Stakeholders' impact to corporate sustainability in developing and emerging economies

Abstract

The article focuses on the stakeholders' attitudes regarding sustainable development in economically different countries and sifts through the reflection of these attitudes in international business practice. It argues that sustainable development of multinationals are fostered and permitted only in forms that suit with stakeholders' attitudes. Depending on stakeholders' attitudes, corporate sustainability can be developed in one of three forms: social partnership, community and environmental investment or endowment. Employing the analysis of stakeholders' attitude in developed, developing and emerging economies the hypothesis about stakeholders' impact to the corporate sustainability was verified. From the practical standpoint the paper provides understanding about stakeholders attitudes in economically different countries, which is important in developing corporate sustainability and planning corresponding activities in a public-private partnership.