Refining normative stakeholder theory: insights from Judaism, Christianity, and Islam

Abstract

Given the historical and ongoing influence of religion, religious faith traditions might provide a compelling and coherent normative core for stakeholder theory. This paper explores the three Abrahamic faith traditions – Judaism, Christianity, and Islam – and applies principles derived from these traditions to stakeholder theory. Our analysis of these faith traditions yields four elements of a common normative core that is germane to stakeholder theory: (1) the need to place community at the center of human activity, including business activity; (2) skepticism about economic power and its misapplication; (3) a tempering of our commitment to individual liberty as the highest normative good to be achieved by society; and (4) the dignity of the individual person and, with that, an obligation of reciprocity between the individual and society (including businesses). We then identify two current issues in stakeholder research, considering ways that the three faith traditions would advance discussion about them. We conclude by offering implications for future research.

Keywords:

• religion
• Abrahamic faith traditions
• community
• normative core
• stakeholder theory
• human dignity

Acknowledgements

The authors are grateful to Andy Wicks and two anonymous JMSR reviewers for many helpful comments. We also wish to thank Yvonne M. Fung for editorial assistance.