Shareholder or stakeholder management:strategies for performance optimisation

Cooper, Stuart M.; Crowther, David; Davis, Ted and Davies, Matt Shareholder or stakeholder management:strategies for performance optimisation. Management, 6 (23-24), pp. 4-15.

Abstract

This paper is based upon the findings of a CIMA research project into the way which corporate performance is affected by the performance measurement system adopted. It compares and contrasts the techniques in use in a sample of large companies that use a variety of techniques. We have classified these techniques into 3 types: • Value based management techniques • Stakeholder management techniques • Traditional accounting techniques. The analysis traces the interactions between corporate objectives, decision making criteria, performance measurement systems, and executive incentive schemes in order to develop an understanding of the effects of such techniques upon corporate performance. This paper seeks to provide some answers to the following two questions: • What approach leads to superior performance for a firm? • What is different between these approaches when they are used in practice, as distinct from theory? In doing so we have drawn upon both contingency theory and sociobiology theory to develop a framework for understanding the relationship between the choke of performance measurement system and the resulting performance.

Divisions: Aston Business School > Accounting
Aston Business School > Accounting Research Group
Uncontrolled Keywords: CIMA research project,corporate performance,performance measurement,value based management techniques,stakeholder management techniques,traditional accounting techniques,corporate objectives,decision making criteria,performance measurement systems,executive incentive schemes,superior performance,contingency theory,sociobiology theory

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