, pp. 439-492). Charlotte, NC: Information Age Publ.

[17] Freeman, R. E. (1984). Strategic management: a stakeholder approach New York: Cambridge University Press.

[18] Freeman, R. E., Harrison, J. S., & Wicks, A. (2007). Managing for stakeholder: survival, reputation, and success London: Yale University Press. London.

[19] Freeman, R. E., Harrison, J. S., Wicks, A. C., Parmar, B. L., & Colle, S. (2010). Stakeholder theory: the state of the art Cambridge: U. K. University Press.

[20] Frooman, J. (1999). Stakeholder influence strategies. Academy of Management Review , 24(2), 191-205.

[21] Frykell, G. E., & Wang, J. (1994). The fortune corporate ‘reputation’ index: reputation for what? Journal of Management, 20(1), 1-14.

[22] Garriga, E. (2014). Beyond stakeholder utility function: stakeholder capability in the value creation process. Journal of Business, 120, 489-507.

[23] Gimenes, R. M. T., & Gimenes, F. M. P. (2006). Cooperativismo agropecuário os desafios do financiamento das necessidades líquidas de capital de giro. Revista Economia Contemporânea, 10(2), 389-410.

[24] Gomes, R. C., & Gomes, L. O. M. (2007). Proposing a theoretical framework to investigate the relationships between an organization and its environment. Revista de Administração Contemporânea, 11(1), 75-96. Retrieved from http://www.scielo.br/pdf/rac/v11n1/a04v11n1
» http://www.scielo.br/pdf/rac/v11n1/a04v11n1

[25] Greenley, G. E., & Foxall, G. R. (1997). Multiple stakeholder orientation in UK companies and the implications for company performance. Journal of Management Studies, 34(2), 259-284.

[26] Hair, J. F., Jr., Babin, B., Money, A. H., & Samuel, P. (2005). Fundamentos de métodos de pesquisa em administração Porto Alegre: Bookman.

[27] Hair, J. F. Jr. , Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2009). Análise multivariada de dados (5a ed.). Porto Alegre: Bookman .

[28] Hoffmann, V. E., Procopiak, J. A. F., & Rossetto, C. R. (2008). As estratégias de influência dos stakeholders nas organizações da indústria da construção civil: setor de edificações em Balneário Camboriú - SC. Ambiente Construído, 8(3), 21-35.

[29] International Co-operative Alliance. (2005). Co-operative identify, values & principles Retrieved from http://ica.coop/en/whats-co-op/co-operative-identity-values-principles
» http://ica.coop/en/whats-co-op/co-operative-identity-values-principles

[30] Key, S. (1999). Toward a new theory of the firm: a critique of stakeholder “theory”. Management Decision, 37(4), 317-330.

[31] Kline, R. B. (2005). Principles and practice of structural equation modeling (2nd ed.). New York: Guilford.

[32] Lyra, M. G., Gomes, R. C., & Jacovine, L. A. G. (2009). O papel dos stakeholders na sustentabilidade da empresa: contribuições para construção de um modelo de análise. Revista de Administração Contemporânea , 13[Edição Especial], 39-52.

[33] Marcon, R., Bandeira-de-Mello, R., & Alberton, A. (2008). Teoria instrumental dos stakeholders em ambientes turbulentos: uma verificação empírica utilizando doações políticas e sociais. Brazilian Business Review, 5(3), 289-308.

[34] Matitz, Q., & Bulgacov, S. (2011). O conceito desempenho em estudos organizacionais e estratégia: um modelo de análise multidimensional. Revista de Administração Contemporânea , 15(4), 580-607.

[35] Meurer, S. (2006). Desempenho da cooperativa versus expectativas e interesses dos associados da Sicoob-SC Creditapiranga (Masters dissertation). Vale do Itajaí University, Biguaçu, Brasil.

[36] Meurer, S., & Marcon, R. (2007). Desempenho de cooperativa: o caso de uma cooperativa de crédito rural. Organizações Rurais e Agroindustriais (UFLA), 9(3), 334-348.

[37] Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a theory of stakeholder identification and salience: defining the principle of who and what really counts. Academy of Management Review , 22(4), 853-886.

[38] Mitchell, R. K., Agle, B. R., Chrisman, J. J., & Spence, L. J. (2011) Toward a theory of stakeholder salience in family firms. Business Ethics Quarterly , 21(2), 235-255.

[39] Organização das Cooperativas do Brasil. (2010). Diferenças societárias Retrieved from http://www.dfcooperativo.coop.br/conteudo.jsp?idnoticia=33&idarea=4
» http://www.dfcooperativo.coop.br/conteudo.jsp?idnoticia=33&idarea=4

[40] Organização das Cooperativas do Brasil. (2012). Forma ideal de organização Retrieved from http://www.ocb.org.br/site/cooperativismo/index.asp
» http://www.ocb.org.br/site/cooperativismo/index.asp

[41] Oliveira, C. C., Jr. (1991). Avaliação da eficiência empresarial das cooperativas Curitiba: OCEPAR.

[42] Pavão, Y. M. P. (2012). A capacidade de gestão dos stakeholders e o ambiente organizacional: relações e impactos no desempenho das cooperativas do Brasil (Doctoral thesis). Vale do Itajaí University, Biguaçu, Brasil.

[43] Pavão, Y. M. P., Dalfovo, M. S., Escobar, M. A. R., & Rossetto, C. R. (2012). A influência dos stakeholders no ambiente estratégico de uma cooperativa de crédito: efeitos da munificência. Revista de Ciências da Administração, 14(34), 24-38.

[44] Phillips, R., Freeman, R. E., & Wicks, A. C. (2003). What stakeholder theory is not. Business Ethics Quarterly , 13(4), 479-502.

[45] Roberto J., & Serrano, A. (2007). Desempenho empresarial, stakeholders e controlo estratégico, um estudo de caso. In J. C. A. Calvo (Coord.), Conocimiento, innovación y empreendedores: camino al futuro (pp. 2480-2495). Logroño: Universidad de Rioja.

[46] Rossetto, C. R. (1998). Adaptação estratégica organizacional: um estudo multicaso na industria da construção civil - setor de edificações (Doctoral thesis). Santa Catarina Federal University - Florianópolis, Brasil.

[47] Rossetto, C. R., Cunha, C. J. A., & Orssatto, C. H. (1997). Os stakeholders no processo de adaptação estratégica: um estudo longitudinal. Revista de Negócios, 5(9), 105-124.

[48] Rueda-Manzanares, A., Arágon-Correa, J. A., & Sharma, S. (2008). The influence of stakeholders on the environmental strategy of service firms: the moderating effects of complexity, uncertainty and munificence. British Journal of Management, 19(2), 185-203.

[49] Savage, G. T., Nix, T. W., Whithead, C. J., & Blair, J. D. (1991). Strategies for assessing and managing organizational stakeholders. Academy of Management Executive, 5(2), 61-75.

[50] Shropshire, C., & Hillman, A. J. (2009). A longitudinal study of significant change in stakeholder management. Business & Society, 46(1), 63-87.

[51] Silveira, M. S. R. M., & Silva, R. P. (2011). Associativismo e cooperativismo: uma análise histórico-cultural. Revista Autor Retrieved from http://www.revistaautor.com/portal/index.php?option=com_content&view=article&id=701:associativismo-e-cooperativismo-uma-analise-historico-cultural&catid=100:polca&Itemid=47
» http://www.revistaautor.com/portal/index.php?option=com_content&view=article&id=701:associativismo-e-cooperativismo-uma-analise-historico-cultural&catid=100:polca&Itemid=47

[52] Svendsen, A. C. (1998) The stakeholder strategy: profiting from collaborative business relationships San Francisco: Berrett-Koehler.

[53] Velamuri, R., & Venkataraman, S. (2005). Why stakeholder and stockholder theories are not necessarily contradictory: a Knightian insight [IESE Research Papers D/591]. IESE, Business School, Madrid, Spain.

[54] Venkatraman, N., & Ramanujam, V. (1986). Measurement of business performance in strategy research: a comparison of approaches. Academy of Management Journal , 11(4), 801-814.

[55] Verbeke, A., & Tung, V. (2013). The future of stakeholder management theory: a temporal perspective. Journal of Business Ethics , 112(3), 529-543. Retrieved from http://search.proquest.com/docview/1272112867/abstract/91485960C7B140B4PQ/2?accountid=14643
» http://search.proquest.com/docview/1272112867/abstract/91485960C7B140B4PQ/2?accountid=14643

[56] Waddock, S. A., & Graves, S. B. (1997). The corporate social performance-financial performance link. Strategic Management Journal , 18(4), 303-319.

[57] Wickham, M., & Wong, T. (2009). Stakeholder management capability, exploring the strategic management of dissenting stakeholder group. Corporate Ownership & Control, 6(4), 293-300.

[58] Zakhem, A. (2008). Stakeholder management capability: a discourse theoretical approach. Journal of Business Ethics , 79, 395-405.

Brasil