Toward a Novel Approach to Companies-Stakeholder Relationship: Modeling IBEX35 Long Run Value Creation

Abstract

This article analyzes the relationship between IBEX35 companies with their stakeholders. Previous research points out two relevant aspects for the long run value creation in organizations with CSR strategies: first, the existence of a stakeholder’s dialog which allows building a joint materiality matrix and, second, the ability to manage interest groups, where some relevant elements have been identified, such as the recommended proactivity of organizations. These elements are completed by carrying out a qualitative analysis of the best practices in the Dow Jones Sustainability Index (DJSI) companies, and further, the IBEX35 companies’ relationship performance with their stakeholders is studied, for which stakeholder approach (theory) and the renewed accountability standards have been considered. Results are presented in a radar/spider chart where IBEX35 companies are compared against best performing DJSI companies.