Stakeholders within the framework of Corporate Social Responsibility: A systematic review

Abstract

Corporate Social Responsibility (CSR) represents the ethical corporate behavior in relation to stakeholders to respond to their needs and expectations; however, it has been suggested that involving stakeholders in corporate management reduces the profit maximization and leads to losses. Thus, this paper intends to analyze theoretical and conceptual trends on stakeholders and CSR between 2012 and 2016 to contextualize their origin, characteristics, and perspectives. The systematic review methodology was followed, which stems from bibliometric analysis to identify patterns related with literature, impact studies, and theoretical-conceptual evolution. The results show that organizations must find a balance between their interests in profit and socially responsible practices through sustainable processes from the social, economic, and environmental perspectives.