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Stakeholder capitalism has gained attention among business practitioners and academia, often discussed within the context of corporate social responsibility, ethical practices and values-based leadership. Many societal institutions, including businesses and higher education institutions, have a role to play in the transition toward stakeholder capitalism. This study aims to discuss insights gained from a multiyear research and pedagogical project coordinated among a group of academics and an Israel-based holding company to study the implementation of a values-based leadership process focused on establishing a stakeholder-oriented model in a variety of organizations.

Conducted over a decadal period, this project relied on a qualitative case study methodology. The project was conceived as an exploratory and inductive study examining organizations that implemented a values-based leadership model and a university that used this model for curriculum and pedagogy. Semi-structured interviews, observations of leadership practices and operations, and substantive reviews of organizational documents informed the study’s iterative methodology.

The case studies presented explore the benefits of a stakeholder capitalism and values-based leadership transformation in organizations and highlight the importance of senior leadership engagement at the outset to set the tone and direction of implementation while also role modeling values-based behaviors for the organization. The utility of aligning the new values-based approach with existing elements of the organizational culture and priorities was also identified in addition to the benefit of individuals linking the new values initiative to their personal values and life. These practices, and a broader stakeholder dialogue on values, helped establish a transition that was inclusive within the organizational hierarchy and in its connections to the larger society. The cases also explored how stakeholder principles and values-based leadership models can be integrated into management education based on the outcomes of the organizational investigations.

These case studies offer insight into the implementation of a values-based leadership framework, which draws on stakeholder theory, in diverse organizations across a for-profit to non-profit spectrum. These studies also provide a unique opportunity to evaluate the implementation of a common values framework in different sectors. The cases further highlight the potential role of business-education sectoral partnerships in educating a workforce that is dedicated to business for good.

To reveal the effective ways for leaders to motivate employees' innovative behaviour in complex environmental situations, the leadership rapport orientation is subdivided into two types of values-based/instrumental rapport orientation. The mechanism of supervisor developmental feedback in mediating between leadership rapport orientation and employees' innovative behaviour and the moderating effect of ambidextrous environments is explored. This paper aims to discuss the aforementioned objective.

Leadership rapport orientation is divided into value-based and instrumental rapport orientation to reveal effective ways for leaders to motivate employees' innovative behaviour in complex environmental situations.

The results show that the values-based (instrumental) rapport orientation of leaders impacts employees' innovative behaviour positively (negatively).

Leaders' values-based/instrumental rapport orientation indirectly influences employees' innovative behaviour through supervisor developmental feedback, which positively moderates the relationship between the values-based or instrumental rapport orientation of leaders and employees' innovative behaviour and further moderates the partially mediating role of supervisor developmental feedback between leaders' values-based/instrumental rapport orientation and employees' innovative behaviour.

This study examines how market orientation (MO) affects hotel performance through the value-based marketing innovation intermediate function.

:Structural equation modeling-partial least squares (SEM-PLS) analyses are performed to assess the proposed research model on a sample of 166 three-to-five-star hotels located in six provinces of Java Island, Indonesia.

The findings indicate that MO influences value-based marketing innovation and hotel performance. Additionally, it was demonstrated that value-based marketing innovation mediates the indirect link between MO and hotel performance.

This research encourages the managers of hotels to adopt MO as the company's culture and to pay close attention to value-based marketing innovation to recognize the potential benefit of MO in hotel performance enhancement.

This research focuses on unifying MO and resource-based view into a cohesive approach to better understand the link between MO and value-based marketing innovation and how both aspects affect hotel performance.

This paper aims to explore how leaders can develop value-based leadership for sustainable quality development in Lean manufacturing.

A qualitative meta-analysis was conducted using data from a three-year study of Lean manufacturing in Sweden using the Shingo business excellence model as an analytical framework.

This study demonstrates that leaders can develop value-based leadership to support Lean manufacturing by defining and articulating the organization’s values and accompanying behaviors that are needed to support the strategic direction; creating forums and time for leaders to identify the why behind decisions and reflect on their experiences to be able to lead a transformative process; and using storytelling to create a coaching culture to connect values and behaviors, to the processes and systems of work.

This paper contributes insights for developing value-based leadership to support a systemic approach to sustainable quality development in lean manufacturing. Findings are based on a limited case sample size of three manufacturing companies in Sweden.

The findings were derived using a unique methodological approach combining storytelling, appreciative inquiry and coaching with traditional data collection methods including surveys and interviews to identify, define and shape value-based leadership in Lean manufacturing.

This study aims to investigate the claim that there is no coherent and homogeneous body of concepts and practices that can be classified as “Islamic accounting”.

The study focuses specifically on Islamic accounting and uses a qualitative historical documentary analysis methodology to study an original manuscript from the 14th century.

The analysis of the manuscript argues that religious accounting can be seen as a value-based system for achieving social good and that in the context of Islamic accounting, it can be conceptualised as a coherent body of ideas and practices.

Firstly, the study conceptualises Islamic accounting as a homogeneous discipline with its own knowledge, concepts and practices. Secondly, it contributes to current accounting literature by examining an ancient manuscript from the 14th century, which serves as a foundation for understanding the Islamic accounting system within the context of accounting, religion and spirituality. The paper further contributes by arguing that this conceptualisation of religious accounting as a value-based approach enables its practitioners to evaluate their own accountabilities in delivering on socioeconomic objectives related to inter-human/environmental, social and financial transactions within the context of religious accounting practices.

This study aims to investigate the intervening role of lean management (LM) in the direct relationships between green market orientation, green value-based innovation, green reputation and enterprise social performance.

Data for the study is carefully garnered from 217 managers in Ghanaian small- and medium-sized enterprises. The methodological technique used to validate all hypothesized relationships is partial least squares structural equation modelling.

The empirical results of the study suggest that although green market orientation has a positive impact on green value-based innovation, the effect is not significant. However, the results confirm that green market orientation has a significant positive impact on green reputation and enterprise social performance. The results further suggest that LM has a significant positive impact on green value-based innovation, green reputation and enterprise social performance. The mediation analysis provides empirical evidence to suggest that LM fully mediates the relationship between green market orientation and green value-based innovation. Lastly, the results of the mediation analysis suggest that LM plays a complementary partial mediation role between green market orientation, green reputation and enterprise social performance.

Despite the flourishing research on green market orientation in marketing management and environmental literature, no study has been carried out to explore the intervening role of LM in the relationships between green market orientation, green value-based innovation, green reputation and enterprise social performance. Thus, considering LM as a missing link between green market orientation, green value-based innovation, green reputation and enterprise social performance is a noteworthy research gap which this study fills.

Despite the unparalleled importance of value within healthcare, value-based models remain underutilised in the procurement of medical devices. Research is needed to understand what factors incentivise standard, low-priced device purchasing as opposed to value-adding devices with potentially higher overall health outcomes. Framed in agency theory, we examine the conditions under which different actors involved in purchasing decisions select premium-priced, value-adding medical devices over low-priced, standard medical devices.

We conducted 2 × 2 × 2 between-subjects scenario-based vignette experiments on three UK-based online samples of managers (n = 599), medical professionals (n = 279) and purchasing managers (n = 449) with subjects randomly assigned to three treatments: (1) cost-saving incentives, (2) risk-sharing contracts and (3) stronger (versus weaker) clinical evidence.

Our analysis demonstrates the harmful effects of intra-organisational cost-saving incentives on value-based purchasing (VBP) adoption; the positive impact of inter-organisational risk-sharing contracts, especially when medical professionals are involved in decision-making; and the challenge of leveraging clinical evidence to support value claims.

Our results demonstrate the need to align incentives in a context with multiple intra- and inter-organisational agency relationships at play, as well as the difficulty of reducing information asymmetry when information is not easily interpretable to all decision-makers. Overall, the intra-organisational agency factors strongly influenced the choices for the inter-organisational agency relationship.

We contribute to VBP in healthcare by examining the role of intra- and inter-organisational agency relationships and incentives concerning VBP (non-) adoption. We also examine how the impact of such mechanisms differs between medical and purchasing (management) professionals.

The current work aims to understand the consumers’ adoption of electric vehicles (two-wheelers) from their value perspective by utilizing the value-based adoption model.

The study considered data from 302 potential electric two-wheeler customers and tested the hypotheses using structural equation modeling.

The outcomes showed that perceived economic benefits, social image, enjoyable acceleration and enhanced fun and perceived environment (positively) and perceived physical safety risk, perceived cost of ownership and range and charging risk (negatively) influenced the customers’ perceived value linked with electric two-wheeler (ETW) adoption. Only low engine noise emission and infrastructure issues did not affect perceived value.

Most of the respondents considered in the study were less than 35 years old. Hence, the model can be tested for other age groups.

The study’s outcomes will help ETW marketers, manufacturing companies and governments (state and central) to provide a more convenient environment for electric two-wheelers' adoption and help them curate appropriate strategies.

The current work offers a better understanding of potential customers' ETW adoption by employing a value-based trade-off.

The present study aims to evaluate the VBI strategies that have been implemented and to analyze the implementation challenges that BIMB has encountered.

A case study method was used to generate an in-depth and multi-faceted understanding of VBI strategy implementation in Bank Islam Malaysia Berhad (BIMB). A semi-structured in-depth interview was conducted with BIMB which is among of the earliest members of the VBI Community of Practitioners (CoPs). The data were transcribed and analyzed based on the content and thematic analyses.

This paper provides insights into how Islamic bank, i.e. BIMB, implement initiatives and strategies for adopting VBI based on the four underpinning principles. VBI is seen as a continuous strategy implementation of what has been practiced in BIMB, for instance, the Sadaqah House initiative introduced in 2018.

The primary limitation of the study is that it only focused on BIMB and does not represent the larger members of VBI CoPs among Islamic banks in Malaysia. A larger sample would have given more trustworthy results and could give better insights on the VBI implementation.

A good strategy implementation can be realized by generating a positive and sustainable economic, societal and environmental impact consistent with sustainable shareholder returns and long-term interests. The regulator should consider the policy implications of this study by strengthening the VBI and encouraging more Islamic and conventional banks to adopt it based on the findings.

The originality of this study is that it focuses on strategy implementation and the challenges facing Islamic bank toward VBI. It provides information on the implementation strategy of VBI in Islamic banks in Malaysia and facilitates other Islamic banking institutions, specifically future members of CoPs in creating a strong ethical foundation.

The purpose of this article is to synthesize the topics, conceptualizations and measurements of value-based management (VBM) and to suggest a research agenda covering its next evolution as sustainable governance.

The authors conducted a systematic literature review of 80 seminal studies published between 1979 and 2022. The authors synthesized the studies by their conceptualizations of VBM in an inductively developed framework.

The authors find that scholars explore diverse topics related to VBM with a prevailing focus on shareholder primacy. There is a paucity of studies that focus on the integration of shareholder maximization and stakeholder management practices. The authors explain which studies will form a promising foundation for advanced research on sustainable governance that will reach beyond current VBM research.

The authors' research agenda addresses new future topics on conflicting goals within and between shareholder groups, offers specific suggestions for using new research methods and untapped data sources for VBM and paves the way to substantially extend the boundaries of the firm in VBM research to include stakeholders, strategic alignment and new sustainability measures.